Closed-End Fund Advisors ("CEFA") is a fee-based Registered Investment Advisory firm founded in 1989. Yield-hungry investors can make use of a variety of income-generating assets. price as of 01/23/2023 (YTD) $10.11 + 1.30 %. Would I be better off owning this active fund, or its passive benchmark? Portfolio management services are on a fee-only basis. So how does our CEF gain magnifier work? Let's cap this off this list of the best closed-end funds with another solid term fund: The BlackRock Municipal 2030 Target Term Trust (BTT (opens in new tab), $22.06). The newsletter addresses the various fixed-income markets, not only with specific recommendations but also with specific guidance; We will keep you up to date on a large universe of securities of past recommendations, giving you specific action-oriented advice; We are proud to present our model portfolios performance for the last 10years. 33 reviews of Times Union "The Times Union . By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. A dollar invested in our Medium Risk Portfolio would be worth $1.80 at the end of 2022. John Cole Scott the high number of closed-end funds are currently trading at premiums, The NAVigator. Rather than simply show up on your normal broker 1099-B or 1099-Div, MLPs come with complicated K1 tax statements. Learn more about BTT at the BlackRock provider site. A closed-end fund is an investment fund that has a limited number of shares to sell to investors. Crypto is going (a bit) crazy and meme stocks (of all things) are back. That's fantastic news for anyone looking to buy today. But here's the fun part and what makes TEAF one of the best closed-end funds to own: The CEF is designed to liquidate in 2031. Why are REITs cheap again? They're invested in a portfolio of securities and managed by an investment firm. Reports on new developments in the fixed income market and educational pieces. As the bull market rolls along and yields from fixed-income investments disappoint, investors seeking cash flow have few options. Vanguard Dividend Growth Reopens. Love em or hate em, annuities are back. . Factsheet Annual Report. As I mentioned months ago, higher interest rates mean not only higher costs of capital for REITs (and all other companies, for that matter), but also more competition for income as bond yields become increasingly competitive. Read more. The Scott Letter: Closed-End Fund Report The Scott Letter, first published in 1988, was regularly published by CEFA for many years. REITs are a fine way to get exposure to real estate. Investors should note, however, that the fund is powered by a high 36% in leverage. Almost all of these closed-end funds offer high yields. 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. Site contents document.write(new Date().getFullYear()) BNK Invest, Inc. Site design document.write(new Date().getFullYear()) Erie Eyrie Software. This isn't a long-only fund, nor is it an equity . Each month our favorite security, for a variety of reasons, is featured on the front page. Each newsletter issue also includes updates onprevious recommendations and expert insights into market conditions and outlook. Saba Closed-End Funds ETF received 28 more outperform votes than Franklin Systematic Style Premia ETF when rated by MarketBeat users. The fund invests in a highly diversified pool of securities with a focus on income generation. UITs are trust funds with a set number of shares and end dates. Get Free Access Why closed-end funds? DD's Market Beating Monthly Paying Portfolios Highest Returning Tax-Free (Muni) Funds ETF Monthly Income Monthly-Paying Retirement Closed-End Fund Monthly Income DIVIDEND DETECTIVE Premium $5 First Month Then $15/mo Cancel Anytime Subscribe Here Learn How to Invest WINNING INVESTING Free site dedicated to making you a winning investor. Updates on interest rate trends and where opportunities appear. * Includes 1.22% in management fees, 0.10% in other expenses and 1.02% in interest expenses. And as always, there's plenty you should know before getting an annuity for yourself. Closed-end funds are a type of mutual fund -- with a twist. Over the last decade, it's . All with very attractive yields. Why this sector should outperform for years to come, By Steven Goldberg Closed-End Fund News and Analysis | Closed-End Fund Center Fund Market Insight Report: January 2023 Tom Roseen, Head of Research Services with Refinitiv Lipper provides his latest monthly review of closed-end funds. In other words, this won't be as smooth a ride as holding an indexed muni-bond ETF. I have been using your newsletter for years to generate retirement income and have been very happy with the results., I have appreciated your newsletters this past year and will continue subscribing. The CEF also utilizes high leverage of about 31.1%. By Steven Goldberg Since its inception in 2013, PDI has an annualized 10.3% total return with distributions reinvested. Shares of closed-end funds frequently trade at a market price that is a discount to their NAV. Is the original crypto making another comeback? (opens in new tab), Best Dividend Stocks You Can Count On in 2023. That's a high yield for a blue-chip stock fund. MDCEX It targets a $25 net asset value at the end of its term, and the fund trades at a deep 8.0% discount to NAV. To learn more about our firm, download our firm's profile presentation. Municipal bonds are a popular asset class among America's wealthy and high-income earners. Closed-end fund shares can trade at a discount or a premium to their so-called net asset value. Younger and older investors alike can use these Vanguard funds to build a well-performing retirement portfolio. No editions have been produced or published since July 2018, however, and CEFA currently has no plans to resume publishing. Published 16 December 22. Income Securities Advisors LLC You should not draw any conclusions about the Fund's investment performance from the amount of this . 