It simply holds a passive portfolio of gold bullion. Here are the best closed-end funds for income. Investors in traditional energy stocks tend to overlook anything with "sustainable" in the name, and renewable energy investors tend to be put off by the fund's holdings of pipelines. No editions have been produced or published since July 2018, however, and CEFA currently has no plans to resume publishing. Shares of closed-end funds frequently trade at a market price that is a discount to their NAV. Muni CEFs put together portfolios of tax-free state and local bonds and add a little leverage to juice that tax-free yield even higher. Here are some of the best picks for 2023. Contrarian Income Report. Can This 12.7%-Yielding REIT Portfolio Keep It Going? Only time will tell. - It's hard to change people's beliefs, such as "Napoleon was short" and Junk bonds' caused the S&L Crisis" by presenting the actual facts. 23 minutes ago: New Press Release: Thornburg Income Builder Opportunities Trust Announces Distribution 52 minutes ago: New Press Release: They often trade at deep discounts to NAV, can persist like that for years, and nothing seems to shake them out of that rut. Learn more about JRS at the Nuveen provider site. Closed-end funds are different. Monthly Recommendations: Our best corporate bonds, preferred stocks, convertible securities, master ltd. partnerships, and closed-end funds. Lets go ahead and grab a slice of AIs furious growth and get ourselves a nice 6% dividend (paid monthly), too. All else equal, this should benefit European stocks, as European stock markets tend to be full of older, more traditional value stocks. If you want to buy shares, you buy them the same way you'd buy a stock. MFS Announces Closed-End Fund Distributions 19 minutes ago: New Press Release: Calamos Investments Closed-End Funds (NASDAQ: CHI, CHY, CSQ, CGO, CHW, CCD and CPZ) Announce Monthly . This means that if anything goes sideways, JQC is first in line to get paid, and its claims are backed by real collateral. Speaking of energy, good old fashioned oil stocks were some of the best performers in 2022 and the energy sector entered 2023 with strong momentum. A closed-end fund trades on an exchange like a stock. BUT its essential to avoid these stumbling blocks: Every month Income Securities Investor gives you nine meticulously researched recommendations that focus onhigh income generation and principal protection. CEFA's Free BDC Universe Data Page: providing the first central location that we know of, for key BDC data on all US listed public business development companies (BDCs). However, 75.00% of users gave Franklin Systematic Style Premia ETF an outperform vote while only 65.38% of users gave Saba Closed-End Funds ETF an outperform vote. The fund invests in a highly diversified pool of securities with a focus on income generation. You should not draw any conclusions about the Fund's investment performance from the amount of this . Most investors are familiar with mutual funds and exchange-traded funds, but closed-end funds aren't as well . A self-directed IRA can make sense in some situations, but investors must also understand the drawbacks. The number of shares is fixed at the initial public offering (IPO) of the fund and never increases. Learn more about JQC at the Nuveen provider site. Announces Notification of Sources of Distributions, BrandywineGLOBAL - Global Income Opportunities Fund Inc. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Nothing in Contrarian Outlook is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. Investors acquire shares of a fund on a securities exchange at market value. Jim Stacks InvesTech Research (opens in new tab) newsletter, whose motto is safety first, is no stranger to readers of this column. A recent Bloomberg story, for example, said wed need $3 million saved to clock out comfortably! Saratoga-Report is a local news aggregator web site for Saratoga Springs, NY and the city's surrounding towns. Term funds are CEFs with a shelf life. Quote data delayed at least 15 minutes; data powered by Ticker Technologies, and Mergent. Learn more about FDEU at the First Trust provider site. Following the dot-com crash of 2000-2002, European stocks performed exceptionally well as investors fled the growth-centric U.S. market and rotated into the more value-centric European markets. Best email newsletter software for eCommerce. The fund's managers will make investment decisions in accordance with the stated investment objectives of the fund. Money is always coming and going, and there's no hypothetical limit to the amount of new money a popular fund can take in and invest. Also, central bank digital currencies pose an emerging challenge. Debt-Focused Business Development Companies (BDC) Index, In the Nasdaq. Visit our corporate site. Thanks to the work of Mark Hulbert, editor of the Hulbert Financial Digest (opens in new tab), who has been painstakingly tracking newsletter recommendations for 34 years, its possible to separate the gold from the dross. 