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™
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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
All
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
PSN Top Guns Rating for Five Herzfeld SMA Strategies Q2/2023
Herzfeld Fixed Income- 1 + 3 Stars in Global Fixed Income UniverseHerzfeld Foreign- 1 S...
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Herzfeld Fixed Income- 1 + 3 Stars in Global Fixed Income Universe

Herzfeld Foreign- 1 Star in Global/International Balanced Universe

Herzfeld Muni Bond- 2 + 3 Stars in All Maturity/Variable and Muni Universe

Herzfeld Special Situations- 3 Stars All Cap Universe

Herzfeld Preferred- 1 + 3 Stars All Maturity/Variable Universe


Disclaimer: Note that readers should review the criteria for each award as reflected on the third party’s webpage. In addition, any awards reflect past performance and may not reflect the current performance or status of the firm and may no longer be applicable. Contact us for more information on how the ratings are apportioned and for full disclosures regarding third party news and awards.

From our desk
to yours, monthly.

Every month 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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