Roger Nusbaum submits: I have written about a lot of different closed-end funds, especially call writing funds. One way I hear about new funds is when they ring the bell at the NYSE open. It has been a while since a new fund rang the bell.
Fewer new issues is a positive. When I first started writing about call writing funds in October 2004, there was only a handful of them. Then they became a fad in 2005. I think the glut of supply contributed to the weaker performance late last year of the group.
If that poor performance served to sate demand for new product we may see these funds stabilize which would be a good thing.
On a related note, a reader asked for other call writing funds. These are the ones on my monitor, but there are more out there. I have only studied a couple of these. The rest I just watch for price action: