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Ranking of best closed-ended mutual funds based on discount from net asset value (NAV), annual expense ratio, and plans to reduce or eliminate discount. All open-ended mutual funds are guaranteed to perform worse than the securities that they hold. The same applies to many closed-ended mutual funds. However, there is a small group of closed-ended funds, listed below, whose performance expectation is much better than that of the securities they hold. They are not just the best buys among closed-ended mutual funds but are some of the best buys among all stocks whose expected performance can be analyzed mathematically. Unlike other rankings that reflect past performance and are not predictors of future performance, our scientific ranking reflects probability of high future return on investment made today. Our ranking is based on two main factors that are best quantifiable predictors of future returns: NAV discount and Expense Ratio. A third criterion taken into account in our ranking is evaluations of the plans the fund has, if any, to reduce its discount in the near future. All the funds listed below are recommended. Among them, the reader may wish chose those appearing at the top of the list. Some readers may wish to narrow down the selection further by analyzing other unquantifiable factors: investment policy, sector, dividends, and news about these funds. (We have already factored in the news that some of these funds intend to become open-ended funds or to implement another policy to expedite the reduction or elimination of their discount off NAV. A link to a list of news articles about all the funds we recommend, as well as other information, is given at the bottom of this report.) We rank funds traded on U.S. markets; however their portfolios may be composed of stocks traded on U.S. or foreign markets. Typically, the best discounts today are obtained for U.S.-traded funds specializing in overseas markets as well as a few U.S. funds specializing in the U.S. market. Funds with high discount off NAV are likely to reduce their discount in the future, thus offering the investor a good possibility of appreciation of the fund's stock greater than the appreciation of the fund's portfolio. However, funds with high Annual Expense Ratio reduce their investors' profits. Therefore, we balance NAV discount and expense ratio in our rating, as well as funds' intention to actively reduce their discount. The publically-posted data is a week-old. To access daily-fresh data you may wish to
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* rank (9= a steal, 5=excellent, 3=very good, 1=good) | * % discount off NAV | | * Annual Expense Ratio | | | * Fund Symbol | | | | * Plans to eliminate discount: grade (1-5) and type (Opening, | | | | | share Repurchasing, Tender offer, Liquidation, asset Distribution) | | | | | * date: recent price/NAV | | | | | | * Fund name | | | | | | | * investment policy | | | | | | | | | | | | | | | | * admin fee | | | | | | | | |
