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Bloomberg: Muni Buyers Can Find Bargains in Unlevered Closed-End Funds

Martin Z Braun
August 18, 2023
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https://herzfeld.com/blog/bloomberg-muni-buyers-can-find-bargains-in-unlevered-closed-end-funds

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Investors looking for bargains in the municipal-bond market may find opportunities in closed-end funds that don’t borrow to boost returns.

Unlevered municipal bond closed-end funds traded at a discount to their net asset value of as much 12.6%, according to data compiled by Bloomberg. The biggest, Nuveen LLC’s $1.9 billion Municipal Value Fund, is trading at a 7.2% discount with a tax-exempt yield of 3.97%. Over 20 years, its average discount is 2.3%.

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Bloomberg: Muni Buyers Can Find Bargains in Unlevered Closed-End Funds
Bloomberg: Muni Buyers Can Find Bargains in Unlevered Closed-End Funds

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