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CLOSED-ENDED MUTUAL FUND RANKING PER NAV DISCOUNT

Ranking of best closed-ended mutual funds based on discount from net asset value (NAV), annual expense ratio, and plans to reduce or eliminate discount.

All open-ended mutual funds are guaranteed to perform worse than the securities that they hold. The same applies to many closed-ended mutual funds. However, there is a small group of closed-ended funds, listed below, whose performance expectation is much better than that of the securities they hold. They are not just the best buys among closed-ended mutual funds but are some of the best buys among all stocks whose expected performance can be analyzed mathematically.

Unlike other rankings that reflect past performance and are not predictors of future performance, our scientific ranking reflects probability of high future return on investment made today. Our ranking is based on two main factors that are best quantifiable predictors of future returns: NAV discount and Expense Ratio. A third criterion taken into account in our ranking is evaluations of the plans the fund has, if any, to reduce its discount in the near future.

All the funds listed below are recommended. Among them, the reader may wish chose those appearing at the top of the list. Some readers may wish to narrow down the selection further by analyzing other unquantifiable factors: investment policy, sector, dividends, and news about these funds. (We have already factored in the news that some of these funds intend to become open-ended funds or to implement another policy to expedite the reduction or elimination of their discount off NAV. A link to a list of news articles about all the funds we recommend, as well as other information, is given at the bottom of this report.)

We rank funds traded on U.S. markets; however their portfolios may be composed of stocks traded on U.S. or foreign markets. Typically, the best discounts today are obtained for U.S.-traded funds specializing in overseas markets as well as a few U.S. funds specializing in the U.S. market.

Funds with high discount off NAV are likely to reduce their discount in the future, thus offering the investor a good possibility of appreciation of the fund's stock greater than the appreciation of the fund's portfolio. However, funds with high Annual Expense Ratio reduce their investors' profits. Therefore, we balance NAV discount and expense ratio in our rating, as well as funds' intention to actively reduce their discount.

