FYI: For the second consecutive month equity CEFs on average witnessed negative
performance on both a NAV basis and a market basis, declining 5.84% and 9.22%
(the largest monthly market-basis decline since September 30, 2011), respectively,
for October. Also for the second month in a row, their fixed income CEF counterparts
posted negative returns on both a NAV basis (-1.13%) and a market basis (-3.48%).
Worries about slowing global growth, rising interest rates, and the possibility that U.S.
companies have seen peak earnings growth put investors on the defensive, despite
encouraging economic news and a strong beginning to Q3 2018 earnings season.
The Russell 2000 Price Only Index and the NASDAQ Composite Price Only Index—
declining 10.91% and 9.20%—posted the largest losses for the month, while the Dow
Jones Industrial Average Price Only Index (-5.07%) and the S&P 500 Price Only Index
(-6.94%) mitigated losses slightly better.
Regards,
Ted
http://lipperalpha.financial.thomsonreuters.com/wp-content/uploads/2018/11/FMIR-US-CE-M-20181031-TR.pdf