| 4 | 21 | 1.24 | FOFI | 05/11:7.21/9.14 | Ch Hi Ne Go MS CN CB Bl Ho Se | First Opportunity Fund, Inc | Sector Equity Funds | 1..3 | |
| 4 | 15 | 0.88 | ZTR | 5o | 05/11:3.03/3.56 | Ch Hi Ne Go MS CN CB Bl Ho Se | Zweig Total Return Fund, Inc | Income & Pref Stock Fds | .676 |
| 3 | 22 | 2.03 | FXBY | 05/11:1.57/2.03 | Ch Hi Ne Go MS CN CB Bl Ho Se | Foxby Corp | Growth Funds | .500 | |
| 3 | 14 | 0.59 | TY | 1r | 05/11:15.44/18.00 | Ch Hi Ne Go MS CN CB Bl Ho Se | Tri-Continental Corporation | Core Funds | .426 |
| 3 | 22 | 2.31 | GIFD | 05/11:3.96/5.05 | Ch Hi Ne Go MS CN CB Bl Ho Se | Global Income Fund, Inc | Global Funds | .700 | |
| 3 | 21 | 2.12 | BTF | 05/11:16.72/21.09 | Ch Hi Ne Go MS CN CB Bl Ho Se | Boulder Total Return Fund, Inc | fixed rate preferred stocks and adjustable rate preferred stocks; 25% utilities, 25% banks | 1.910 | |
| 3 | 22 | 2.40 | BIF | 05/11:5.95/7.60 | Ch Hi Ne Go MS CN CB Bl Ho Se | Boulder Growth & Income Fund, Inc | Core Funds | 1.662 | |
| 3 | 13 | 0.58 | ADX | 1r | 05/11:10.7/12.36 | Ch Hi Ne Go MS CN CB Bl Ho Se | Adams Express Company | Diversified sound-co sto | .366 |
| 2 | 14 | 0.71 | CET | 05/11:21.45/24.98 | Ch Hi Ne Go MS CN CB Bl Ho Se | Central Securities Corporation | Stocks; leveraged | .489 | |
| 2 | 13 | 0.56 | PEO | 05/11:24.23/27.96 | Ch Hi Ne Go MS CN CB Bl Ho Se | Petroleum & Resources Corporation | Sector Equity Funds | .333 | |
| 2 | 31 | 5.25 | RCG | 05/11:1.84/2.66 | Ch Hi Ne Go MS CN CB Bl Ho Se | RENN Global Entrepreneurs Fund, Inc | Global Funds | 1.689 | |
| 2 | 14 | 1.10 | ECF | 05/11:7.06/8.24 | Ch Hi Ne Go MS CN CB Bl Ho Se | Ellsworth Fund Ltd | Convertible securities | .778 | |
| 2 | 14 | 1.10 | BCV | 05/11:16.17/18.82 | Ch Hi Ne Go MS CN CB Bl Ho Se | Bancroft Fund Ltd | Convertible securities | .790 | |
| 2 | 14 | 1.08 | ETW | 05/11:10.73/12.48 | Ch Hi Ne Go MS CN CB Bl Ho Se | Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund | Opt Arbitrage/Opt Strat | 1..0 | |
| 2 | 12 | 1.06 | ZF | 1d | 05/11:3.04/3.48 | Ch Hi Ne Go MS CN CB Bl Ho Se | Zweig Fund, Inc | Core Funds | .809 |
| 2 | 19 | 2.64 | DNY | 05/11:14.6/18.13 | Ch Hi Ne Go MS CN CB Bl Ho Se | Denali Fund Inc | Core Funds | 2.177 | |
| 2 | 14 | 1.39 | GAM | 05/11:27.68/32.25 | Ch Hi Ne Go MS CN CB Bl Ho Se | General American Investors Company, Inc | Core Funds | 1.112 | |
| 2 | 13 | 1.15 | EOI | 05/11:10.72/12.40 | Ch Hi Ne Go MS CN CB Bl Ho Se | Eaton Vance Enhanced Equity Income Fund | Opt Arbitrage/Opt Strat | 1..0 | |
| 2 | 12 | 1.05 | USA | 1d | 05/11:4.69/5.32 | Ch Hi Ne Go MS CN CB Bl Ho Se | Liberty All-Star Equity Fund | Multi-mngd; 3 value; 2 g | .922 |
| 2 | 12 | 0.75 | WIW | 05/11:12.84/14.57 | Ch Hi Ne Go MS CN CB Bl Ho Se | Western Asset/Claymore Inflation Linked Opportunities & Income Fund | Corp Debt BBB Rated Fds | .663 | |
| 2 | 12 | 0.68 | WIA | 05/11:12.77/14.43 | Ch Hi Ne Go MS CN CB Bl Ho Se | Western Asset/Claymore Inflation Linked Securities & Income Fund | Corp Debt BBB Rated Fds | .425 | |
