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CLOSED-ENDED MUTUAL FUND RANKING PER NAV DISCOUNT

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

* 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
|  |  |     |  |  |                                 |                            |                 |
6475.47RCG 03/07:1.4/2.62 Ch Hi Ne Go MS CN CB Bl Ho SeRENN Global Entrepreneurs Fund, IncGlobal Funds1.794
4211.23FOFI 03/14:9.2/11.65 Ch Hi Ne Go MS CN CB Bl Ho SeFirst Opportunity Fund, IncSector Equity Funds1..9
3211.74BIF 02/21:7.69/9.69 Ch Hi Ne Go MS CN CB Bl Ho SeBoulder Growth & Income Fund, IncValue Funds1.5.
3150.52TY1r03/14:19.62/23.01 Ch Hi Ne Go MS CN CB Bl Ho SeTri-Continental CorporationCore Funds.424
3201.91BTF 02/21:22.57/28.22 Ch Hi Ne Go MS CN CB Bl Ho SeBoulder Total Return Fund, Incfixed rate preferred stocks and adjustable rate preferred stocks; 25% utilities, 25% banks1.635
3171.10ECF 03/14:8.49/10.20 Ch Hi Ne Go MS CN CB Bl Ho SeEllsworth Fund LtdConvertible securities.781
3150.79CET 03/14:22.05/26.09 Ch Hi Ne Go MS CN CB Bl Ho SeCentral Securities CorporationStocks; leveraged.543
3150.78PEO 03/14:27.05/31.85 Ch Hi Ne Go MS CN CB Bl Ho SePetroleum & Resources CorporationNatural Resources Funds.568
3140.69ADX1r03/14:12.84/14.91 Ch Hi Ne Go MS CN CB Bl Ho SeAdams Express CompanyDiversified sound-co sto.507
2202.07DNY 02/21:19.61/24.41 Ch Hi Ne Go MS CN CB Bl Ho SeDenali Fund IncCore Funds1.715
2161.10BCV 03/14:19.74/23.45 Ch Hi Ne Go MS CN CB Bl Ho SeBancroft Fund LtdConvertible securities.769
2140.71WIW 03/14:11.63/13.47 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset/Claymore Inflation Linked Opportunities & Income FundCorp Debt BBB Rated Fds.640
29 0.99ZTR5o03/14:13.88/15.29 Ch Hi Ne Go MS CN CB Bl Ho SeZweig Total Return Fund, IncIncome & Pref Stock Fds.729
2130.71WIA 03/14:11.63/13.37 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset/Claymore Inflation Linked Securities & Income FundCorp Debt BBB Rated Fds.453
2130.87BDJ 03/14:7.74/8.91 Ch Hi Ne Go MS CN CB Bl Ho SeBlackRock Enhanced Equity Dividend TrustOpt Arbitrage/Opt Strat.807
2141.20GAM 03/14:34.65/40.38 Ch Hi Ne Go MS CN CB Bl Ho SeGeneral American Investors Company, IncCore Funds.943
2131.19SGL1d03/14:9.13/10.49 Ch Hi Ne Go MS CN CB Bl Ho SeStrategic Global Income Fund, IncGlobal Income Funds.950
2120.75RVT 03/14:15.6/17.73 Ch Hi Ne Go MS CN CB Bl Ho SeRoyce Value Trust, IncCore Funds.488
2120.63ACG 03/14:7.32/8.29 Ch Hi Ne Go MS CN CB Bl Ho SeAllianceBernstein Income Fund, IncCorp Debt BBB Leveraged.511
2111.31TDF3r03/14:23.38/26.36 Ch Hi Ne Go MS CN CB Bl Ho SeTempleton Dragon Fund, IncFgn;Asia-Pac stks;45% Ch1.248
2141.39IIF 03/14:18.18/21.19 Ch Hi Ne Go MS CN CB Bl Ho SeMorgan Stanley India Investment Fund, IncAt least 65% Indian stoc1.140
2131.29GHI1d03/14:9.71/11.15 Ch Hi Ne Go MS CN CB Bl Ho SeGlobal High Income Fund IncEmg Mkts HC Debt Funds1..2
