AAII's Guide to Top Web Sites

Closed-End Funds

Closed-end funds differ from mutual funds in that once the fund issues shares, those shares are bought and sold in the open market; unlike a mutual fund, the closed-end fund does not itself stand ready to redeem shares from investors wishing to sell their shares. Shares of closed-end funds trade on the open market and are priced by demand; they sometimes trade at discounts or premiums to their net asset value. Top sites provide fundamental data and performance statistics. Look also for fund screeners and solid educational information.

 CEF Connect  

Provides share prices and ranges for closed-end funds, along with interactive charts and fund basics such as net assets, shares outstanding, category and daily volume. Presents distributions, pricing history, performance and portfolio characteristics of each fund. Offers a screener that works in much the same way as mutual fund screeners. The fund sorter allows you to sort by discount, premium, distribution rate, total assets and year-to-date return. An education center provides articles on closed-end fund basics, types and strategies, along with advanced topics.

 Closed-End Fund Association  

Provides useful information on various categories of closed-end funds (CEFs). Offers daily fund leaders with the highest one-day net asset value appreciation. CEFs are now separated by asset classes, and leverage funds have their own section. The site presents the Lipper market averages and the number of funds within each Lipper category, providing a simple method of comparing individual closed-end funds with the market average for their asset class. Also provides a weekly average premium/discount scorecard for equity and bond CEFs. Provides links to current and archived news relating to closed-end funds and includes an audio section. There is also a section on upcoming offerings.

 Closed-End Funds from Capital Link  

Offers closed-end fund profiles, return performance and other fundamental data. Presents historical data and charts for one-week to five-year returns. Lets you personalize a screen of closed-end funds that are of interest. Fund Filter allows for the sorting of CEFs based on various criteria. Click on the reports section to open a listing of S&P reports for various closed-end funds. A listing of funds is offered (click on Funds at top to show).