For details on speakers and to register: - Is the Fed really damaging future economic growth by creating "zombie" companies that should be failing? Don't let your investment dollars go to pot, By Steven Goldberg For additional information see www.llfadvisors.com, or call 212-319-8903 or contact mlivian@llfadvisors.com. Closed-End Fund Advisors has its corporate headquarters in Richmond, Virginia. Key Points. However, 75.00% of users gave Franklin Systematic Style Premia ETF an outperform vote while only 65.38% of users gave Saba Closed-End Funds ETF an outperform vote. I know better now, of course, but it still strikes me when I hear stories of celebrities going broke, struggling to earn a living or taking on projects just because they desperately need to pay off some kind of debt. Founded in 1984, Thomas J. Herzfeld Advisors, Inc. is a boutique alternative investment firm focused exclusively on the closed-end fund market. Whats the experience of bonds in this comparatively rare situation? A quarterly net loss of 1.7% was delivered by the fund for the third quarter of 2021, versus the 0.6.Sample pack of our Cloud 9 Gummies. Closed-end funds are different. If you want to buy shares, you buy them the same way you'd buy a stock. - TEASER: 10-minute video: Is the credit market signaling recession? A dollar invested in the ICE BofA US Corporate Index over the same period would be worth only $1.22. Most investment newsletters are worthless. Where does the dividend come from? Which is why you and I are smartly prepping for a recession, regardless of what the latest financial narrative is. Its a matter of when rather than ifwhich is what we gladly sign up for as income investors. - Money Life with Chuck Jaffe: Marty Fridson tells how war is changing Fed's battle plan and holding the market to a range. Quote data delayed at least 15 minutes; data powered by Ticker Technologies, and Mergent. Data Tables for CEF Advisors' 30+ Indexes: www.cefdata.com/index, Performance Tables for CEF Advisors' 30+ Indexes: www.cefdata.com/index/performance. Best Parent Student Loans: Parent PLUS and Private. By Dan Burrows They are designed to liquidate at NAV at a specific date in the future. This story was published at an earlier date and has been updated with new information. While more than half its portfolio is in U.S. stocks, Europe accounts for a healthy weighting, too, with the highest allocations to the United Kingdom (10.7%), France (5.6%) and Switzerland (5.4%). And here's where the fun starts. These are nine of the best REITs to buy and hold in the new year. By Charles Lewis Sizemore, CFA This means that if anything goes sideways, JQC is first in line to get paid, and its claims are backed by real collateral. ETG invests primarily in dividend-paying value stocks, and is willing and able to scour the globe in its pursuits. CEFA Non-Profit Foundation Diversified Income, 7. Last year, the ETF monthly income portfolio returned 17 percent compared to 35 percent for the closed-end fund portfolio. At current prices, JRS trades at a 7.3% discount to NAV, which is wide given this CEF's history. As a global manager of managers, we build portfolios for individual and institutional clients, through either direct work with clients or through financial advisors and planners. We highlighted a few closed-end funds in February. The fund manages this risk by holding a first-lien position in 80% of the portfolio. Income Securities Advisors has a referral arrangement with an independent SEC Registered Investment Adviser, Lehmann Livian Fridson Advisors LLC, on income securities on a non-custodial basis. LLFA seeks investors whose goals are principal protection, steady monthly income and high yield. NY 10036. The letters recommendations have been one-third less volatile than the S&P index, helping propel InvesTech to the number-two ranking in Hulberts universe on a risk-adjusted basis. . It ranks number 16 based on raw returns. A closed-end fund is one of three main types of investment companies that the Securities and Exchange Commission regulates. Is the original crypto making another comeback? The 3 Best Closed End Funds Of All Time (Paying Up To 8.6%) More From Forbes Feb 21, 2023,09:38am EST Financial Freedom Is 1 Click Away (Thanks To These 9%+ Dividends) Feb 20, 2023,11:20am EST. Forty cents. Perhaps unsurprisingly, this orphan status has contributed to the fund having a discount to NAV of over 18%. His mix of fundamental and technical indicators strikes me as well thought out. * Closed-end funds may offer the potential for higher regular income than other types of investment products because of their distinct structure and ability to use leverage. * Includes 1.41% in management fees, 0.30% in additional expenses and 1.36% in interest expenses. Enter at Will. But that's where the similarities stop. MFS Announces Closed-End Fund Distributions 19 minutes ago: New Press Release: Calamos Investments Closed-End