33 reviews of Times Union "The Times Union . We highlighted a few closed-end funds in February. The Fund's current fiscal year began on November 1, 2022 and will end on October 31, 2023. Mr. Fridson holds an MBA from Harvard, is a Chartered Financial Analyst, and is past president of the Fixed Income Analysts Society. The cost for a one-year subscription is listed, but be sure to check the letters Web site for specials. John Cole Scott: "No time like the present for tax-loss sales", John Cole Scott quoted in FundFire article 'Cliffwater's $8B Interval Fund Leads Way as RIA Market Sales Boom', The NAVigator. Pimco is well known for its suite of actively managed fixed-income investments, with PDI being a great example. Published 11 November 19. investing It also yields a very juicy 9.9%. Like CEM, EMO invests primarily in a portfolio of oil and gas pipeline stocks. Steve Goldberg (opens in new tab) is an investment adviser in the Washington, D.C., area. - Marty Fridsons presentation at the CFA Society of New Yorks 31st High Yield Bond Conference describes the size, structure, and performance of the high yield bond market. Can they beat the indices? The market changed last year, however, as the Fed's pivot to a more hawkish monetary policy drove investors out of flashy growth stocks and into more staid value names. Example of a Closed-End Fund . Ellsworth Growth & Income Fund Ltd. (ECF) price as of 01/23/2023 (YTD) $9.95 + 6.19 %. Luckily for us that number is way off. Costs of Off-Site Work Events Can Rise If Employees Misbehave, The Best REIT Stocks to Buy Now (or Hold), Coca-Cola (KO) Exceeds Earnings Estimates, but Here Are the 5 Best Consumer Staples Stocks to Buy Now, Biden's Inflation Reduction Act: Investing Winners and Losers, 12 REITs Flaunting Fast-Growing Dividends. Nuveen is the #1 closed-end fund provider by AUM. Instead, the letter will continue to offer its analysts gold-rated fundsan approach that has produced market-beating returns. The Clearbridge fund invests in a portfolio of midstream oil and gas pipeline stocks. The indexes were developed to help us monitor our client portfolios as well as help our research/data clients and peers better benchmark themselves. Thats in addition to getting a much bigger dividend than the typical S&P 500 stock dribbles out: 7%+ payouts are, of course, common in the CEF space. Premium Newsletters - Contrarian Outlook. The data is updated weekly and we will be adding BDC educational resources to help educate investors on the sector and investment structure. It's not uncommon to see CEFs trading at a premium to the value of the assets they own. Editor Jim Lowell offers solid investment advice amid a sea of nautical metaphors. With Bitcoin's surge in early 2023, the "crypto winter" began to thaw. (opens in new tab). John Cole Scott goes discount shopping for Black Friday, The NAVigator. Yeah buddy, I replied to one of my players, slice still in hand. Why you should consider investing in this terrific fund now. Simple: The Fed. But so does his fund selection, which includes a longtime overweight in health care stocks. Why are REITs cheap again? Suppose that an open-end income fund is opened to investors and issues 10 million shares at $10 each, raising $100 million for the fund, which it subsequently . A closed-end fund ("CEF") is a type of mutual fund where investors pool their money and a professional money management team oversees the portfolio by selecting the underlying stocks, bonds, and other securities. CEFA currently manages 15 investment portfolio composites styles: To learn more about these models' investment strategies, visit our investment portfolio models page or contact us to request information about our managed accounts. Heres how it works. Investors overly negative take