Home Logon FTA Investment Managers Blog Subscribe About Us Contact Us

Search by Ticker, Keyword or CUSIP       
 
 
 
Blog Home
 

  First Quarter 2015 CEF Review
Posted Under: CEFs
The first quarter of 2015 was a decent one for diversified closed-end fund (CEF) investors with the average fund up 2.03%. The continued decline in global interest rates was particularly beneficial to fixed-income CEFs which were up 3.04% for the quarter. While it was a volatile quarter for equities (particularly U.S. equities), the average equity CEF still managed to achieve a gain of 0.44% for the first three months of the year, although domestic equity CEFs were lower by 0.43%.
Leveraged municipal CEFs had a strong quarter (up 3.08%). As I wrote on 1/26/20151, given our Economic Team's forecast that both short- and long-term interest rates could begin to slowly rise this year, I prefer investors focus more on non-levered municipal CEFs (which tend to have less duration risk than leveraged municipal CEFs), while still providing attractive tax-free income as well as important balance in a portfolio. Non-leveraged municipal CEFs also had a strong first quarter of 2015, up 2.87%.

Click here to continue reading.
Posted on Tuesday, April 21, 2015 @ 12:51 PM • Post Link Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Search Posts
INVESTMENT INSIGHTS
Contributors
Dave McGarel
CIO, COO | Bio
  1. Market Minute
Bill Housey
Senior Portfolio Manager | Bio
  1. Income Insights
Ryan Issakainen
ETF Strategist | Bio
  1. ETF Data Watch
  2. ETF Observations
  3. Inside First Trust ETFs
  4. First Trust ROI Podcast
Jeff Margolin
Closed-End Fund Analyst | Bio
  1. Closed-End Fund Quarterly Commentary
Client Resource Kits
  1. Alternatives
  2. Equity
  3. Fixed-Income
  4. Markets In Perspective
  5. Investment Themes
Other Newsletters
  1. Alternatives Update
  2. Housing Tracker
  3. Commercial Real Estate Tracker
  4. Equity Newsletter
  5. Weekly Market Commentary
  6. Weekly Market Watch
Subscribe To Receive Email
 


 PREVIOUS POSTS
Two Trillion Dollars and Counting…
Technology Dividends — A Missing Ingredient in Your Equity Income ETF
Fourth Quarter 2014 CEF Review
Seeking Alpha with Biotechnology ETFs
Commodity ETFs and the Business Cycle
Preparing for the Unexpected with Commodity Futures ETFs
Archive
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

 
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
Follow First Trust:  
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2024 All rights reserved.