The Month In Closed-End Funds: December 2022

Jan. 06, 2023 2:00 PM ET, , , , , , , ,
Tom Roseen
1.71K Followers

Summary

  • For the first month in three, equity CEFs (-3.12% on a NAV basis) on average witnessed negative performance.
  • While their fixed income CEF cohorts (-0.28%) posted losses for the fourth month in five.
  • Only 13% of all CEFs traded at a premium to their NAV at month-end, with 17% of equity CEFs and 10% of fixed income CEFs trading in premium territory.
  • For the first month since June 2019, Developed Markets CEFs (-1.11%) mitigated losses better than the other classifications in the equity CEF universe for December.
  • Equity and fixed income CEFs posted NAV-based returns of 6.39% and 3.82%, respectively for Q4.

The Fed & Inflations - Federal Reserve - Central Banking

Douglas Rissing

Only 21% of all closed-end funds (CEFs) posted net asset value- (NAV) based returns in the black for the month, with just 12% of equity CEFs and 27% of fixed income CEFs chalking up returns in the plus column. For the first month in three, Lipper’s mixed-assets

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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