on these essential dividend plays makes zero sense because: The result? His five portfolios hold funds an average of 1 years. Published 11 March 22. investing Fund Advisors. If someone offered to sell you a dollar for 90 cents well, you'd probably think it was too good to be true. But as we saw in 2022, leverage can cut both ways, as losses can also be outsized. Most mutual funds and ETFs yield between 1% and 3%, give or take. Heres how to avoid that fate. Total Assets of Closed-End Funds Were $309 Billion at Year-End 2021 * Includes 0.62% in management fees, 0.04% in other expenses and 0.51% in interest expenses. In a stock picker's market, it's sometimes best to leave the driving to the pros. If you decide to subscribe to a newsletter, resolve to stick with it for at least two or three years. As an industry thought-leader across five decades, the firm is a recognized expert of the closed-end fund investment universe and has deep relationships with industry participants. BlackRock Enhanced Government Fund ( EGF) holds about 36% Treasuries and nearly 50% government-backed securities, currently yielding 3.76% using only 13.66% leverage and an options-overlay . Access to the creators of the newsletter for information on recommendations and investment strategies. John Cole Scott dispels the notion that closed-end funds are only suited for retirees. Risk-adjusted returns have more predictive value than raw returns, countless academic studies have shown. Closed-end funds are funds that have a set number of shares to trade. Real estate is getting thumped, which means real estate investment trusts (REITs) are a bargain once again. Charles Lewis Sizemore, CFA is the Chief Investment Officer of Sizemore Capital Management LLC, a registered investment advisor based in Dallas, Texas, where he specializes in dividend-focused portfolios and in building alternative allocations with minimal correlation to the stock market. By Ellen Kennedy - Marty Fridson to speak to Washington Money Managers on December 14. That's been a rough business to be in since the domestic energy glut became an issue in late 2014. But PHYS, because it is a closed-end fund, can and does often trade at a discount to net asset value. - Traders are talking about a possible return to $100 oil. That means we're getting a massive discount on an already cheap sector. As market. Kiplinger is part of Future plc, an international media group and leading digital publisher. John Cole Scott talks about 'Closed-end fund 2.0' and how it is off to a strong start, The NAVigator. The Nuveen Credit Strategies Income Fund trades at a 9.8% discount to NAV. Closed-End Fund News and Analysis | Closed-End Fund Center Fund Market Insight Report: January 2023 Tom Roseen, Head of Research Services with Refinitiv Lipper provides his latest monthly review of closed-end funds. All Closed-End Funds Income Solutions Fund Opportunistic Credit Fund Yield Opportunities Fund Exchange-Traded Funds DoubleLine's ETF Offerings Opportunistic Bond ETF Shiller CAPE U.S. Equities ETF Fund Documents Strategies Strategies Fixed Income Core Plus Fixed Income Flexible Income Floating Rate Infrastructure Income Income Learn more about EMO at the Clearbridge provider site. By Steven Goldberg CHARLOTTE, N.C., March 1, 2023 /PRNewswire/ -- The Allspring Income Opportunities Fund (NYSE American: EAD), the Allspring Multi-Sector Income Wednesday, 01 March 2023 06:20 GMT Any newsletter can have a bad year, and short-term returns arent predictive of anything. Last updated 14 March 20, investing Has it consistently outperformed or no? A quarterly net loss of 1.7% was delivered by the fund for the third quarter of 2021, versus the 0.6.Sample pack of our Cloud 9 Gummies. You want to find a tax preparer who's qualified, reasonable and knowledgeable to file your taxes. Closed-end funds often sell at massive discounts to net asset value (NAV). The CEF is also structured so that the underlying bonds it owns should be approaching maturity by 2030, further reducing the risk of price declines due to rising yields. We don't own any PIMCO funds in our premium portfolios currently. PHYS is not the only way to play gold, of course. This isn't a long-only fund, nor is it an equity . No-Load Mutual Fund Selections & Timing is Hulberts top performer over the past 10 and 15 years, but I find it difficult to follow. Better still, were going to get in at an unheard-of 