| 2 | 13 | 1.14 | EOS | 05/11:10.69/12.30 | Ch Hi Ne Go MS CN CB Bl Ho Se | Eaton Vance Enhanced Equity Income Fund II | Opt Arbitrage/Opt Strat | 1..0 | |
| 2 | 13 | 1.12 | RMT | 05/11:9.01/10.34 | Ch Hi Ne Go MS CN CB Bl Ho Se | Royce Micro-Cap Trust, Inc | Core Funds | .965 | |
| 2 | 12 | 0.98 | RVT | 05/11:13.1/14.95 | Ch Hi Ne Go MS CN CB Bl Ho Se | Royce Value Trust, Inc | Core Funds | .865 | |
| 2 | 12 | 0.98 | MSP | 05/11:11.36/12.92 | Ch Hi Ne Go MS CN CB Bl Ho Se | Madison Strategic Sector Premium Fund | Opt Arbitrage/Opt Strat | .825 | |
| 2 | 12 | 0.96 | SOR | 05/11:51.07/57.84 | Ch Hi Ne Go MS CN CB Bl Ho Se | Source Capital, Inc | Core Funds | .767 | |
| 2 | 10 | 0.64 | ACG | 05/11:8.2/9.15 | Ch Hi Ne Go MS CN CB Bl Ho Se | AllianceBernstein Income Fund, Inc | Corp Debt BBB Rated Fds | .531 | |
| 1 | 19 | 2.78 | RIF | 05/11:16.31/20.02 | Ch Hi Ne Go MS CN CB Bl Ho Se | RMR Real Estate Income Fund | Real Estate Funds | 1.176 | |
| 1 | 13 | 1.33 | FUND | 05/11:6.48/7.44 | Ch Hi Ne Go MS CN CB Bl Ho Se | Royce Focus Trust, Inc | Core Funds | 1.148 | |
| 1 | 12 | 1.09 | ETV | 05/11:12.55/14.28 | Ch Hi Ne Go MS CN CB Bl Ho Se | Eaton Vance Tax-Managed Buy-Write Opportunities Fund | Opt Arbitrage/Opt Strat | 1..0 | |
| 1 | 12 | 1.05 | TKF | 05/11:12.93/14.67 | Ch Hi Ne Go MS CN CB Bl Ho Se | Turkish Investment Fund, Inc | 80% Turkish equity | .820 | |
| 1 | 11 | 0.94 | JLA | 05/11:12.02/13.59 | Ch Hi Ne Go MS CN CB Bl Ho Se | Nuveen Equity Premium Advantage Fund | Opt Arbitrage/Opt Strat | .834 | |
| 1 | 11 | 0.84 | JPZ | 05/11:11.78/13.26 | Ch Hi Ne Go MS CN CB Bl Ho Se | Nuveen Equity Premium Income Fund | Opt Arbitrage/Opt Strat | .748 | |
| 1 | 13 | 1.44 | JOF | 05/11:7.65/8.78 | Ch Hi Ne Go MS CN CB Bl Ho Se | Japan Smaller Capitalization Fund, Inc | Japanese OTC stocks | .973 | |
| 1 | 13 | 1.32 | SWZ | 05/11:10.46/11.97 | Ch Hi Ne Go MS CN CB Bl Ho Se | Swiss Helvetia Fund, Inc | Swiss equity | .829 | |
| 1 | 12 | 1.15 | ETB | 05/11:13.14/14.92 | Ch Hi Ne Go MS CN CB Bl Ho Se | Eaton Vance Tax-Managed Buy-Write Income Fund | Opt Arbitrage/Opt Strat | 1..0 | |
| 1 | 11 | 0.96 | JPG | 05/11:12.87/14.39 | Ch Hi Ne Go MS CN CB Bl Ho Se | Nuveen Equity Premium & Growth Fund | Opt Arbitrage/Opt Strat | .857 | |
| 1 | 10 | 0.71 | MTS | 05/11:15.95/17.69 | Ch Hi Ne Go MS CN CB Bl Ho Se | Montgomery Street Income Securities, Inc | Corp Debt BBB Rated Fds | .478 | |
| 1 | 9 | 1.37 | TDF | 3r | 05/11:27.06/29.75 | Ch Hi Ne Go MS CN CB Bl Ho Se | Templeton Dragon Fund, Inc | Fgn;Asia-Pac stks;45% Ch | 1.293 |
| 1 | 12 | 1.42 | GRF | 05/11:6.58/7.48 | Ch Hi Ne Go MS CN CB Bl Ho Se | Eagle Capital Growth Fund, Inc | P/E ratios <= average for companies in the same industry | .738 | |
| 1 | 11 | 1.40 | IFN | 1r | 05/11:19.9/22.39 | Ch Hi Ne Go MS CN CB Bl Ho Se | India Fund, Inc | At least 65% Indian stoc | 1.125 |