2130.99TTF 03/14:10.78/12.35 Ch Hi Ne Go MS CN CB Bl Ho SeThai Fund, IncPacific Ex Japan Funds.723
2121.07ZF1d03/14:14.92/16.87 Ch Hi Ne Go MS CN CB Bl Ho SeZweig Fund, IncCore Funds.799
2121.04USA1d03/14:5.8/6.57 Ch Hi Ne Go MS CN CB Bl Ho SeLiberty All-Star Equity FundMulti-mngd; 3 value; 2 g.914
2120.98MSP 03/14:12.3/14.03 Ch Hi Ne Go MS CN CB Bl Ho SeMadison Strategic Sector Premium FundOpt Arbitrage/Opt Strat.980
2141.53RIT 03/14:10.68/12.45 Ch Hi Ne Go MS CN CB Bl Ho SeLMP Real Estate Income Fund IncReal Estate Funds1..7
2121.02MMT 03/14:6.52/7.40 Ch Hi Ne Go MS CN CB Bl Ho SeMFS Multimarket Income TrustGeneral Bond Funds.740
2110.66ICB 03/14:17.53/19.67 Ch Hi Ne Go MS CN CB Bl Ho SeMorgan Stanley Income Securities, IncCorp Debt BBB Rated Fds.500
1131.43SLA 03/14:9.89/11.40 Ch Hi Ne Go MS CN CB Bl Ho SeAmerican Select Portfolio IncUS Mortgage Funds.748
1121.10RMT 03/14:12.44/14.13 Ch Hi Ne Go MS CN CB Bl Ho SeRoyce Micro-Cap Trust, IncCore Funds.815
1121.06MCN 03/14:8.37/9.50 Ch Hi Ne Go MS CN CB Bl Ho SeMadison Covered Call & Equity Strategy FundOpt Arbitrage/Opt Strat1..0
1121.06IGR 03/14:8.28/9.40 Ch Hi Ne Go MS CN CB Bl Ho SeCBRE Clarion Global Real Estate Income FundReal Estate Funds.887
1110.92MCR 03/14:9.11/10.28 Ch Hi Ne Go MS CN CB Bl Ho SeMFS Charter Income TrustGeneral Bond Funds.638
1110.86PPT 03/14:5.44/6.12 Ch Hi Ne Go MS CN CB Bl Ho SePutnam Premier Income TrustGeneral Bond Funds.710
1100.61VBF 03/14:18.26/20.28 Ch Hi Ne Go MS CN CB Bl Ho SeInvesco Bond FundCorp Debt BBB Rated Fds.420
1131.43IF 03/14:9.14/10.50 Ch Hi Ne Go MS CN CB Bl Ho SeAberdeen Indonesia Fund, IncPacific Ex Japan Funds.987
1121.19FFA 03/14:13.25/15.05 Ch Hi Ne Go MS CN CB Bl Ho SeFirst Trust Enhanced Equity Income FundOpt Arbitrage/Opt Strat1..7
1121.13MSD 03/14:9.84/11.13 Ch Hi Ne Go MS CN CB Bl Ho SeMorgan Stanley Emerging Markets Debt Fund, IncEmg Mkts HC Debt Funds1..6
1121.08BOE 03/14:14.68/16.63 Ch Hi Ne Go MS CN CB Bl Ho SeBlackRock Global Opportunities Equity TrustOpt Arbitrage/Opt Strat.998
1110.92VFL 03/14:12.27/13.79 Ch Hi Ne Go MS CN CB Bl Ho SeDelaware Investments National Municipal Income FundGen & Ins Leveraged.589
1102.06GRR5r03/14:10.87/12.12 Ch Hi Ne Go MS CN CB Bl Ho SeAsia Tigers Fund, IncAsian company equities.733
1100.71PAI 03/14:13.27/14.75 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset Income FundCorp Debt BBB Rated Fds.516
1100.71MTS 03/13:16.23/18.02 Ch Hi Ne Go MS CN CB Bl Ho SeMontgomery Street Income Securities, IncCorp Debt BBB Rated Fds.484
1152.10NRO 03/14:4.67/5.50 Ch Hi Ne Go MS CN CB Bl Ho SeNeuberger Berman Real Estate Securities Income Fund, IncReal Estate Funds1.142
1101.17IFN1r03/14:21.2/23.64 Ch Hi Ne Go MS CN CB Bl Ho SeIndia Fund, IncAt least 65% Indian stoc.930
