The Month In Closed-End Funds: November 2022

Dec. 07, 2022 10:10 PM ET, , , , , , , , , 1 Comment
Tom Roseen
1.71K Followers

Summary

  • For the second month in a row, equity CEFs (+5.16% on a NAV basis) on average witnessed plus-side returns.
  • While their fixed income CEF cohorts (+4.53%) posted gains for the first month in four.
  • Only 19% of all CEFs traded at a premium to their NAV at month end, with 20% of equity CEFs and 17% of fixed income CEFs trading in premium territory.
  • Emerging Markets CEFs (+13.70%) outshined the other classifications in the equity CEF universe for November.
  • For the first month in 23, Emerging Markets Hard Currency Debt CEFs (+9.25%) moved to the top of the leaderboard in the fixed income CEF universe for November.

Wall street sign in New York with New York Stock Exchange background

naphtalina/iStock via Getty Images

For the month, 95% of all closed-end funds (CEFs) posted net-asset-value (NAV)-based returns in the black, with 92% of equity CEFs and 97% of fixed income CEFs chalking up returns in the plus column. For the first month in 23, Lipper’s world equity CEFs (+9.21%) macro-group outpaced

This article was written by

1.71K Followers
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.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

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