{"id":70142,"date":"2023-10-08T05:56:03","date_gmt":"2023-10-08T09:56:03","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/the-month-in-closed-end-funds-september-2023\/"},"modified":"2023-10-08T05:56:07","modified_gmt":"2023-10-08T09:56:07","slug":"the-month-in-closed-end-funds-september-2023","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=70142","title":{"rendered":"The Month In Closed-End Funds: September 2023"},"content":{"rendered":"
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For the month, 23% of all closed-end funds (CEFs) posted net asset value (NAV)-based returns in the black, with just 10% of equity CEFs and 33% of fixed income CEFs chalking up returns in the plus column. The average equity and fixed income CEF posted NAV-based losses of 3.12% and 1.94%, respectively, for September.<\/span><\/p>\n

Lipper\u2019s mixed-assets CEFs (-1.93%) macro-group, for the second straight month, mitigated losses better than its two equity-based brethren: domestic equity CEFs (-3.11%) and world equity CEFs (-4.22%). The Energy MLP CEFs classification (-0.72%), also for the second month in a row, remained at the top of the equity leaderboard, followed by Income & Preferred Stock CEFs (-1.29%) and Natural Resources CEFs (-1.52%).<\/p>\n

Year to date, both equity and fixed income CEFs still managed to post plus-side returns on a NAV basis, rising 2.37% and 3.04%, respectively.<\/p>\n

The domestic taxable bond CEFs macro-group\u2014for the second month in a row\u2014outpaced or mitigated losses better than the other two macro-groups in the fixed income universe, posting a 0.24% loss on average, followed by world income CEFs (-0.75%) and municipal debt CEFs (-4.99%). Also, for the second straight month, investors kept Loan Participation CEFs (+0.83%) at the top of the domestic taxable fixed income leaderboard, followed by High Yield CEFs (-0.03%) and General Bond CEFs (-0.09%).<\/p>\n

The median discount of all CEFs widened 165 bps to 12.29% for September\u2014wider than the 12-month moving average median discount (10.02%). Equity CEFs\u2019 median discount widened by 123 bps to 13.11%, while fixed income CEFs\u2019 median discount widened by 124 bps to 11.09%.<\/p>\n

In this report, we highlight September 2023 CEF performance trends, premiums and discounts, and corporate actions and events.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

For the month, 23% of all closed-end funds (CEFs) posted net asset value (NAV)-based returns in the black, with just 10% of equity CEFs and 33% of fixed income CEFs chalking up returns in the plus column. The average equity and fixed income CEF posted NAV-based losses of 3.12% and 1.94%, respectively, for September. Lipper\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":70143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-70142","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nThe Month In Closed-End Funds: September 2023 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"For the month, 23% of all closed-end funds (CEFs) posted net asset value (NAV)-based returns in the black, with just 10% of equity CEFs and 33% of fixed\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=70142\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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