1100.93BNA 03/14:10.22/11.40 Ch Hi Ne Go MS CN CB Bl Ho SeBlackRock Income Opportunity Trust65% U.S. and Canadian mortgage-backed and government securities.700
1100.90PCF 03/14:8.33/9.31 Ch Hi Ne Go MS CN CB Bl Ho SePutnam High Income Securities FundConvertible Sec Funds.700
1100.74CSI 03/14:18.93/21.02 Ch Hi Ne Go MS CN CB Bl Ho SeCutwater Select Income FundCorp Debt BBB Rated Fds.445
1100.71FDI 03/14:14.32/15.89 Ch Hi Ne Go MS CN CB Bl Ho SeFort Dearborn Income Securities, IncCorp Debt BBB Rated Fds.467
19 0.71TAI 03/14:20.99/23.12 Ch Hi Ne Go MS CN CB Bl Ho SeTransamerica Income Shares, IncCorp Debt BBB Rated Fds.525
19 0.69MHF 03/14:7.03/7.76 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset Municipal High Income Fund IncHi Yld Muni Debt Funds.550
1142.03JGG 03/14:11.29/13.19 Ch Hi Ne Go MS CN CB Bl Ho SeNuveen Global Income Oppportunities FundGlobal Income Funds1.250
1131.59ISL 03/14:17.86/20.46 Ch Hi Ne Go MS CN CB Bl Ho SeAberdeen Israel Fund, IncDeveloped Market Funds.939
1121.34SBW 03/14:12.21/13.84 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset Worldwide Income Fund IncEmg Mkts HC Debt Funds1..0
1121.34CHN 03/14:19.59/22.26 Ch Hi Ne Go MS CN CB Bl Ho SeChina Fund, IncChinese secs; non divers.806
1121.31SWZ 03/14:14.31/16.17 Ch Hi Ne Go MS CN CB Bl Ho SeSwiss Helvetia Fund, IncSwiss equity.831
1111.18MRF 03/14:7.66/8.61 Ch Hi Ne Go MS CN CB Bl Ho SeAmerican Income Fund, IncUS Mortgage Funds.747
1111.18BQY 03/14:12.69/14.26 Ch Hi Ne Go MS CN CB Bl Ho SeBlackRock Dividend Income TrustGlobal Funds.747
1111.16JGV 03/14:12.9/14.51 Ch Hi Ne Go MS CN CB Bl Ho SeNuveen Global Equity Income FundGlobal Funds.968
1111.13GLU 03/14:19.78/22.18 Ch Hi Ne Go MS CN CB Bl Ho SeGabelli Global Utility & Income TrustUtility Funds.532
1100.86SOR 03/14:68.17/75.45 Ch Hi Ne Go MS CN CB Bl Ho SeSource Capital, IncCore Funds.688
1152.19RIF 03/14:18.58/21.77 Ch Hi Ne Go MS CN CB Bl Ho SeRMR Real Estate Income FundReal Estate Funds1.269
1131.82RNP 03/14:16.94/19.51 Ch Hi Ne Go MS CN CB Bl Ho SeCohen & Steers REIT & Preferred Income Fund, IncReal Estate Funds.998
1111.25BGR 03/14:23.42/26.34 Ch Hi Ne Go MS CN CB Bl Ho SeBlackRock Energy & Resources TrustNatural Resources Funds1.190
1111.16FUND 03/14:7.87/8.81 Ch Hi Ne Go MS CN CB Bl Ho SeRoyce Focus Trust, IncCore Funds1..4
1101.12ESD 03/14:17.13/19.14 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset Emerging Markets Debt Fund IncEmg Mkts HC Debt Funds.877
1101.10GF 03/14:18.85/21.02 Ch Hi Ne Go MS CN CB Bl Ho SeNew Germany Fund, IncGermany equity.851
1100.94PIM 03/14:5.09/5.65 Ch Hi Ne Go MS CN CB Bl Ho SePutnam Master Intermediate Income TrustGeneral Bond Funds.751
1100.94DVM 03/14:15.28/16.92 Ch Hi Ne Go MS CN CB Bl Ho SeCohen & Steers Dividend Majors Fund, IncCore Funds.808
19 1.00BKT 03/14:6.58/7.27 Ch Hi Ne Go MS CN CB Bl Ho SeBlackRock Income Trust, IncUS Mortgage Funds.798