2.00% or less. Health care stocks dominate this year's biggest stock market gainers. John Cole Scott talks about The Key Features of a Listed Closed-End Fund and What Makes Them Compelling Investments, The NAVigator. 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. And here's the best part of all: CEM trades at a nearly 14% discount to NAV. John Cole Scott talks about 'Closed-end fund 2.0' and how it is off to a strong start, The NAVigator. Dan Wiener, editor of the Independent Adviser for Vanguard Investors (opens in new tab), has built his success largely by investing inof all thingsVanguards actively managed funds. CEF prices are set by the market the same way a share of Apple (AAPL (opens in new tab)) or Amazon.com (AMZN (opens in new tab)) would be, but that price can vary wildly from the value of the assets the fund holds. Love em or hate em, annuities are back. That came straight from the companys $10-billion investment in OpenAI, ChatGPTs developera move that paid off: Microsoft has its search-engine game back after Bing spent the last decade in the dumpster with 90s throwbacks like AskJeeves and Yahoo. Read more. Market Price and Net Asset Value Performance, 3. 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. CEF Advisors' 30+ CEF/BDC Indexes: We recently launched 30+ indexes cover the entire closed-end fund (CEF) and business development company (BDC) universe. In fact, I've got a simple way that could let you bankroll your retirement on 32% less. Published 18 March 19. Steve has been writing for Kiplinger's for more than 25 years. This CEF has a leverage ratio of 50%, computed as capital from preferred shares divided by net asset value: $5 from preferred shares $10 in net asset value = 50%. Learn more about EMO at the Clearbridge provider site. Like ETFs, CEFs also make periodic distributions, which can consist of dividends, ordinary income, capital gains and return of capital. If someone offered to sell you a dollar for 90 cents well, you'd probably think it was too good to be true. Finally! Mutual funds are open-ended and actively managed, with shares being offered to the public. In a normal economy, longer-dated bonds would pay more than shorter-dated issues. Hulbert places a lot of weight on risk-adjusted returns of newsletters recommended portfolios. For additional information see www.llfadvisors.com, or call 212-319-8903 or contact mlivian@llfadvisors.com. Lets go ahead and grab a slice of AIs furious growth and get ourselves a nice 6% dividend (paid monthly), too. So, apart from the potential gains due to the underlying bonds rising in value and from the tax-free dividend, we should enjoy a nice kicker as the fund's share price approaches NAV at liquidation. Instead, the fund periodically offers to buy back a percentage of outstanding shares. 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 . How do you get a tax professional that's right for you? Another reason EMO is on this list of best closed-end funds: At current prices, it trades at a deep 12.7% discount to NAV. CEFA's primary business is discretionary asset management. Here's what the experts suggest. But so does his fund selection, which includes a longtime overweight in health care stocks. The market changed last year, however, as the Fed's pivot to a more hawkish monetary policy drove investors out of flashy growth stocks and into more staid value names. The 20% in second-lien loans are riskier, of course, as the owner of a second lien generally gets whatever is left over after the senior creditors have been paid. Only time will tell. (opens in new tab), The 5 Best Actively Managed Fidelity Funds to Buy Now. That means we're getting a massive discount on an already cheap sector. CEFA's primary business is discretionary asset management. 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. But either way, it makes sense to own a little real estate, and JRS is a smart way to do so. Kutchers string of successes is impressive: he was an early investor in Uber, Airbnb and Spotify, for example. Read more. Because these (seemingly) tiny investor oversights and errors can give us keen-eyed contrarians our best buying opportunities. Published 7 December 22. The indexes cover both bond and equity sector indexes as well as diversified portfolio objective indexes. - 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. Because REITs have always had a major emphasis on income, investors came to view them as a bond substitute over the past two decades. CEFA Non-Profit Foundation Diversified Income, 7. Probiotics, And More Supplements From Nature's Way Thanks Lora New offer Only Free Stuff Newsletter Subscribe and get only new Free Stuff and Free Samples faster and more reliably!Home / Uncategorized . (opens in new tab), The 9 Best Monthly Dividend Stocks to Buy Right Now. After the Closed-end funds (CEFs) are a relatively under-followed type of investment that often provide high income yields. E-mail: cefa@cefadvisors.com. Announces Notification of Sources of Distributions, BrandywineGLOBAL - Global Income Opportunities Fund Inc. Costs of Off-Site Work Events Can Rise If Employees Misbehave, The Best REIT Stocks to Buy Now (or Hold), Coca-Cola (KO) Exceeds Earnings Estimates, but Here Are the 5 Best Consumer Staples Stocks to Buy Now, Biden's Inflation Reduction Act: Investing Winners and Losers, 12 REITs Flaunting Fast-Growing Dividends. Newsletters Issue Date of Most Recent Profile . 