* rank (9= a steal, 5=excellent, 3=very good, 1=good) 
|  * % discount off NAV 
|  |  * Annual Expense Ratio
|  |  |     * Fund Symbol 
|  |  |     |  * Plans to eliminate discount: grade (1-5) and type (Opening,
|  |  |     |  |                    share Repurchasing, Tender offer, Liquidation, asset Distribution)
|  |  |     |  |  * date: recent price/NAV 
|  |  |     |  |  |                                 * Fund name 
|  |  |     |  |  |                                 |                            * investment policy
|  |  |     |  |  |                                 |                            |
|  |  |     |  |  |                                 |                            |                 * admin fee
|  |  |     |  |  |                                 |                            |                 |
4200.72CET 05/20:19.59/24.44 Ch Hi Ne Go MS CN CB Bl Ho SeCentral Securities CorporationStocks; leveraged.500
3221.48BIF 05/20:7.86/10.04 Ch Hi Ne Go MS CN CB Bl Ho SeBoulder Growth & Income Fund, IncValue Funds1.201
3160.68RVT 05/20:11.58/13.84 Ch Hi Ne Go MS CN CB Bl Ho SeRoyce Value Trust, IncCore Funds.500
3222.06RIF 05/20:19.26/24.55 Ch Hi Ne Go MS CN CB Bl Ho SeRMR Real Estate Income FundReal Estate Funds1.242
3181.17GAM 05/20:30.48/37.19 Ch Hi Ne Go MS CN CB Bl Ho SeGeneral American Investors Company, IncCore Funds.921
3150.50TY 05/20:20.06/23.67 Ch Hi Ne Go MS CN CB Bl Ho SeTri-Continental CorporationCore Funds.422
3160.96ADX 05/20:12.49/14.92 Ch Hi Ne Go MS CN CB Bl Ho SeAdams Diversified Equity FundDiversified sound-co sto.438
3161.04USA 05/20:4.89/5.85 Ch Hi Ne Go MS CN CB Bl Ho SeLiberty All-Star Equity FundMulti-mngd; 3 value; 2 g.905
2161.35SCD 05/20:12.51/14.97 Ch Hi Ne Go MS CN CB Bl Ho SeLMP Capital & Income Fund IncIncome & Pref Stock Fds1.037
2161.10BCV 05/20:18.01/21.34 Ch Hi Ne Go MS CN CB Bl Ho SeBancroft Fund LtdConvertible securities.775
2161.19AGD 05/20:8.39/9.94 Ch Hi Ne Go MS CN CB Bl Ho SeAlpine Global Dynamic Dividend FundGlobal Funds1.025
2151.10ECF 05/20:7.57/8.92 Ch Hi Ne Go MS CN CB Bl Ho SeEllsworth Growth and Income Fund LtdConvertible securities.761
2171.65DNI 05/20:10.96/13.21 Ch Hi Ne Go MS CN CB Bl Ho SeDividend & Income FundIncome & Pref Stock Fds1.218
2151.26PEO 05/20:18.8/22.22 Ch Hi Ne Go MS CN CB Bl Ho SeAdams Natural Resources FundNatural Resources Funds.565
2151.19IGR 05/20:7.71/9.07 Ch Hi Ne Go MS CN CB Bl Ho SeCBRE Clarion Global Real Estate Income FundReal Estate Funds.950
2161.55ISL 05/20:16.18/19.34 Ch Hi Ne Go MS CN CB Bl Ho SeAberdeen Israel Fund, IncDeveloped Market Funds.955
2140.97NFJ 05/20:12.25/14.23 Ch Hi Ne Go MS CN CB Bl Ho SeAllianzGI NFJ Dividend, Interest & Premium Strategy FundOpt Arbitrage/Opt Strat.900
2161.46LGI 05/20:12.5/14.82 Ch Hi Ne Go MS CN CB Bl Ho SeLazard Global Total Return & Income Fund, IncGlobal Funds1.086
2151.47SGF 05/20:8.71/10.30 Ch Hi Ne Go MS CN CB Bl Ho SeAberdeen Singapore Fund, IncDeveloped Market Funds.884
2151.41GLU 05/20:17.46/20.60 Ch Hi Ne Go MS CN CB Bl Ho SeGabelli Global Utility & Income TrustUtility Funds.797
2141.16MSD 05/20:9.07/10.58 Ch Hi Ne Go MS CN CB Bl Ho SeMorgan Stanley Emerging Markets Debt Fund, IncEmg Mkts HC Debt Funds1.033
