The Investor's Guide to Closed-End Funds is a monthly report containing trading recommendations on all closed-end funds in every issue. The report also contains commentary by Thomas J. Herzfeld, closed-end fund announcements, dividends, and published managed portfolios showing the actual results of investment programs available to subscribers.
Topics covered in some recent past reports include:
Pocketing Some Profits;
Losses Prompt Equity Funds to Suspend
Managed Payouts; Declared Shareholder
Stakes: Not Only Common but Preferred
Shareholders Also Flex Their Muscles: Survey
of Declared Shareholder Stakes: by Fund and
by Shareholder; Fitch Cracks Down on ARPs
Ratings
(June, 2009)
Discount Narrow
but Remain Wide; First Quarter Performance
Reflects Investors' Desire for Income;
Increased Income, Optical Illusion or Both?
Survey of Income Ratios and Yield; Bitter
Pill to Swallow; Proposed Ban on "Broker
Non-Votes" Won't Apply to Closed-End Funds;
Auction Rate Preferred Update; Subscribers'
Corner
(May, 2009)
The Honeymoon is Over:
Closed-End Fund Discounts Widen Sharply;
Tax-Exempt Income--Well Not Completely,
Table of 2008 Dividends Subject to AMT; Tax
Reclassifications Generally Favor Investors;
ARPs Liquidity Crisis Update: Institutions
Now Hold 44% of Remaining ARPs; Any Room
Under the TARP?
(March, 2009)
After a Rough Year Have
Closed-End Funds Rebounded too Quickly?;
2008 Performance Survey and Rankings: No
Sector Left Unscathed; New IRS Guidance
Could Encourage Stock Distributions; Fixed
Rate Preferreds-Obscure but Interesting;
ARPs Liquidity Crisis Update: 13G Filings of
ARPs Holdings
(February, 2009)
A Dismal Year for the
Record Books; Wide Discounts Reflect Lack of
Investor Confidence; Year-End Buy List;
Focus on Municipal Bond Fund Yields; 2008
The Year in Review: Annual Survey of
Activity in the Closed-End Fund Industry;
ARPs Liquidity Crisis Update: An Educational
Year
(January, 2009)
End-of -Year Trading Update; The
Big Picture; A Comprehensive Review of
Shareholder Activism: Survey of Declared
Stakes by Fund and by Shareholder; Shift in
Shareholder Base: Survey of New
Institutional Investors in Closed-End Funds;
ARPs Crisis Update: De-Leveraging Picks Up
Steam, Early ARPs Ideas Suddenly More
Feasible
(December, 2008)
Wide Discounts Levels Persist; October
Losses Overshadow First Nine Month
Performance Results: Performance Rankings
and Surveys First Nine Months, Third Quarter
and Year-to-Date Through October Lows; ARPs
Crisis Update: Wild Markets Prompt
De-Leveraging Trend, SEC Eases Asset
Coverage Temporarily for Eaton Vance
(November, 2008)
Closed-End Fund Discounts
Hit Historic Levels; Leverage--A
Double-Edged Sword; Table of Closed-End Fund
Leverage; Claymore Supports Secondary Market
in Closed-End Funds; ARPs Crisis Update:
Credit Disruptions = High Penalty Rates,
Congressional Hearings, Billion-Dollar
Settlements
(October, 2008)
Discounts Widen But
Could Widen Even Further; 2008 Directory of
Closed-End Funds; SEC Issues Website
Guidance and Announces a New "IDEA"; ARPs
Crisis Update: Settlements, Slowed Progress,
Conflict and Caution; Survey of Replacement
Leverage
(September, 2008)
22nd Anniversary
Issue: Poor Performance Extends Beyond
First Half: Performance Survey and Rankings;
Premium/Discount Charts Provide Historical
Perspective; Long Awaited SEC Exemptive
Relief Paves Way for New Managed Payouts;
ARPs Crisis Update: Progress on New
Solutions Despite Negative News
(August, 2008)
Expense Ratios Stabilize
as Funds Adjust to New Regulatory
Requirements; Survey of Closed-End Fund
Expense Ratios; Auction Rate Liquidity
Crisis Update: Major Developments in
Creation of New Preferred Shares
(July, 2008)
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Thomas J. Herzfeld Advisors, Inc.
PO Box 161465
Miami, FL 33116
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Thomas J. Herzfeld Advisors, Inc., PO Box 161465, Miami, FL 33116 | Phone: 305-271-1900 |
Toll Free: 800-TJH-FUND |
