Field Notes on
Closed-End Funds

Investment insights and market analysis for institutional investors

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Essential Reading

News
5 min read

★★★★★ 5-Star Overall Morningstar Rating™

Thomas J. Herzfeld Advisors, Inc. is excited to announce it received four 5-Star Overal...
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Thomas J. Herzfeld Advisors, Inc. is excited to announce it received four 5-Star Overall Morningstar Ratings™ for the quarter ended December 31, 2024.

News
5 min read
Bloomberg: Muni Bond Funds Set Up for 20% Gains Even After November’s Surge
Leveraged closed-end funds rallied with broader market Steep discount, Fed cuts, activi...
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Leveraged closed-end funds rallied with broader market Steep discount, Fed cuts, activism seen powering returns

Municipal bond funds that use borrowing as a way to juice returns had a banner month in November, surging almost 12%. Some market watchers say that’s only just the start.

Leveraged closed-end muni funds rallied along with the broader market as evidence of slowing job growth and cooling inflation convinced traders that the Federal Reserve’s rate-rise cycle is over. Further gains may be in store should the central bank pivot to cutting rates next next year, as many now expect.

News
5 min read
Confessions Of A Closed-End Fund Bargain Hunter
Forbes' William Baldwin interviews Erik Herzfeld about opportunities in the closed-end...
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Forbes' William Baldwin interviews Erik Herzfeld about opportunities in the closed-end fund space that are often missed by investors.

News
5 min read
Barron's: Skyward, Mr. Closed-End Fund
Read Article: Thomas J. Herzfeld is interviewed by Barron's and called Mr. Closed-End Fund
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Read Article: Thomas J. Herzfeld is interviewed by Barron's and called Mr. Closed-End Fund.

All Posts

News
All
5 min read
Confessions Of A Closed-End Fund Bargain Hunter
Forbes' William Baldwin interviews Erik Herzfeld about opportunities in the closed-end...
Read more

Forbes' William Baldwin interviews Erik Herzfeld about opportunities in the closed-end fund space that are often missed by investors.

News
All
5 min read
★★★★★ 5-Star Overall Morningstar Rating™
Thomas J. Herzfeld Advisors, Inc. is excited to announce it received three 5-Star Over...
Read more

Thomas J. Herzfeld Advisors, Inc. is excited to announce it received three 5-Star Overall Morningstar Ratings™ for the quarter ended September 30, 2023.

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News
All
5 min read
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%.

News
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5 min read
Best Financial Advisory 2023 Award Recipient!
We are thrilled to share that Thomas J. Herzfeld Advisors has been recognized for excel...
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We are thrilled to share that Thomas J. Herzfeld Advisors has been recognized for excellence and achievement with USA TODAY. Best Financial Advisory Firms of 2023 Award Recipient.

News
All
5 min read
★★★★★ 5-Star Overall Morningstar Rating™
Thomas J. Herzfeld Advisors, Inc. is excited to announce it received three 5-Star Overa...
Read more

Thomas J. Herzfeld Advisors, Inc. is excited to announce it received three 5-Star Overall Morningstar Ratings™ for the quarter ended June 30, 2023.

News
All
5 min read
Pensions & Investments: Herzfeld strategies make Top-Performing Managers list for Q1/2023
While bonds rallied in the first quarter of 2023 amid falling yields and hopes that the...
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We share exclusive insights on closed-end fund opportunities and market trends. A quick, valuable read for institutional investors and family offices.

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