For the month 74% of all CEFs posted NAV-based returns in the black, with 64% of equity CEFs and 81% of fixed income CEFs chalking up returns in the plus column. As a result of Prime Minister Shinzo Abe’s coalition’s winning a majority in Japan’s snap parliamentary election and with the ECB delivering a dovish QE plan, the Pacific-ex Japan CEFs classification (+4.65%) jumped to the top of the equity charts for the first month in five. And for the eleventh month in a row domestic taxable bond CEFs (+0.62%) posted a plus-side return on average, outpacing their municipal bond CEFs (+0.10%) and world income CEFs (+0.04%) counterparts, as the High Yield CEFs (Leveraged) classification (+0.80%) jumped to the head of the pack. In this report we highlight October 2017 CEF performance trends, premiums and discounts, and corporate actions and events.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.