For the month only 55% of all CEFs posted NAV-based returns in the black, with 76% of equity CEFs and 40% of fixed income CEFs chalking up returns in the plus column. A move toward out-of-favor energy-related assets helped the Energy MLP CEFs classification (+9.06%, March’s laggard) jump to the top of the equity charts for the first month in four, followed by Natural Resources CEFs (+6.90%) and Utility CEFs (+2.55%). For the second consecutive month domestic taxable bond CEFs posted a plus-side return on average (+0.34%), bettering their world income CEFs (-0.93%) and municipal bond CEFs (-0.52%) counterparts. In this report we highlight April 2018 CEF performance trends, premiums and discounts, and corporate actions and events.
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