Funds (NASDAQ: CHI, CHY, CSQ, CGO, CHW, CCD and CPZ) Announce Monthly . ^Premium/Discount to NAV represents the percentage by which the fund's market price exceeds or is less than net asset value (NAV). Here are some of the best picks for 2023. (opens in new tab), Dogs of the Dow 2023: 5 Dividend Stocks to Watch. A closed-end fund is a type of investment company that pools investor contributions together to buy a mix of securities, such as stocks and bonds. And, as an example, look no further than the ClearBridge MLP and Midstream Fund (CEM (opens in new tab), $35.63). The Scott Letter: Closed-End Fund Report The Scott Letter, first published in 1988, was regularly published by CEFA for many years. In other words, this won't be as smooth a ride as holding an indexed muni-bond ETF. Daily index market price and net asset value pricing. Closed-end fund (CEF) investing can be described as an art directed by science. The closed-end fund, or CEF for short. Money is always coming and going, and there's no hypothetical limit to the amount of new money a popular fund can take in and invest. A closed-end fund, or CEF, is an investment company that is managed by an investment firm. When someone mentions AI, the first stock that that likely pops to mind is Microsoft (MSFT) and its flashy move to integrate the ChatGPT AI into its Bing search engine. The Weekly Closed-End Fund . - Here's why we're likely to look back on this as a good time to have increased exposure to income securities. The fund's managers will make investment decisions in accordance with the stated investment objectives of the fund. Here are five of the best-paying closed-end funds to buy for 2023 and one fund trading at a juicy discount. Premium Newsletters - Contrarian Outlook. Why you should consider investing in this terrific fund now. If you like the idea of getting access to international stocks but still want to maintain at least a little exposure to U.S. stocks as well, a global fund like the Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG (opens in new tab), $16.35) is a solid choice. Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail. Speaking of energy, good old fashioned oil stocks were some of the best performers in 2022 and the energy sector entered 2023 with strong momentum. Plus were going to do it safelynot tying up our cash in profitless tech or miserly blue chips dribbling out paltry 1% to 3% dividends. Health care stocks dominate this year's biggest stock market gainers. John Cole Scott: Expect the weak to get stronger in 2023, The NAVigator. Thats why I was intrigued by a recent interview with That 70s Show star Ashton Kutcher, who has built a name for himself in the VC world by investing in tech startups. (opens in new tab). By Kyle Woodley Closed end funds are subject to management fees and other expenses. However, closed-end funds have several important differences compared to the mutual . Learn more about TEAF at the Ecofin provider site. (opens in new tab). In a stock picker's market, it's sometimes best to leave the driving to the pros. * Includes 1.06% in management fees, 0.08% in other expenses and 0.44% in interest expenses. It comes with the turf. Ellsworth Growth & Income Fund Ltd. (ECF) price as of 01/23/2023 (YTD) $9.95 + 6.19 %. Published 3 March 23. Muni-bond CEFs have the same problem that many equity CEFs have. Shares can be bought . Risk-adjusted returns have more predictive value than raw returns, countless academic studies have shown. Can they beat the indices? Site contents document.write(new Date().getFullYear()) BNK Invest, Inc. Site design document.write(new Date().getFullYear()) Erie Eyrie Software. And there's an inflation angle as well. Editor Russ Kinnel recently discontinued the letters model portfolios. Crypto is going (a bit) crazy and meme stocks (of all things) are back. But after years dealing with brutal competitive conditions, the energy infrastructure sector is the leanest and best capitalized it's been in living memory. Mr. Fridson holds an MBA from Harvard, is a Chartered Financial Analyst, and is past president of the Fixed Income Analysts Society. That's not a bad gig. Most investors are familiar with mutual funds and exchange-traded funds, but closed-end funds aren't as well . CEO Martin Fridson is a past governor of the Chartered Financial Analysts Institute, consultant to the Federal Reserve Board of Governors, and author of six books on investments and economics. Almost all of these closed-end funds offer high yields. And you know what else did? If a newsletter doesnt give logical reasons for recommending some funds over others, youre unlikely to stick with it. Published 30 April 19, stocks These are great options for a starter portfolio. Buy Marijuana Stocks Now? The cost for a one-year subscription is listed, but be sure to check the letters Web site for specials. CHY has been a great fund. As market. New York, N.Y. 10001. Updates on our 