NMCO - The Month In Closed-End Funds: January 2021

• For the third month in a row, equity CEFs on average posted positive returns, rising 0.84% on a NAV basis for January.
• While for the tenth month running, fixed income CEFs witnessed returns in the black (+1.13%).
• Eighteen percent of all CEFs traded at a premium to their NAV, with 16% of equity CEFs and 19% of fixed income CEFs trading in premium territory.
• Energy MLP CEFs (+6.09%) posted the strong stone-month returns of the equity classifications in the CEF universe for January.
• For the first month in five, the Loan Participation CEFs (+1.75%) classification posted the strongest plus-side returns in the fixed income CEF universe for January.

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