FT - The Month In Closed-End Funds: March 2022

• For the first month in three, equity CEFs on average witnessed positive returns, rising 1.91% on an NAV basis for March.
• While for the third consecutive month, fixed income CEFs posted returns in the red (-2.18%).
• Only 20% of all CEFs traded at a premium to their NAV at month-end, with 27% of equity CEFs and 14% of fixed income CEFs trading in premium territory.
• Natural Resources CEFs (+7.04%) posted the strongest one-month returns of the equity classifications in the CEF universe for March.
• For the third consecutive month, the Loan Participation CEFs (+0.06%) classification outpaced the other classifications in the fixed income CEF universe for March.

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