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, 92% of all closed-end funds (CEFs) posted net asset value (NAV)-based returns in the black, with 86% of equity CEFs and 97% of fixed income CEFs chalking up returns in the plus column. For the fifth consecutive month, Lipper’s domestic equity CEFs macro-group (+2.19%) outpaced its two equity-based brethren: world equity CEFs (+2.13%) and mixed-assets CEFs (+0.66%). The Energy MLP CEFs classification (+6.74%) for the second month in a row outperformed all other equity classifications, followed by Natural Resources CEFs (+4.34%) and Developed Markets CEFs (+3.29%).
For the second consecutive month, the world income CEFs macro-group posted the strongest returns in the fixed income universe, posting a 1.36% return on average, followed by municipal bond CEFs (+0.91%) and domestic taxable fixed income CEFs (+0.76%). Fixed income investors continued their search for yield. They pushed Corporate Debt BBB-Rated CEFs (Leveraged) (+0.96%) to the top of the domestic taxable fixed income leaderboard for the second month in a row, followed by Loan Participation CEFs (+0.85%) and High Yield CEFs (+0.79%).
For May, the median discount of all CEFs narrowed 121 bps to 2.80%—narrower than the 12-month moving average median discount (7.06%). In this report, we highlight May 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: May 2021 here.
Refinitiv Lipper delivers data on more than 330,000 collective investments in 113 countries. Find out more.