Our Privacy Statment & Cookie Policy
All LSEG websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.
For the month, 84% of all closed-end funds (CEFs) posted net asset value (NAV)-based returns in the black, with 73% of equity CEFs and 93% of fixed income CEFs chalking up returns in the plus column. For the first month in eight, Lipper’s mixed-assets CEFs (+1.69%) macro-group outpaced its two equity-based brethren: domestic equity CEFs (+1.65%) and world equity CEFs (+0.03%). The Energy MLP CEFs classification (+4.82%) for the third month in row outperformed all other equity classifications, followed by Convertible Securities CEFs (+3.33%, May’s laggard) and Natural Resources CEFs (+2.35%).
For the first month in four, the domestic taxable fixed income CEFs macro-group posted the strongest returns in the fixed income universe, posting a 0.90% return on average, followed by municipal bond CEFs (+0.83%) and world income CEFs (+0.66%). Fixed income investors continued their search for yield. They pushed Corporate Debt BBB-Rated CEFs (+1.43%) to the top of the domestic taxable fixed income leaderboard for the first month in 15, followed by Corporate Debt BBB-Rated CEFs (Leveraged) (+1.35%) and High Yield CEFs (Leveraged) (+1.07%).
For June, the median discount of all CEFs narrowed 38 basis points (bps) to 2.42%—narrower than the 12-month moving average median discount (6.48%). In this report, we highlight June 2021 CEF performance trends, premiums and discounts, and corporate actions and events.
Highlights
Download our Closed-End Funds FundMarket Insight Report: The Month in Closed-End Funds: June 2021 here.
Refinitiv Lipper delivers data on more than 330,000 collective investments in 113 countries. Find out more.