RFMZ - The Month In Closed-End Funds: February 2024
2024-03-08 11:39:15 ET
Summary
- For the third month in four, equity CEFs (+1.81%) witnessed gains while their fixed income CEF (+0.52%) counterparts for the fourth month in a row posted plus-side returns.
- At month end, 13% of all CEFs traded at a premium to their NAV, with 13% of equity CEFs and 13% of fixed income CEFs trading in premium territory.
- Energy MLP CEFs (+4.86%), for the first month in 18, outpaced the other classifications in the equity CEF universe for February.
- Emerging Markets Hard Currency Debt CEFs (+2.12%), for the second month in three, outperformed the other classifications in the fixed income CEF macro-group.
- The world income CEFs macro-group (+1.00%) outperformed its domestic taxable bond (+0.56%) and municipal debt (+0.29%) CEF counterparts for the first month in four.
For the month, 79% of all closed-end funds (CEFs) posted net-asset-value (NAV) returns in the black, with 77% of equity CEFs and 81% of fixed income CEFs chalking up returns in the plus column. The average equity and fixed income CEF posted a NAV-based gain of 1.81% and 0.53%, respectively, for February....
The Month In Closed-End Funds: February 2024