4 Model portfolios Low-risk, Med-Risk, High-risk, and Multi-Driver. With Bitcoin's surge in early 2023, the "crypto winter" began to thaw. This is important now, because the financial media continues to pump out ridiculous answers to the question of how much most folks need to retire. Because REITs have always had a major emphasis on income, investors came to view them as a bond substitute over the past two decades. By Steven Goldberg CEFA's Free BDC Universe Data Page: providing the first central location that we know of, for key BDC data on all US listed public business development companies (BDCs). Closed-End Funds 101 Closed-End Fund Definition A closed-end fund (CEF) is a publicly traded investment company that can invest in stocks, bonds and other types of securities, based on its investment strategy, and raises capital primarily through an initial public offering (IPO) by issuing a fixed number of shares. Make This Easy Mistake and Youll Miss the Best 7%+ Dividends, This Dividend Stock Pays 5.7%, Can Return Another 79%, This Hack Lets Us Tap ChatGPT for 6% Dividends, These 9%+ Dividends Could Set You Financially Free Tomorrow, Theyre partly the result of low fertilizer prices, which cant last because , The world needs more food: according to the UN Food and Agricultural Organization, global food demand will soar 70% by 2050, and . John Cole Scott: Higher yields and the case for CEFs, BDCs and interval funds with InvestmentNews anchor Gregg Greenberg, The NAVigator. Best Closed-End Funds to Buy Now. Can This 12.7%-Yielding REIT Portfolio Keep It Going? By Jeff Reeves Omnisend (Web) Omnisend is email marketing built for eCommerce, allowing you to build and manage everything from transactional emails to newsletters and automated email flows. 1.50% or less. With that in mind, I list my four favorite letters below. The best closed-end funds will significantly boost your portfolio income and allow you to buy their underlying stocks and bonds at a discount. John Cole Scott reviews the year 2022, Nasdaq Trade Talks. He was named #1 in his category for nine consecutive years on the Institutional Investor All America Research Team. Unlike index funds, PDI isn't restricted to certain issuers, geographies or credit qualities. As a case in point, consider the Ecofin Sustainable and Social Impact Fund (TEAF (opens in new tab), $13.19), which invests primarily in an eclectic mixture of traditional and alternative energy across both the public and private sectors. Also, central bank digital currencies pose an emerging challenge. Suppose that an open-end income fund is opened to investors and issues 10 million shares at $10 each, raising $100 million for the fund, which it subsequently . John Cole Scott: "Rate uncertainty creates values in muni bonds", The NAVigator. Rating changes by Moodys and Standard & Poors on recommendations. Index Methodology, 2. The CEF also utilizes high leverage of about 31.1%. Instead, the fund periodically offers to buy back a percentage of outstanding shares. Find out more bydownloading arecent newsletter: Martin Fridson, CEO of Income Securities Advisors, Inc. Mr. Fridson was a corporate bond research director on Wall Street and is now Chief Investment Officer at Lehmann Livian Fridson Advisors, LLC. Morningstar is in the middle of revamping its fund analysts' methodology. When looking at CEF Connect, how does the funds current discount/premium to NAV compare to their historical premium/discount? We may get a recession in 2023, but if you believe any slowdown is likely to be fairly shallow, the Nuveen Credit Strategies Income Fund (JQC (opens in new tab), $5.36) is a solid play. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. CEFA's primary business is discretionary asset management. Your subscription also gives you access toportions ofthis website listing alarger number ofpast recommendations, plus valuable pointers onsuccessful investing. All returns are for the past 15 years through October 31, unless Hulbert doesnt have data stretching back that far. But PHYS, because it is a closed-end fund, can and does often trade at a discount to net asset value. The Fund's current fiscal year began on November 1, 2022 and will end on October 31, 2023. Has it consistently outperformed or no? Adams Diversified Eq Inc (ADX) N: 17.92: 15.24-15.-8.5: Central Secs (CET)-c : A: 41.99: 35.04-16.6 Published 13 December 22. Most pipeline stocks are organized as master limited partnerships (MLPs). * Includes 0.92% in management fees, 0.13% in other expenses and 0.76% in interest expenses. - Marty Fridsons presentation at the CFA Society of New Yorks 31st High Yield Bond Conference describes the size, structure, and performance of the high yield bond market. It's been a wild ride for Bitcoin over the last 14 years. 