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. You are invited to visit LLFAs New York City office. (opens in new tab). It ranks fourth among the 25 fund newsletters Hulbert has tracked that long and fourth on a risk-adjusted basis. A closed-end fund, or CEF, is an investment company that is managed by an investment firm. Holdings' Asset Allocation, 6. Closed end funds are traded on the secondary market through a stock exchange. 1998 international 4700 dt466e for sale If you are making the Depop purchase using your bank account or credit number, it can also get declined for similar reasons - invalid details, insufficient funds, and transaction limit. - The anti-ESG movement has targeted BlackRock. ESG The cost for a one-year subscription is listed, but be sure to check the letters Web site for specials. 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. A small business might rent a theme park or other venue to reward employees, but if workers dont follow the rules, the company could pay the price. Debt-Focused Business Development Companies (BDC) Index, In the Nasdaq. The CEF is also structured so that the underlying bonds it owns should be approaching maturity by 2030, further reducing the risk of price declines due to rising yields. Grocery bills that drain our wallets faster than we can fill our carts! Read more. CEFs ( unlike ETFs and mutual funds) have fixed share. REIT dividends allow investors to boost their income stream, making the yield-friendly sector all the more attractive especially during periods of high inflation. Currently, PDI's distribution rate based on its NAV stands at 14.3%, so the fund is best held in a tax-advantaged account. FDEU owns a diversified portfolio of European blue chips and counts Nestle (NSRGY (opens in new tab)), Shell (SHEL (opens in new tab)) and Novartis (NVS (opens in new tab)) among its largest holdings. By H. Dennis Beaver, Esq. 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. 1.50% or less. Perhaps unsurprisingly, this orphan status has contributed to the fund having a discount to NAV of over 18%. All Closed-End Funds Income Solutions Fund Opportunistic Credit Fund Yield Opportunities Fund Exchange-Traded Funds DoubleLine's ETF Offerings Opportunistic Bond ETF Shiller CAPE U.S. Equities ETF Fund Documents Strategies Strategies Fixed Income Core Plus Fixed Income Flexible Income Floating Rate Infrastructure Income Income * Includes 1.50% in management fees, 0.28% in other expenses and 0.50% in interest expenses. 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. Therefore, depending on supply and demand, the share price of a CEF can diverge from its net asset value, or NAV, and trade at a premium or a discount. Discounts, 4. Why you should consider investing in this terrific fund now. A comparison by current income volatility, safety of dividend, impact of M&A activity, and more. Or we might see several more quarters of high inflation. Use the newsletter as the best source for self-directed investing and for building your own income securities portfolio. A recent Bloomberg story, for example, said wed need $3 million saved to clock out comfortably! What to do if recession is coming? Today were going to click our way to a dividend stream that matches the average household income stream in America$70,784 per yearand were not going to do it on a much smaller nest egg than most people think is possible. Mr. Fridson holds an MBA from Harvard, is a Chartered Financial Analyst, and is past president of the Fixed Income Analysts Society. In a "normal" year, that acts as a return booster. 02 Higher potential income and return The CEF/ETF Income Laboratory is a top-ranked newsletter service that boasts a community of over 1000 serious income investors dedicated to sharing the best CEF and . and have not been previously reviewed, approved or endorsed by any other Thanks to some awesome market calls, InvesTechs recommendations have returned an annualized 8.7% over the past 15 years--an average of 4.1 percentage points better than the S&P. Thanks to the work of Mark Hulbert, editor of the Hulbert Financial Digest (opens in new tab), who has been painstakingly tracking newsletter recommendations for 34 years, its possible to separate the gold from the dross. John Cole Scott talks about the search for funds in today's 'painful, ugly shocking' closed-end environment, The NAVigator. The broader stock market appears to be on a near-term sugar high. The Fed might be successful in bringing inflation to heel. When you want to invest, you or