13% discount! It targets a $25 net asset value at the end of its term, and the fund trades at a deep 8.0% discount to NAV. Lowell wins special kudos for performing well even though he limits his picks to Fidelity funds, which have been only so-so performers in recent years. Four of the biggest online brokers just cut their commissions to $0 per transaction. Site contents document.write(new Date().getFullYear()) BNK Invest, Inc. Site design document.write(new Date().getFullYear()) Erie Eyrie Software. All returns are for the past 15 years through October 31, unless Hulbert doesnt have data stretching back that far. Fidelity Investor has returned an annualized 7.8% over the past 15 years, an average of 3.2 percentage points per year better than Standard & Poor's 500-stock index. Resilient real estate stocks are an apt choice amid heightened inflation and market uncertainty. The discount to NAV is one of the most appealing aspects of closed-end funds. Currently, PDI's distribution rate based on its NAV stands at 14.3%, so the fund is best held in a tax-advantaged account. To see what Im getting at, lets zero in on a CEF called the Columbia Seligman Premium Technology Growth Fund (STK). The Fund is a diversified, closed-end management investment company whose investment objective is to achieve absolute returns in various market condit . A few of its biggest holdings are solid pipeline firms Energy Transfer (ET (opens in new tab)), Enterprise Products Partners (EPD (opens in new tab)) and MPLX (MPLX (opens in new tab)). (opens in new tab), The 5 Best Actively Managed Fidelity Funds to Buy Now. Closed-end funds (CEFs) are a relatively under-followed type of investment that often provide high income yields. Unit investment trusts (UITs) and mutual funds are both baskets of stocks, bonds, and other securities that pool investors' finances. * Includes 1.22% in management fees, 0.10% in other expenses and 1.02% in interest expenses. CEFA's global investing utilizes a value approach of reasonable risk-taking, tempered by careful analysis of all the underlying factors before investing in potentially more than 40 markets worldwide. Published 18 March 19. mutual funds None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. We may get a recession in 2023, but if you believe any slowdown is likely to be fairly shallow, the Nuveen Credit Strategies Income Fund (JQC (opens in new tab), $5.36) is a solid play. Data will be available on the indexes for additional benchmarking purposes including weighted discount, yield, leverage, duration, beta and other metrics for the underlying constituent funds. Get stock market quotes, personal finance advice, company news and more. Is it a temporary opportunity, trading at an unusually large discount to NAV? - Here is a detailed summary of how the currently proposed tax law changes would affect you: - No, poor performance last quarter doesn't mean you should reduce fixed income exposure. A comparison by current income volatility, safety of dividend, impact of M&A activity, and more. Visit our corporate site. Weekly Closed-End Fund Roundup: February 12, 2023. By Kyle Woodley Subscribe to our daily newsletter to get investing advice, rankings and stock market news. MarketWatch provides the latest stock market, financial and business news. And herein lies the appeal of term funds. Click here to view his presentation: - Hope you'll join me at the Money Show Virtual Expo! John Cole Scott explains why it's important for investors to have granular level data on closed-end funds, Nasdaq Trade Talks. John Cole Scott talks about five 'plain vanilla' closed-end funds, The NAVigator. Investor Psychology (opens in new tab), Dogs of the Dow 2023: 5 Dividend Stocks to Watch. Scott Letter: Closed End Fund Report: Jun '95: Sector Funds Newsletter: Jul '96: Sector GPS: Mar '15: Sound Advice: Jul '15: Sound Mind Investing: - The anti-ESG movement has targeted BlackRock. However, unlike ETFs, CEFs will not accept additional inflows of capital or issue new shares after the IPO. The problem, of course, is that cheap CEFs can stay cheap forever in the absence of a catalyst to close the discount to NAV. Closed end funds are subject to management fees and other expenses. Closed-end funds are a type of mutual fund -- with a twist. After the It ranks fourth among the 25 fund newsletters Hulbert has tracked that long and fourth on a risk-adjusted basis.