2141.08TTF 05/20:7.37/8.56 Ch Hi Ne Go MS CN CB Bl Ho SeThai Fund, IncPacific Ex Japan Funds.794
2171.90LOR 05/20:8.88/10.69 Ch Hi Ne Go MS CN CB Bl Ho SeLazard World Dividend & Income Fund, IncGlobal Funds1.211
2151.44SBW 05/20:10.46/12.28 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset Worldwide Income Fund IncEmg Mkts HC Debt Funds1.050
2141.28RMT 05/20:7.2/8.41 Ch Hi Ne Go MS CN CB Bl Ho SeRoyce Micro-Cap Trust, IncCore Funds.935
2141.15SWZ 05/20:10.18/11.81 Ch Hi Ne Go MS CN CB Bl Ho SeSwiss Helvetia Fund, IncSwiss equity.748
2141.11JOF 05/20:9.65/11.16 Ch Hi Ne Go MS CN CB Bl Ho SeJapan Smaller Capitalization Fund, IncJapanese OTC stocks.879
2130.96JEQ 05/20:7.6/8.75 Ch Hi Ne Go MS CN CB Bl Ho SeAberdeen Japan Equity Fund, IncDeveloped Market Funds.456
2141.36TDF 05/20:16.27/19.00 Ch Hi Ne Go MS CN CB Bl Ho SeTempleton Dragon Fund, IncFgn;Asia-Pac stks;45% Ch1.249
2141.34CHN 05/20:13.61/15.85 Ch Hi Ne Go MS CN CB Bl Ho SeChina Fund, IncChinese secs; non divers.820
2141.33EMD 05/20:10.51/12.23 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset Emerging Markets Income Fund IncEmg Mkts HC Debt Funds1.050
2120.85BDJ 05/20:7.53/8.57 Ch Hi Ne Go MS CN CB Bl Ho SeBlackRock Enhanced Equity Dividend TrustOpt Arbitrage/Opt Strat.796
2161.81GCH 05/20:8.1/9.61 Ch Hi Ne Go MS CN CB Bl Ho SeAberdeen Greater China Fund, IncChinese stocks; pfds; co1.067
2151.57IF 05/20:5.66/6.63 Ch Hi Ne Go MS CN CB Bl Ho SeAberdeen Indonesia Fund, IncEmerging Markets Funds1.037
2141.33ESD 05/20:14.63/16.94 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset Emerging Markets Debt Fund IncEmg Mkts HC Debt Funds1.008
2131.12FFA 05/20:12.77/14.67 Ch Hi Ne Go MS CN CB Bl Ho SeFirst Trust Enhanced Equity Income FundOpt Arbitrage/Opt Strat1.036
2141.44TKF 05/20:8.15/9.46 Ch Hi Ne Go MS CN CB Bl Ho SeTurkish Investment Fund, Inc80% Turkish equity.989
2131.30GGT 05/20:7.09/8.19 Ch Hi Ne Go MS CN CB Bl Ho SeGabelli Multimedia Trust IncGlobal Funds1.000
2131.29APF 05/20:12.94/14.90 Ch Hi Ne Go MS CN CB Bl Ho SeMorgan Stanley Asia-Pacific Fund, IncAsia-Pac eqty;0-50% Japa1.033
2121.09GDV 05/20:18.38/20.94 Ch Hi Ne Go MS CN CB Bl Ho SeGabelli Dividend & Income TrustValue Funds1.001
2121.05BOE 05/20:11.73/13.36 Ch Hi Ne Go MS CN CB Bl Ho SeBlackRock Global Opportunities Equity TrustOpt Arbitrage/Opt Strat.974
2120.98MMT 05/20:5.79/6.57 Ch Hi Ne Go MS CN CB Bl Ho SeMFS Multimarket Income TrustGeneral Bond Funds.698
1141.67RNP 05/20:18.85/22.04 Ch Hi Ne Go MS CN CB Bl Ho SeCohen & Steers REIT & Preferred Income Fund, IncReal Estate Funds.963
1141.65GDF 05/20:8.13/9.48 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset Global Partners Income Fund IncHigh Yield Fds Leveraged1.053
1141.52ABE 05/20:11.61/13.45 Ch Hi Ne Go MS CN CB Bl Ho SeAberdeen Emerging Markets Smaller Company Opportunities Fund, IncEmerging Markets Funds1.121
1131.39LAQ 05/20:18.26/20.91 Ch Hi Ne Go MS CN CB Bl Ho SeAberdeen Latin America Equity Fund, IncArgentina, Brazil, Chile and Mexico.987
1131.37CEE 05/20:17.82/20.44 Ch Hi Ne Go MS CN CB Bl Ho SeCentral Europe Russia and Turkey Fund, IncCentral Europe stks;Germ.898
