2024-05-18 07:52:26 ET
Summary
- The Eaton Vance Tax-Managed Global Diversified Equity Income Fund is an equity closed end fund that provides exposure to global equities.
- In a previous article, EXG was given a 'Buy' rating based on attractive valuation metrics, and it has performed well since then.
- The CEF's discount to NAV is high due to the low VIX environment (low volatility reduces the value of options sold by the fund).
- I expect for the fund discount to remain widen until the market re-enters a sustained high volatility environment (VIX above 20).
Thesis
The Eaton Vance Tax-Managed Global Diversified Equity Income Fund ( EXG ) is an equity closed end fund which we have covered extensively in the past. The CEF comes from the Eaton Vance platform, and provides an expression of global equities returns....
Read the full article on Seeking Alpha
For further details see:
EXG: Moving This Equity CEF To Hold After The Run-Up (Rating Downgrade)