your broker sends cash to the fund, and the manager takes that fresh cash and uses it to buy assets. Anything can happen next, so you must be mentally prepared. The Source for CEF Investors CEFConnect provides unbiased, straightforward, and comprehensive closed-end fund information. Published 13 December 22. (opens in new tab). Am I chasing yield or does the total return of this fund make sense? (4 min. Is this fund sufficiently non-correlated to the S&P 500, and therefore useful as an accompaniment to the S&P 500 in a portfolio? Closed-end funds raise a certain amount of money through an initial public offering, or IPO,. The potential returns here look juicy, which is why JQC is one of the best closed-end funds to buy. CHY has been a great fund. - Marty Fridsons presentation at the CFA Society of New Yorks 31st High Yield Bond Conference describes a variety of quantitative methods currently being employed in high yield investment management. These REITs offer investors real estate exposure and a steady income stream. - Marty Fridson spoke on inflation, interest rates, and income at the recent MoneyShow Virtual Expo. The discount to NAV is one of the most appealing aspects of closed-end funds. By Jeff Reeves LLFA seeks investors whose goals are principal protection, steady monthly income and high yield. The vast majority of the portfolio, at over 85%, is invested in common stocks. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. (opens in new tab), Dogs of the Dow 2023: 5 Dividend Stocks to Watch. - A lot of the investment advice you hear on TV doesnt really apply to you as an individual investor with a long-term perspective. Future US, Inc. Full 7th Floor, 130 West 42nd Street, That means their market price can be different from their per-share net asset values (NAV, or the value of the stocks they hold in their portfolios). Read more. Nothing in Contrarian Outlook is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. But here's confirmation that some information in financial statements doesn't quickly get incorporated into prices. Here are five of the best-paying closed-end funds to buy for 2023 and one fund trading at a juicy discount. Unit investment trusts (UITs) and mutual funds are both baskets of stocks, bonds, and other securities that pool investors' finances. Its assets are actively managed by the fund's portfolio managers and may be invested in equities, bonds, and other securities. A closed-end fund, legally known as a closed-end investment company, is one of three basic types of investment companies The two other types of investment companies are open-end funds (usually mutual funds) and unit investments trusts (UITs). The app integrates with popular eCommerce platforms, including Shopify, BigCommerce, Magento, WooCommerce, Wix, and more. It comes down to what at first blush seems to be a rather obscure fact: CEFs (which trade on the market, just like stocks or ETFs), generally have a fixed number of shares for the entirety of their lives. Future US, Inc. Full 7th Floor, 130 West 42nd Street, A closed-end fund is the result of an IPO or initial public offering. The ONLY Newsletter providing ADVICE onBONDS, PREFERRED STOCKS, CONVERTIBLES, and other income securities. Food supply is tight, no thanks to droughts and Putins disastrous war (Russia and Ukraine are the worlds No. Access to the creators of the newsletter for information on recommendations and investment strategies. Learn more about CEM at the ClearBridge provider site. When it comes to closed-end funds (or any investment, for that matter), it pays to look for things most people misunderstand. 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. Registration as an investment adviser does not imply any level of skill or training. mutual funds Founded in 1984, Thomas J. Herzfeld Advisors, Inc. is a boutique alternative investment firm focused exclusively on the closed-end fund market. The letter costs $100 a year. We already covered the Ecofin Sustainable and Social Impact Fund (TEAF (opens in new tab)), which has a liquidation date in 2031. The Nuveen Credit Strategies Income Fund trades at a 9.8% discount to NAV. CEFA's global investing utilizes a value approach of reasonable risk-taking, tempered by careful analysis of all the underlying factors before investing in potentially more than 40 markets worldwide. Daily index market price and net asset value pricing. 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 . Another nice aspect of CEFs is that, unlike mutual funds, they can use debt leverage to juice their returns. Finally, food! CHY has been a great fund. And here's where the fun starts. It's been a wild ride for Bitcoin over the last 14 years. It also yields a very competitive 6.9%. Many of . Your subscription also gives you access toportions ofthis website listing alarger number ofpast recommendations, plus valuable pointers onsuccessful investing. Real estate is getting thumped, which means real estate investment trusts (REITs) are a bargain once again. (opens in new tab). With your subscription, you'll receive: Monthly issues of the Forbes/Fridson Income Securities Investor, Click here for a sample. They often trade at deep discounts to NAV, can persist like that for years, and nothing seems to shake them out of that rut. Index Methodology, 2.