For the month, 84% of all closed-end funds (CEFs) posted net asset value (NAV)-based returns in the black, with 73% of equity CEFs and 93% of fixed income CEFs chalking up returns in the plus column. For the first month in eight, Lipper’s
The Month In Closed-End Funds: June 2021
Summary
- For the eighth month in a row, equity CEFs on average posted positive returns, rising 1.34% on a NAV basis for June.
- While for the fourth month running fixed income CEFs posted plus-side returns (+0.85%).
- Thirty-two percent of all CEFs traded at a premium to their NAV, with 31% of equity CEFs and 33% of fixed income CEFs trading in premium territory.
- Energy MLP CEFs (+4.82%) for the third month in a row posted the strongest one-month returns of the equity classifications in the CEF universe for June.
- For the first month in 15, the Corporate Debt BBB-Rated CEFs (+1.43%) classification posted the strongest plus-side returns in the taxable fixed income CEF universe for June.
Tom Roseen is the Head of Research Services, joining from Janus in 1996. He is the editor and an author of Lipper's U.S. Research Studies, FundFlows Insight Reports and FundIndustry Insight Reports. He is involved in fund analysis and research, and contributes to the monthly and quarterly equity and fixed income FundMarket Insight reports, webcasts and podcasts, where he focuses on domestic and world fund performance and attribution. His areas of expertise include closed-end fund analysis, portfolio evaluation, equity and fixed income fund research, fund flows analysis, after-tax performance and Lipper Leaders. Tom has a BS in finance from Metropolitan State College of Denver and a Master's in International Management from the University of Denver.
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