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Insight2016-08-01T14:51:33-04:00

Discounts for Closed-End Funds Widen Again, Remain Attractive in Q4

January 28th, 2025|Comments Off on Discounts for Closed-End Funds Widen Again, Remain Attractive in Q4

Following consecutive quarters of discount compression, the universe of closed-end funds (CEFs) saw discounts widen again in the fourth quarter of 2024, averaging close to -6% and yielding about 9%, said John Cole Scott, AICA Chairman and President of Closed-End Fund Advisors (CEF Advisors), during his firm’s 52nd consecutive quarterly research call covering the CEF and business development company (BDC) universe.

Abrdn’s Laranjeiro: Tax-exempt yields are an attractive option now

January 24th, 2025|Comments Off on Abrdn’s Laranjeiro: Tax-exempt yields are an attractive option now

Miguel Laranjeiro, investment director for municipal debt at Abrdn, says the appetite for muni-bond assets has been growing at a point when "tax-exempt yields look really attractive," with tax-equivalent yields running up to 6 percent for ...

First Eagle’s Holzenthaler says credit picture will get brighter with rate cuts

January 17th, 2025|Comments Off on First Eagle’s Holzenthaler says credit picture will get brighter with rate cuts

Larry Holzenthaler, Portfolio Manager for First Eagle Alternative Credit — part of the team running First Eagle Credit Opportunities fund — gives his outlook for credit markets in 2025, noting that after avoiding default troubles when r...

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Disclosure: Views and opinions expressed are for informational and educational purposes only as of the date of production/writing/speaking and may change without notice at any time based on a multitude of factors. Speaker’s/presenter’s/author’s opinions are their own and may not necessarily represent the opinions of AICA, its Board, or its staff. Materials may contain “forward-looking” information that is not purely historical in nature, such as projections, forecasts, market return estimates, proposed or expected portfolio composition, and other items. Listed closed-end funds and business development companies trade on exchanges at prices that may be above or below their NAVs. There is no guarantee that an investor will be able to sell shares at a price greater than or equal to the purchase price or that a closed-end fund’s discount will narrow. Non-listed closed-end funds and business development companies do not offer investors daily liquidity but rather offer liquidity on a monthly, quarterly or semi-annual basis, often on a small percentage of shares. Closed-end funds often use leverage, which can increase the fund’s volatility (i.e., risk). Actual distribution amounts may vary with fund performance and other conditions. Past performance is no guarantee of future results. This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Closed-end funds frequently trade at a discount to their net asset value (NAV).
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Disclaimer Statement

Active Investment Company Alliance The Active Investment Company Alliance (“AICA”) is a trade association committed to educating and engaging investment professionals and investors about closed-end management companies: listed and non-listed closed-end funds, business development companies, interval funds and tender offer funds. The alliance supports transparency and, therefore, does not allow any agent, employee or representative to personally solicit any investment or accept any monies to be invested in a particular fund or security.

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