RFM - The Month In Closed-End Funds: March 2021

• For the fifth month in a row, equity CEFs on average posted positive returns, rising 2.77% on an NAV basis for March.
• While for the eleventh month in 12 fixed income CEFs posted plus-side returns (+0.45%).
• Twenty-four percent of all CEFs traded at a premium to their NAV, with 23% of equity CEFs and 25% of fixed income CEFs trading in premium territory.
• Utility CEFs (+8.33%) for the first month in 15 posted the strongest one-month returns of the equity classifications in the CEF universe for March.
• For the first month in five, the High Yield CEFs (+0.67%) classification posted the strongest plus-side returns in the taxable fixed income CEF universe for March.

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