On April 11th we held our Quarterly Closed-End Fund, BDC Universe, and Closed-End Interval Fund Update, Outlook, and IPO Review. 
Please watch the replay or download the slides to see what trends we covered in the CEF industry including:
*Discounts & Discount Trends
*Yield and Yield Trends
*Dividend Changes
*Last Quarter’s and Recent Peer-group performance (NAV and Market Price).
*UNII, Earnings and Return of Capital (RoC) Trends
* Recent CEF IPO’s
* Liquidity & Liquidity Trends
* Activist Updates & Trends
* CEF Deaths & Mergers
* NAV vs. Market Price Volatility
* New CEF Universe Data
* 2019 Outlook
* Pre-submitted & Live Q&A
He discussed the value in contractual income from funds and how they might help you get though economic bumps or even a recession. $GHY – PGIM Global High Yield Fund (High Yield Sector)$JRI – Nuveen Real Asset Income & Growth Fund (REIT & Real Asset Fund)
- With a CEF you are buying the common stock of an investment company (the fund) NOT the net asset value (NAV) = Volatility from retail “Fear” & “Greed”.
- Don’t just buy the “Yield” OR “Discount”!
- Analyze After-Tax Yield, Duration, Leverage, Beta to S&P 500 and portfolios holdings Correlation
- Dividend risk too high OR just right? … Look at a fund’ “Leverage Adjusted NAV Yield”
Hold It or Fold It BUY Calls:
$EMO, Clearbridge Midstream Opportunity Fund – MLP Sector$BIT, Blackrock Multi-Sector Income Fund – Multisector Bond Sector
Click HERE to see what John Cole Scott had to say about closed-end funds in a recent ThinkAdvisor article. 
John Cole Scott, chief investment officer at Closed-End Fund Advisors, was recently 
quoted in Bloomberg Businessweek. Click HERE to read the article.
Richmond, VA, October 2, 2018–
CEF Advisors announces it’s launch of data coverage for the interval closed-end fund structure (iCEF) on CEFData.com. This adds to their offering full and robust data 
coverage of all US listed closed-end funds and Business Development Companies (BDCs) since 2012, including the only known public profile pages for BDCs.
iCEFs have been growing in popularity as an alternative investment vehicle in recent years even though the first interval fund is almost 30 years old and the SEC officially recognized iCEFs in 1992. According to our CEFData.com database there are 42 funds with $29 Billion in assets compared to the $280 billion in 564 listed CEF/BDC fund universe. The SEC has approved 17 iCEFs from January 1, 2017 through August 30, 2018 and 10 CEF/BDC fund sponsors have launched at least one iCEF. Read more…
Interval funds (iCEFs) are growing in popularity as an alternative investment vehicle. The SEC officially authorized iCEFs in 1992 as a best of both world’s alternative to closed-ended and open-ended funds. iCEFs had a slow start, the second iCEF wasn’t created until 2001 and the third fund formed in 2005. The structure is a small (0.1%) portion of the overall multitrillion dollar fund industry. However, iCEFs are growing assets quickly, in the 50% range annually with 42 current funds with a combined $28.52B in AUM as of August 31, 2018. This compares to CEF/BDC listed AUM of $280 billion in 564 funds according to CEFData.com. Read more…
John Cole Scott was interviewed by Chuck Jaffe on Money Life on October 1, 2018. Click here to listen to John discuss the following Tickers:
AEF, DNI, EXD, GHY, KTF; during “Hold It or Fold It:” BIF, GOF, JPC, CCD, FMO
Click HERE to stream the audio from this interview or
right click HERE to download the file and listen another time.
MoneyLife host Chuck Jaffe is senior columnist for MarketWatch. His weekly columns are syndicated nationally, and his “Your Funds” column is the most widely read feature on mutual fund investing in America. He is also the host of “Money Life with Chuck Jaffe,” a weekday radio show/podcast. In 2009, Chuck was named to MutualFundWire’s list of the 40 Most Influential People in Fund Distribution, the only journalist ever to make the list. Learn more on their website: http://www.moneylifeshow.com/