19 0.94PMO 03/14:11.39/12.56 Ch Hi Ne Go MS CN CB Bl Ho SePutnam Municipal Opportunities TrustGen & Ins Leveraged.716
1132.05IRL1d03/14:14.07/16.17 Ch Hi Ne Go MS CN CB Bl Ho SeNew Ireland Fund, IncIrish stocks.854
1111.47ETF 03/14:12.42/14.04 Ch Hi Ne Go MS CN CB Bl Ho SeAberdeen Emerging Markets Smaller Company Opportunities Fund, Inc65% equity of telecommunications in emerging countries1..0
1111.47AGD 03/14:9.83/11.10 Ch Hi Ne Go MS CN CB Bl Ho SeAlpine Global Dynamic Dividend FundGlobal Funds1..0
1111.43SGF 03/14:12.13/13.68 Ch Hi Ne Go MS CN CB Bl Ho SeAberdeen Singapore Fund, IncDeveloped Market Funds.920
1111.25JOF 03/14:8.65/9.69 Ch Hi Ne Go MS CN CB Bl Ho SeJapan Smaller Capitalization Fund, IncJapanese OTC stocks.930
1101.13LAQ 03/14:24.55/27.29 Ch Hi Ne Go MS CN CB Bl Ho SeAberdeen Latin America Equity Fund, IncArgentina, Brazil, Chile and Mexico.852
1101.13CMK 03/14:8.38/9.35 Ch Hi Ne Go MS CN CB Bl Ho SeMFS InterMarket Income Trust I33% each: fixed US Government bonds, foreign governments, high yield.773
1101.08JEQ 03/14:6.37/7.06 Ch Hi Ne Go MS CN CB Bl Ho SeJapan Equity Fund, IncDeveloped Market Funds.599
1101.08GFY 03/14:17.09/18.97 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset Variable Rate Strategic Fund IncGlobal Income Funds.774
1100.98BHK 03/14:13.2/14.61 Ch Hi Ne Go MS CN CB Bl Ho SeBlackRock Core Bond TrustCorp Debt BBB Leveraged.758
19 0.93CII 03/14:13.86/15.23 Ch Hi Ne Go MS CN CB Bl Ho SeBlackRock Enhanced Capital & Income Fund, IncOpt Arbitrage/Opt Strat.848
1132.01DCA 03/14:4.26/4.93 Ch Hi Ne Go MS CN CB Bl Ho SeVirtus Total Return FundGlobal Funds1.361
1131.91EMI 03/14:11.87/13.60 Ch Hi Ne Go MS CN CB Bl Ho SeEaton Vance Michigan Municipal Income TrustOther States Muni Debt1.354
1101.50FAX1d03/14:5.95/6.62 Ch Hi Ne Go MS CN CB Bl Ho SeAberdeen Asia-Pacific Income Fund, IncGlobal Income Funds.804
1101.26EMD 03/14:12.27/13.67 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset Emerging Markets Income Fund IncEmg Mkts HC Debt Funds1..0
1101.24ERC 03/14:14.52/16.16 Ch Hi Ne Go MS CN CB Bl Ho SeWells Fargo Advantage Multi-Sector Income FundGeneral Bond Funds.795
1101.14KF 03/14:39.1/43.24 Ch Hi Ne Go MS CN CB Bl Ho SeKorea Fund, IncKorean stocks.741
19 1.20IGD 03/14:8.93/9.86 Ch Hi Ne Go MS CN CB Bl Ho SeING Global Equity Dividend & Premium Opportunity FundOpt Arbitrage/Opt Strat1.122
19 1.13FTF 03/14:13.04/14.39 Ch Hi Ne Go MS CN CB Bl Ho SeFranklin Templeton Limited Duration Income TrustGeneral Bond Funds1..3
19 1.00IGA 03/14:11.73/12.85 Ch Hi Ne Go MS CN CB Bl Ho SeING Global Advantage & Premium Opportunity FundOpt Arbitrage/Opt Strat.827
19 0.97JLA 03/14:12.65/13.83 Ch Hi Ne Go MS CN CB Bl Ho SeNuveen Equity Premium Advantage FundOpt Arbitrage/Opt Strat.868
18 0.96JPG 03/14:14.06/15.36 Ch Hi Ne Go MS CN CB Bl Ho SeNuveen Equity Premium & Growth FundOpt Arbitrage/Opt Strat.848
