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:
Twenty-Fourth Anniversary
Issue; First Half Performance--A Bumpy Road:
Performance Survey and Rankings First Half and
Second Quarter 2010; Volatile Markets Lead to
Higher Portfolio Turnover Rates; Survey of
Closed-End Fund Turnover Ratios; Maryland
Control Share Acquisition Act--Fundamental
Question Remains; IRS Gives Guidance on Tax
Treatment for Shorter-Term Preferred Shares
(August, 2010)
Buy on Bad News; Demand
Letters, Lawsuits and Reaction from an Unusual
Source; Average Expense Ratios Show Only Small
Improvement: Annual Survey of Closed-End Fund
Expense Ratios; Valuation Prediction Starts to
Come True; First Billion Dollar+ IPO Since 2007
(July,
2010)
A Few Long-Awaited
Opportunities; Quarterly ARPs Update: Lots of
Activity but Few New Redemptions; Investment
Advisor Scorecard; Large Shareholders: In their
Own Words; Review of Proxy Battles and Legal
Action; SPECIAL SECTION: Survey of Declared
Stakes: By Fund and By Shareholder
(June,
2010)
Closed-End Funds Enjoy
Continued Rally: First Quarter Performance
Rankings and Survey; Closed-End Fund "Yields"
Better Aligned with Income: Income Ratio Survey;
Funds of Closed-End Funds: Interview with Doug
Bond, Portfolio Manager of Cohen & Steers
Closed-End Opportunity Fund (FOF); RiskMetrics
Issues Dual Recommendation; Texas Shoot Out;
Fitch Clarifies Guidelines
(May, 2010)
Shift in Media
Perspective; Taxing Surprise: Survey of
Municipal Fund Distributions Subject to AMT;
Auction Rate Preferred Liquidity Crisis
Update: Two Years After the Deep Freeze;
Survey of Declared ARPs Shareholders and
Remaining Outstanding Shares; Voting Issues
Related to ARPs Holdings: Interview with
Warren Antler of the Altman Group
(March, 2010)
Tough Act to Follow:
Annual and Fourth Quarter Performance
Rankings and Survey; Some Premiums Begin to
Evaporate; Herzfeld Research Announces
Expanded Access for Institutional
Subscribers; Taking it Off the Shelf: A look
at secondary offerings by closed-end funds;
Ratings Proposal Met with Indifference;
Where Have All the ARPs Gone?
(February, 2010)
Unusual Year End; New
Year's Buy List; 2009 Year in Review: Annual
Survey of Activity in The Closed-End Fund
Industry; End of 2009 Investment Advisor
ARPs Scorecard
(January, 2010)
Opposite Extremes;
Declared Shareholder Stakes: Surveys by Fund
and Shareholder; SEC Expresses Concerns
about Management Entrenchment; Survey of
State Incorporation and Board Election
Policies; Choice of Forum for Closed-End
Fund Formation; Closed-End Funds Sample New
Flavors of Preferred Leverage
(December, 2009)
Main Street Discovers
Closed-End Funds; Closed-End Funds Turn in
Impressive Performance: Nine Month and Third
Quarter Performance Survey and Rankings;
Lost But Not Forgotten: Survey of Loss
Carryforwards; ARPs Update: Timeline of the
ARPs Liquidity Crisis
(November, 2009)
Yield-Hungry Investors
Narrow Discounts; Investors' Love/Hate
Relationship with Leverage: Survey of
Closed-End Fund Leverage; Tax Wrinkle May
Cause Return of Capital to be Taxable; IPOs
Feature Aggressive "Lifeboats";
Closed-End Fund-Focused Website Debuts
(October, 2009)
Long Quiet Summer;
"Lifeboat" Provisions in Closed-End Funds;
Turning Lemons into Lemonade: UBS Plans to
Repackage and Market ARPs; New Indexes Track
Closed-End Funds
(September, 2009)
Discounts Remain Narrow;
What a Difference a Quarter Makes:
Performance Looking Up; First Half and
Second Quarter Performance Survey and
Rankings; Getting the Rights Right: Trading
Strategies for Rights Offerings; Controversy
Surrounds Telephone Vote Gathering; Nuveen
Shareholder Blocks $750 Million of ARPs
Redemptions
(August, 2009)
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PO Box 161465
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