| 1 | 11 | 1.14 | BDJ | 05/11:7.37/8.27 | Ch Hi Ne Go MS CN CB Bl Ho Se | BlackRock Enhanced Equity Dividend Trust | Opt Arbitrage/Opt Strat | .997 | |
| 1 | 11 | 1.09 | GF | 05/11:14.31/16.00 | Ch Hi Ne Go MS CN CB Bl Ho Se | New Germany Fund, Inc | Germany equity | .871 | |
| 1 | 10 | 0.87 | IMF | 05/11:17.89/19.86 | Ch Hi Ne Go MS CN CB Bl Ho Se | Western Asset Inflation Management Fund Inc | Corp Debt BBB Rated Fds | .618 | |
| 1 | 9 | 0.81 | JSN | 05/11:11.99/13.22 | Ch Hi Ne Go MS CN CB Bl Ho Se | Nuveen Equity Premium Opportunity Fund | Opt Arbitrage/Opt Strat | .719 | |
| 1 | 9 | 0.59 | JFP | 05/11:2.46/2.69 | Ch Hi Ne Go MS CN CB Bl Ho Se | Nuveen Tax-Advantaged Floating Rate Fund | Income & Pref Stock Fds | ||
| 1 | 13 | 1.60 | ISL | 05/11:12.98/14.84 | Ch Hi Ne Go MS CN CB Bl Ho Se | Aberdeen Israel Fund, Inc | Emerging Markets Funds | .941 | |
| 1 | 12 | 1.57 | ETO | 05/11:18.53/21.17 | Ch Hi Ne Go MS CN CB Bl Ho Se | Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund | Global Funds | 1..4 | |
| 1 | 11 | 1.38 | IIF | 05/11:14.86/16.78 | Ch Hi Ne Go MS CN CB Bl Ho Se | Morgan Stanley India Investment Fund, Inc | At least 65% Indian stoc | 1.138 | |
| 1 | 12 | 1.89 | JFC | 1r | 02/22:13.08/14.88 | Ch Hi Ne Go MS CN CB Bl Ho Se | JF China Region Fund, Inc | China region stocks | 1..0 |
| 1 | 12 | 1.54 | LGI | 05/11:14.06/15.96 | Ch Hi Ne Go MS CN CB Bl Ho Se | Lazard Global Total Return & Income Fund, Inc | Global Funds | 1.120 | |
| 1 | 10 | 1.11 | CEE | 05/11:30.6/33.98 | Ch Hi Ne Go MS CN CB Bl Ho Se | Central Europe & Russia Fund, Inc | Central Europe stks;Germ | .830 | |
| 1 | 10 | 1.07 | CMK | 05/11:8.42/9.35 | Ch Hi Ne Go MS CN CB Bl Ho Se | MFS InterMarket Income Trust I | 33% each: fixed US Government bonds, foreign governments, high yield | .774 | |
| 1 | 10 | 1.03 | IGR | 05/11:8.06/8.93 | Ch Hi Ne Go MS CN CB Bl Ho Se | CBRE Clarion Global Real Estate Income Fund | Real Estate Funds | .813 | |
| 1 | 10 | 1.01 | CHN | 05/11:21.96/24.34 | Ch Hi Ne Go MS CN CB Bl Ho Se | China Fund, Inc | Chinese secs; non divers | .654 | |
| 1 | 16 | 2.68 | BSP | 05/11:8.41/10.01 | Ch Hi Ne Go MS CN CB Bl Ho Se | American Strategic Income Portfolio Inc II | US Mortgage Funds | .748 | |
| 1 | 14 | 2.21 | NRO | 05/11:4.31/5.03 | Ch Hi Ne Go MS CN CB Bl Ho Se | Neuberger Berman Real Estate Securities Income Fund, Inc | Real Estate Funds | 1..1 | |
| 1 | 13 | 1.99 | TTF | 05/11:16.05/18.47 | Ch Hi Ne Go MS CN CB Bl Ho Se | Thai Fund, Inc | Pacific Ex Japan Funds | .842 | |
| 1 | 11 | 1.50 | ETF | 05/11:19.04/21.45 | Ch Hi Ne Go MS CN CB Bl Ho Se | Aberdeen Emerging Markets Telecommunications & Infrastructure Fund, Inc | 65% equity of telecommunications in emerging countries | 1..2 | |
| 1 | 11 | 1.38 | DCA | 05/11:3.71/4.16 | Ch Hi Ne Go MS CN CB Bl Ho Se | Virtus Total Return Fund | Global Funds | 1..8 | |
| 1 | 11 | 1.36 | MCN | 05/10:7.93/8.88 | Ch Hi Ne Go MS CN CB Bl Ho Se | Madison/Claymore Covered Call & Equity Strategy Fund | Opt Arbitrage/Opt Strat | 1..8 | |
