Gone With the Wind?
Closed-End Funds Risk Extinction -
Shares of SEC-registered closed-end funds (CEFs) have long held significant potential advantages for some investors. For example, unlike shares of mutual funds (which are open-end funds), CEF shares cannot be redeemed by the shareholder at any time for their then-current net asset value, allowing a CEF to invest its assets in less liquid securities. This enables a well-managed CEF to provide potentially better returns for investors who have relatively long-term investment horizons, including many investing for retirement income.
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