2024-04-17 15:19:07 ET
Summary
- Central Securities Corp outperformed the S&P 500 as an actively managed closed-end fund.
- The fund has benefited from a highly concentrated portfolio with an overweight exposure to the financial sector and insurance industry.
- We urge caution towards the fund which could be prone to wider swings of volatility in a shifting market environment.
Central Securities Corp ( CET ) is recognized as one of the oldest operating closed-end funds ((CEFs)) in the market, with a history going back to 1929. The actively managed equities strategy has impressively outperformed the S&P 500 Index over the last several decades....
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CET: Overweight Insurance Exposure Warrants Caution