| 1 | 10 | 1.22 | FFA | 05/11:11.85/13.21 | Ch Hi Ne Go MS CN CB Bl Ho Se | First Trust Enhanced Equity Income Fund | Opt Arbitrage/Opt Strat | 1..7 | |
| 1 | 9 | 1.05 | BPP | 05/11:11.39/12.51 | Ch Hi Ne Go MS CN CB Bl Ho Se | BlackRock Credit Allocation Income Trust III | Corp Debt BBB Rated Fds | .815 | |
| 1 | 13 | 2.22 | IRL | 1d | 05/11:7.77/8.91 | Ch Hi Ne Go MS CN CB Bl Ho Se | New Ireland Fund, Inc | Irish stocks | .828 |
| 1 | 10 | 1.40 | GDV | 05/11:15.92/17.76 | Ch Hi Ne Go MS CN CB Bl Ho Se | Gabelli Dividend & Income Trust | Value Funds | 1.216 | |
| 1 | 10 | 1.39 | LDF | 05/11:14.26/15.92 | Ch Hi Ne Go MS CN CB Bl Ho Se | Latin American Discovery Fund, Inc | 80% Latin American eqtys | 1.189 | |
| 1 | 10 | 1.24 | APF | 05/11:13.88/15.38 | Ch Hi Ne Go MS CN CB Bl Ho Se | Morgan Stanley Asia-Pacific Fund, Inc | Asia-Pac eqty;0-50% Japa | 1..7 | |
| 1 | 10 | 1.18 | LAQ | 05/11:32.15/35.55 | Ch Hi Ne Go MS CN CB Bl Ho Se | Aberdeen Latin America Equity Fund, Inc | Argentina, Brazil, Chile and Mexico | .873 | |
| 1 | 9 | 2.01 | APB | 3t | 05/11:10/11.03 | Ch Hi Ne Go MS CN CB Bl Ho Se | Asia Pacific Fund, Inc | 80% Asian markets | 1.199 |
| 1 | 9 | 1.21 | GCF | 05/11:13.31/14.69 | Ch Hi Ne Go MS CN CB Bl Ho Se | Global Income & Currency Fund Inc | Global Income Funds | .877 | |
| 1 | 8 | 0.93 | CII | 05/11:13/14.14 | Ch Hi Ne Go MS CN CB Bl Ho Se | BlackRock Enhanced Capital & Income Fund, Inc | Opt Arbitrage/Opt Strat | .847 | |
| 1 | 13 | 2.00 | DNI | 05/11:3.48/3.98 | Ch Hi Ne Go MS CN CB Bl Ho Se | Dividend & Income Fund, Inc | Income & Pref Stock Fds | 1.229 | |
| 1 | 10 | 1.52 | MSF | 05/11:13.86/15.49 | Ch Hi Ne Go MS CN CB Bl Ho Se | Morgan Stanley Emerging Markets Fund, Inc | Emerging market stks & c | 1.270 | |
| 1 | 10 | 1.51 | MXE | 05/11:11.4/12.72 | Ch Hi Ne Go MS CN CB Bl Ho Se | Mexico Equity & Income Fund, Inc | Mex: 50% cnv; 50% stks&b | .921 | |
| 1 | 10 | 1.38 | JEQ | 05/11:5.24/5.83 | Ch Hi Ne Go MS CN CB Bl Ho Se | Japan Equity Fund, Inc | Developed Market Funds | .610 | |
| 1 | 9 | 1.14 | MSD | 05/11:11.12/12.18 | Ch Hi Ne Go MS CN CB Bl Ho Se | Morgan Stanley Emerging Markets Debt Fund, Inc | Emerging Mkts Debt Funds | 1..9 | |
| 1 | 10 | 1.60 | EEA | 05/11:6.43/7.17 | Ch Hi Ne Go MS CN CB Bl Ho Se | European Equity Fund Inc | Developed Market Funds | .963 | |
| 1 | 10 | 1.43 | IF | 05/11:13.37/14.80 | Ch Hi Ne Go MS CN CB Bl Ho Se | Aberdeen Indonesia Fund, Inc | Pacific Ex Japan Funds | .991 | |
| 1 | 10 | 1.37 | BTO | 05/11:16.68/18.46 | Ch Hi Ne Go MS CN CB Bl Ho Se | John Hancock Bank & Thrift Opportunity Fund | Regl bank & finl svcs st | 1.250 |
Charts and news about the above funds: Yahoo MSN MarketWatch
Updated: 2012/05/12 07:57
Disclaimer: we do not recommend purchase or sale of any particular funds, merely present a compilation and mathematical manipulation of publicly available data; while we try to compile correct data, we cannot guarantee data correctness and are not responsible for its use.
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