Top Performer CEFs
In week 19, the top performer closed ends mainly consists of bond closed end funds. If we look in further, I could see municipal bond closed end funds are among the top choice for investor. The other top performer categories include emerging markets stock, sector equity, corporate bond, high yield municipal, etc.
Top Performer Closed End Funds in Week 19, 2012 are:
- Firsthand Technology Value (SVVC)
- Morgan Stanley Frontier Emerging Markets (FFD)
- BlackRock Limited Duration Income (BLW)
- Franklin Limited Duration Income (FTF)
- Western Asset Municipal High Income (MHF)
- Eaton Vance OH Municipal Bond (EIO)
- Managed Duration Investment Grade Municipal (MZF)
- BlackRock New Jersey Investment Quality (RNJ)
- Nuveen CA Select Tax-Free (NXC)
- Nuveen Municipal Value 2 (NUW)
The investment aim of Firsthand Technology Value fund is to provide long term capital growth. It provides venture capital to private technology and cleantech companies. This sector equity closed end fund invests in companies with game-changing technology, barriers to entry, experience management team, etc. The fund managers are Kevin Landis, Nick Schwartzman, Phil Mosakowski, and Kelvin Leung.
As of May 2012, the fund portfolio consists of Facebook, Gilt Groupe, Innovion, Intevac, Movius, Silicon Genesis (SiGen), Skyline Solar, SolarCity, SoloPower, Twitter, UCT Coatings, and Yelp. The fund is trading at 32.90% premium to its NAV.
2. Morgan Stanley Frontier Emerging Markets (FFD)
This Morgan Stanley Frontier Emerging Markets fund uses its assets to purchase companies stocks of emerging market countries not included in MSCI emerging Markets Index. It has total net assets of $ 87 million. The annual expense ratio is 2.04%.
YTD Top Performer CEFs May 2012
This emerging markets stock CEF has returned -10.02% over the past year, and 10.96% over the past 3 year. The year to date return is 18.77%. As of January 2012, the top 5 stocks are Burgan Bank, Qatar National Bank, Aramex PJSC, Deutsche Bank AG London, and Industries of Qatar. The top 3 sectors include commercial banks (26.48%), wireless telecommunication (10.80%), and metal & mining (7.72%).
3. BlackRock Limited Duration Income (BLW)
As part of taxable bond fund, the BlackRock Limited Duration Income fund is ranked with 3 stars and neutral rating. This BlackRock fund focuses its assets in intermediate duration bond and senior loans. This fund also has an expense ratio of 1.01% per year. The current total net assets are $877 million.
This top performer high yield closed end fund has a year to date return of 14.24%. The annual portfolio turnover rate is 106%. It also has a dividend yield of 7.1%. The fund has an average coupon of 6.86%.
Disclosure: No Position
Fund Information and Performance
| No | Fund Description | Ticker | Sector | 1 Week Return % | Lipper Rank | Premium / Discount | Effective Leverage | Expense Ratio | Yield |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Firsthand Technology Val | SVVC | Sector Equity | 14.52% | 3 | 32.90% | - | 2.76% | 0.00% |
| 2 | Morg Stan Frontier Em Mk | FFD | Emerging Markets | 6.90% | 5 | -5.70% | - | 2.03% | 1.85% |
| 3 | BlackRock Ltd Dur Inc | BLW | High Curr Yld Lvgd | 4.29% | 3 | 4.20% | 23.01% | 1.00% | 7.36% |
| 4 | Franklin Ltd Dur Inc | FTF | Corp Debt BBB Rtd | 3.81% | 4 | 3.81% | 31.80% | 1.14% | 7.01% |
| 5 | Western Asset Mun Hi Inc | MHF | High Yield Muni | 3.69% | 7 | 4.58% | - | 0.68% | 5.19% |
| 6 | Eaton Vance OH Muni Bd | EIO | Other States Muni | 3.64% | 3 | 7.87% | 37.50% | 1.44% | 5.40% |
| 7 | Mgd Dur Inv Grd Muni | MZF | Gen & Ins Leveraged | 3.30% | 2 | 3.48% | 42.60% | 1.46% | 6.25% |
| 8 | BlackRock NJ Inv Qual | RNJ | NJ Municipal Debt | 3.17% | 7 | -0.86% | 36.27% | 1.53% | 5.80% |
| 9 | Nuveen CA Sel Tx-Free | NXC | CA Municipal Debt | 2.98% | 4 | 0.26% | 1.02% | 0.38% | 4.60% |
| 10 | Nuveen Muni Value 2 | NUW | Gen & Ins Unlevgd | 2.98% | 12 | 0.92% | 10.96% | 0.71% | 5.13% |
| 11 | BlackRock Bld America Bd | BBN | General Bond | 2.98% | 6 | -2.19% | 26.02% | 1.06% | 6.81% |
| 12 | MFS Inv Gr Muni Tr | CXH | Gen & Ins Leveraged | 2.96% | 3 | 4.36% | 31.42% | 1.30% | 6.26% |
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