FYI: For the second consecutive month equity CEFs on average witnessed a plus-side return
on a NAV basis, but posting just a 0.14% return for October. For the second month in
three equity CEFs on average suffered a loss (-0.49%) on a market basis. For the third
month in four their fixed income CEF counterparts, gaining 0.33%, were in the black
on a NAV basis, but for the first month in seven they posted a down-side return on a
market basis, declining 0.81%. Despite a bumpy start to October, the U.S. broad-based
indices finished the month on a positive note as Q3 2017 earnings season brought
good cheer and with the Senate passing a budget blueprint for fiscal 2018, which many
thought paved the way for tax reform. The Dow Jones Industrial Average Price Only
Index posted the strongest return (+4.34%) of the domestic indices, while the Russell
2000 Price Only Index was the relative laggard, returning 0.80% for the month
Regards,
Ted
http://lipperalpha.financial.thomsonreuters.com/wp-content/uploads/2017/11/FMIR-US-CE-M-20171031-TR.pdf
