by Tom Roseen.
For the month, 98% of all CEFs posted NAV-based returns in the black, with 97% of equity CEFs and 99% of fixed income CEFs chalking up returns in the plus column. For the first month in six, the Energy MLP CEFs classification (+18.25%, December’s cellar dweller) handily outperformed all the other equity classifications, followed by Natural Resources CEFs (+12.47%) and Growth CEFs (+10.58%). For the first month in four, world income CEFs jumped to the top of the leaderboard, posting a plus-side return on average (+4.25%), followed by domestic taxable fixed income CEFs (+3.23%) and municipal bond CEFs (+0.73%). The world income CEFs macro-group was propelled to the head of the class by strong performance from Emerging Markets Debt CEFs (+6.10%) and Global Income CEFs (+3.38%). For January, the median discount of all CEFs narrowed 369 bps to 8.28%. In this report, we highlight January 2019 CEF performance trends, premiums and discounts, and corporate actions and events.
Download our Closed-End Funds FundMarket Insight Report: The Month in Closed-End Funds: January 2019 here.
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