For the month only 6% of all closed-end funds (CEFs) posted net asset value (NAV)-based returns in the black, with 5% of equity CEFs and 7% of fixed income CEFs chalking up returns in the plus column. The Real Estate CEFs classification (-1.56%) mitigated losses better than all the other equity classifications, followed by Utility CEFs (-3.05%) and Income & Preferred Stock CEFs (-3.21%). For the first month in eight domestic taxable bond CEFs posted a loss on average (-0.94%), bettering municipal bond CEFs (-1.26%) and world income CEFs (-1.45%). The world income CEFs macro-group was dragged down by the performance of Emerging Markets Debt CEFs (-1.95%) and Global Income CEFs (-1.22%). In this report we highlight October 2018 CEF performance trends, premiums and discounts, and corporate actions and events.
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