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Closed-End Fund News
Morningstar Commentaries
Profit From Market Downturns With Deeply Discounted CEFs
Jul. 16, 2015 - Morningstar, Inc. -  The year 2015 has been unkind to many CEFs, but investors can purchase shares at steep discounts.
The Incredible Shrinking CEF Universe
Jun. 18, 2015 - Morningstar, Inc. -  Closed-end funds are quickly becoming an endangered species.
Market Commentaries
GDP Rebounds in Q2 
Jul. 27, 2015 - First Trust -  The US economy rebounded in the second quarter from the supposed decline in real GDP in Q1. We say “supposed decline” in Q1 because the government has had persistent problems seasonally adjusting GDP, tending to underestimate growth in the first quarter each year while overestimating growth in the middle two quarters
The Biotechnology Sector Is Clearly Outperforming “Big Pharma”

Jul. 21, 2015 - First Trust -  View from the Observation Deck
1. From 1995-2014, biotechnology stocks outperformed their pharmaceutical counterparts in 13 of the 20 calendar years (see chart).
2. Over that 20-year period,the NYSE Arca Biotechnology Index posted an average annual return of 20.55%, compared to 12.00% for the S&P 500 Pharmaceuticals Index, according to Bloomberg.
Recent Commentaries
Should You Buy Prospect Capital Corporation? COO Grier Eliasek Gives Some Very Interesting Answers
Jul. 15, 2015 - seekingalpha.com -  Summary

Discount to NAV will disappear in the medium term. Historical evidence to support that.
Rising interest rate environment in favor of the company.
Preferred Securities: Offer Better Value Than High-Yield Bonds

Jul. 15, 2015 - Cohen & Steers -  As economic growth trends higher, conventional wisdom suggests that investors reposition portfolios away from interest-rate-sensitive bonds and into those securities that are more credit sensitive. Within credit-sensitive fixed income, we see better value in preferred securities than in high-yield bonds. This view is supported by the yield spreads between high-yield bonds and investment-grade preferred securities being narrow relative to the historical average.
CEF Industry Reports
Aberdeen Indonesia Fund, Inc. (IF)

Jul. 15, 2015 - Aberdeen Asset Management -  Key points
• Indonesia’s investment appeal is undiminished despite slowing growth
• Joko Widodo now heads a working coalition that forms a majority in legislature
Closed-End Fund

May. 30, 2015 - Cohen & Steers -  We would like to share with you our review and outlook for the closed-end fund market as of May 31, 2015. For the month, the market price total return of the Morningstar U.S. All Taxable ex-Foreign Equity Closed-End Fund Index1 was −0.7%, while its return on net asset value (NAV) was +0.1%. Year to date, the index had a total return of +2.5% based on market price and +2.7% based on NAV. By comparison, the S&P 500 Index2 and the Barclays Capital U.S. Aggregate Bond Index3 had total returns of +1.3% and −0.2% for the month, and +3.2% and +1.0% for the year to date, respectively.
Featured CEF Fund Reports
Aberdeen Indonesia Fund, Inc. (IF)

Jul. 15, 2015 - Aberdeen Asset Management -  Key points
• Indonesia’s investment appeal is undiminished despite slowing growth
• Joko Widodo now heads a working coalition that forms a majority in legislature
Aberdeen Asia-Pacific Income Fund, Inc. (FAX)
Jun. 23, 2015 - Aberdeen Asset Management -  Over the last year the Australian dollar (AUD) has declined significantly, dipping below US$0.76 in mid-April, in response to relatively disappointing retail sales reports, and the worst trade deficit the nation has seen since February of 2008. With imports up 4% and exports down 6% in April versus the same period a year earlier, the seasonally adjusted deficit of $3.888 billion is the largest on record, slightly higher than the previous record of $3.881 billion set in February 2008.1
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