10 wheat producers). With all the talk of a soft landing or even no landingthe nightmare inflation scenario in which the economy keeps hummingwe contrarians are going to take a step back. Why this sector should outperform for years to come, By Steven Goldberg The euro performed well relative to the dollar. These seven stocks could benefit the most (and least) from the Inflation Reduction Act, which has been signed into law. meat) and useful animal products (fur/hide, bone/tusks, horn/antler, etc. The letter costs $100 a year. Kutchers string of successes is impressive: he was an early investor in Uber, Airbnb and Spotify, for example. Read more. Like stocks, CEFs debut via an initial public offering, or IPO, where the fund manager issues a fixed quantity of shares. After the All with very attractive yields. Yet these are exactly the kinds of opportunities that arise in the market's best closed-end funds (CEFs). Any newsletter can have a bad year, and short-term returns arent predictive of anything. Closed end funds are traded on the secondary market through a stock exchange. Get Free Access Why closed-end funds? Land and building prices tend to at least keep pace with inflation over time, and commercial rental contracts will generally have rent escalators that will rise. Shares of closed-end funds frequently trade at a market price that is a discount to their NAV. Following the dot-com crash of 2000-2002, European stocks performed exceptionally well as investors fled the growth-centric U.S. market and rotated into the more value-centric European markets. Simple: The Fed. 2.01% or more. Remember when natty prices were supposed to go to the moon this winter? Direct: 804-288-2482 The indexes were developed to help us monitor our client portfolios as well as help our research/data clients and peers better benchmark themselves. A self-directed IRA can make sense in some situations, but investors must also understand the drawbacks. BlackRock Enhanced Government Fund ( EGF) holds about 36% Treasuries and nearly 50% government-backed securities, currently yielding 3.76% using only 13.66% leverage and an options-overlay . Announces Notification of Sources of Distributions, Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions, Eaton Vance Closed-End Funds Release Estimated Sources of Distributions, Three Nuveen Closed-End Funds Announce Availability of 19(a) Notices, Virtus Convertible & Income Fund Announces Quarterly Distribution: 5.625% Series A Cumulative Preferred Shares, Canadian General Investments: Investment Update - Unaudited, Important Fund Performance & Ranking Disclaimer. It ranks fourth among the 25 fund newsletters Hulbert has tracked that long and fourth on a risk-adjusted basis. In these cases, they're effectively worth more dead than alive! Learn more about JQC at the Nuveen provider site. Monday-Saturday: 12:00pm-6:00pm Sunday: Closed *except on show days* 805. surgical instruments importers in russia city of euless water. Would I be better off owning this active fund, or its passive benchmark? Closed-End Fund Advisors, Inc. is an SEC Registered Investment Adviser. Real estate is getting thumped, which means real estate investment trusts (REITs) are a bargain once again. However, unlike exchange-traded funds, CEFs do not have a creation and redemption mechanism and are IPO'd with a fixed number of shares. See locating the leverage status using the closed-end fund screener for more information. That's fantastic news for anyone looking to buy today. Registration as an investment adviser does not imply any level of skill or training. Monthly issues of the Forbes/Fridson Income Securities Investor, Click here for a sample. By Ellen Kennedy Future US, Inc. Full 7th Floor, 130 West 42nd Street, A closed-end fund is the result of an IPO or initial public offering. Today, that discount is 2.5%. Fidelity Investor (opens in new tab) has returned an annualized 7.8% over the past 15 years, an average of 3.2 percentage points per year better than Standard & Poors 500-stock index. Heres how it works. Holdings' Asset Allocation, 6. Whaaa?!? Hunting is the human practice of seeking, pursuing, capturing, or killing wildlife or feral animals. Lets go ahead and grab a slice of AIs furious growth and get ourselves a nice 6% dividend (paid monthly), too. John Cole Scott: "No time like the present for tax-loss sales", John Cole Scott quoted in FundFire article 'Cliffwater's $8B Interval Fund Leads Way as RIA Market Sales Boom', The NAVigator. Closed-end funds are often superior to more traditional open-end funds when it comes to income generation potential. BUT its essential to avoid these stumbling blocks: Every month Income Securities Investor gives you nine meticulously researched recommendations that focus onhigh income generation and principal protection. ETFs 244 Fifth Avenue, Suite L229 Closed-end funds are a type of mutual fund -- with a twist. Investors in traditional energy stocks tend to overlook anything with "sustainable" in the name, and renewable energy investors tend to be put off by the fund's holdings of pipelines.