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

Four classic closed-end funds that remain relevant and vibrant today

September 1st, 2023|Comments Off on Four classic closed-end funds that remain relevant and vibrant today

Veteran money manager David Tepper, president of Tepper Capital Management, looks at four of the oldest closed-end funds -- Adams Diversified Equity, Central Securities, General American Investors and Tri-Continental -- that he has owned for decades, but which remain relevant and effective today, and which are trading at attractive discounts now.

40 closed-end funds, a million ways to build a portfolio

August 25th, 2023|Comments Off on 40 closed-end funds, a million ways to build a portfolio

John Cole Scott, president, Closed-End Fund Advisors -- chairman of the Active Investment Company Alliance -- discusses portfolio construction and the many factors that go into a diversified safe and solid separately managed account with closed-end funds and business-development companies as the primary focus.

Cheryl Pate gives a 2023 banking update

August 22nd, 2023|Comments Off on Cheryl Pate gives a 2023 banking update

Cheryl Pate, Senior Portfolio Manager, Angel Oak Capital Advisors, sat down with Jane King on August 15th, 2023, for a NAVigator interview to talk about the state of the U.S. banking sector in the wake of various bank failures in early 2023.

31Jul, 2025

CEF Performance Stabilizes in Q2, Munis Rock the Boat

By |July 31st, 2025|Articles, CEF Advisors Research and Presentations|

The universe of closed-end funds (CEFs) saw discounts and yield stay roughly in line with the previous quarter, averaging a -4.74% discount and a weighted yield of 8.8%, said John Cole Scott, AICA Chairman and President of Closed-End Fund Advisors (CEF Advisors), during his firm’s 54th consecutive quarterly research call covering the CEF and business development company (BDC) universe.

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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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