1111.71NZF 03/14:13.09/14.80 Ch Hi Ne Go MS CN CB Bl Ho SeNuveen Dividend Advantage Municipal Fund 3Gen & Ins Leveraged.893
1111.62MXE 03/14:13.6/15.30 Ch Hi Ne Go MS CN CB Bl Ho SeMexico Equity & Income Fund, IncMex: 50% cnv; 50% stks&b1.135
1111.59HTD 03/14:19.3/21.73 Ch Hi Ne Go MS CN CB Bl Ho SeJohn Hancock Tax-Advantaged Dividend Income FundValue Funds1.141
1101.43DDF 03/14:9.38/10.49 Ch Hi Ne Go MS CN CB Bl Ho SeDelaware Investments Dividend & Income Fund, IncIncome & Pref Stock Fds.720
1101.43AKP 03/14:12.73/14.22 Ch Hi Ne Go MS CN CB Bl Ho SeAlliance California Municipal Income Fund, IncCA Muni Debt Funds1..0
1101.41SCD 03/14:16.23/18.10 Ch Hi Ne Go MS CN CB Bl Ho SeLMP Capital & Income Fund IncIncome & Pref Stock Fds1..4
1101.39EMJ 03/14:12.3/13.72 Ch Hi Ne Go MS CN CB Bl Ho SeEaton Vance New Jersey Municipal Bond FundNJ Muni Debt Funds.869
19 1.14EOI 03/14:13.1/14.39 Ch Hi Ne Go MS CN CB Bl Ho SeEaton Vance Enhanced Equity Income FundOpt Arbitrage/Opt Strat1..0
18 0.96JPZ 03/14:12.42/13.54 Ch Hi Ne Go MS CN CB Bl Ho SeNuveen Equity Premium Income FundOpt Arbitrage/Opt Strat.867
1121.77JHP 03/14:8.21/9.29 Ch Hi Ne Go MS CN CB Bl Ho SeNuveen Quality Preferred Income Fund 3Income & Pref Stock Fds1.2.
1111.61NQJ 03/14:13.21/14.85 Ch Hi Ne Go MS CN CB Bl Ho SeNuveen New Jersey Investment Quality Municipal Fund, IncNJ Muni Debt Funds.887
1111.52LGI 03/14:16.76/18.76 Ch Hi Ne Go MS CN CB Bl Ho SeLazard Global Total Return & Income Fund, IncGlobal Funds1.173
1101.54MYM 03/14:12.34/13.77 Ch Hi Ne Go MS CN CB Bl Ho SeBlackRock MuniYield Michigan Quality Fund II, IncOther States Muni Debt.788
19 1.37EMF 03/14:15.81/17.44 Ch Hi Ne Go MS CN CB Bl Ho SeTempleton Emerging Markets FundEmerging Markets Funds1.246
19 1.13IQI 03/14:11.85/12.98 Ch Hi Ne Go MS CN CB Bl Ho SeInvesco Quality Municipal Income TrustGen & Ins Leveraged.419
18 1.08VCV 03/14:11.82/12.89 Ch Hi Ne Go MS CN CB Bl Ho SeInvesco California Value Municipal Income TrustCA Muni Debt Funds.403
1122.11MGU 03/14:23.04/26.32 Ch Hi Ne Go MS CN CB Bl Ho SeMacquarie Global Infrastructure Total Return Fund IncUtility Funds1.361
1111.63BSP 03/14:8.25/9.24 Ch Hi Ne Go MS CN CB Bl Ho SeAmerican Strategic Income Portfolio Inc IIUS Mortgage Funds.771
1101.57KEF 03/14:7.89/8.80 Ch Hi Ne Go MS CN CB Bl Ho SeKorea Equity Fund, IncKorean equity securities.842
1101.56MSF 03/14:14.51/16.19 Ch Hi Ne Go MS CN CB Bl Ho SeMorgan Stanley Emerging Markets Fund, IncEmerging market stks & c1.272
1101.50MIY 03/14:13.24/14.69 Ch Hi Ne Go MS CN CB Bl Ho SeBlackRock MuniYield Michigan Quality Fund, IncOther States Muni Debt.799
1101.49LDF 03/14:11.61/12.88 Ch Hi Ne Go MS CN CB Bl Ho SeLatin American Discovery Fund, Inc80% Latin American eqtys1.193

Charts and news about the above funds: Yahoo MSN MarketWatch

Updated: 2014/03/15 07:39

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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