Cohen & Steers Closed-End Fund Strategy
Aug. 21, 2014 - Cohen & Steers -
We would like to share with you our review and outlook for the closed-end fund market as of July 31, 2014. For the month, the market price total return of the Morningstar U.S. All Taxable ex-Foreign Equity Closed-End Fund Index(1) was –2.4%, while its return on net asset value (NAV) was –1.8%. Year to date, the index had a total return of 7.8% based on market price and 7.5% based on NAV. By comparison, the S&P 500 Index(2) and the Barclays Capital U.S. Aggregate Bond Index(3) had total returns of –1.4% and –0.3% for the month, and 5.7% and 3.7% for the year to date, respectively.
Closed-End Funds Monthly: July 2014
Aug. 15, 2014 - Wells Fargo Advisors -
The one-month net asset value (NAV) total returns of closed-end funds (CEFs) reflected a risk-off investment environment in July as fixed-income CEFs, on average, outperformed equity CEFs by more than 100 basis points (100 basis points = 1%) for the first time since January 2014 and second time since February 2013 — -0.2% and -1.9%, respectively.