1121.18DSU 05/20:3.48/3.96 Ch Hi Ne Go MS CN CB Bl Ho SeBlackRock Debt Strategies Fund, IncHigh Yield Fds Leveraged.734
1121.09TEI 05/20:10.36/11.74 Ch Hi Ne Go MS CN CB Bl Ho SeTempleton Emerging Markets Income Fundforeign government high-yield bonds.992
1111.06MCN 05/20:7.52/8.49 Ch Hi Ne Go MS CN CB Bl Ho SeMadison Covered Call & Equity Strategy FundOpt Arbitrage/Opt Strat1.060
1100.73GIM 05/20:6.39/7.10 Ch Hi Ne Go MS CN CB Bl Ho SeTempleton Global Income Fundbonds, US and foreign, incl. junk.622
1100.66CIK 05/20:2.87/3.19 Ch Hi Ne Go MS CN CB Bl Ho SeCredit Suisse Asset Management Income Fund, IncHigh Yield Funds.464
1152.11UTF 05/20:19.68/23.24 Ch Hi Ne Go MS CN CB Bl Ho SeCohen & Steers Infrastructure Fund, IncUtility Funds1.262
1141.76MXE 05/20:10.85/12.60 Ch Hi Ne Go MS CN CB Bl Ho SeMexico Equity & Income Fund, IncMex: 50% cnv; 50% stks&b1.208
1131.50SPE 05/20:13.38/15.32 Ch Hi Ne Go MS CN CB Bl Ho SeSpecial Opportunities Fund, IncCore Funds1.075
1121.37EMF 05/20:10.51/11.98 Ch Hi Ne Go MS CN CB Bl Ho SeTempleton Emerging Markets FundEmerging Markets Funds1.247
1121.36IIF 05/20:25.45/29.06 Ch Hi Ne Go MS CN CB Bl Ho SeMorgan Stanley India Investment Fund, IncAt least 65% Indian stoc1.139
1111.13WIW 05/20:11.01/12.43 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset/Claymore Inflation Linked Opportunities & Income FundCorp Debt BBB Leveraged.912
1110.98MSP 05/20:11.3/12.63 Ch Hi Ne Go MS CN CB Bl Ho SeMadison Strategic Sector Premium FundOpt Arbitrage/Opt Strat.980
1162.37MGU 05/20:20.7/24.67 Ch Hi Ne Go MS CN CB Bl Ho SeMacquarie Global Infrastructure Total Return Fund IncUtility Funds1.466
1131.60EEA 05/20:7.85/8.99 Ch Hi Ne Go MS CN CB Bl Ho SeEuropean Equity Fund IncDeveloped Market Funds.960
1121.53LDF 05/20:8.54/9.75 Ch Hi Ne Go MS CN CB Bl Ho SeLatin American Discovery Fund, Inc80% Latin American eqtys1.105
1121.32IFN 05/20:22.87/25.89 Ch Hi Ne Go MS CN CB Bl Ho SeIndia Fund, IncAt least 65% Indian stoc1.100
1111.16GF 05/20:13.52/15.20 Ch Hi Ne Go MS CN CB Bl Ho SeNew Germany Fund, IncGermany equity.868
1111.10WIA 05/20:11.37/12.72 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset/Claymore Inflation Linked Securities & Income FundCorp Debt BBB Leveraged.621
1100.96MHY 05/20:4.54/5.06 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset Managed High Income Fund IncHigh Yield Funds.800
1100.90MCR 05/20:8.23/9.16 Ch Hi Ne Go MS CN CB Bl Ho SeMFS Charter Income TrustGeneral Bond Funds.622
1100.87PPT 05/20:4.71/5.23 Ch Hi Ne Go MS CN CB Bl Ho SePutnam Premier Income TrustGeneral Bond Funds.720
1141.91JDD 05/20:10.88/12.59 Ch Hi Ne Go MS CN CB Bl Ho SeNuveen Diversified Dividend & Income FundReal Estate Funds1.244
1121.48EHI 05/20:9.15/10.41 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset Global High Income Fund IncHigh Yield Fds Leveraged1.056
1111.30ASG 05/20:4/4.51 Ch Hi Ne Go MS CN CB Bl Ho SeLiberty All-Star Growth Fund, IncMulti-mgd:2/3 grth;1/3 v1.000
1111.20IGD 05/20:6.85/7.70 Ch Hi Ne Go MS CN CB Bl Ho SeVoya Global Equity Dividend & Premium Opportunity FundOpt Arbitrage/Opt Strat1.125
1100.96EAD 05/20:7.72/8.58 Ch Hi Ne Go MS CN CB Bl Ho SeWells Fargo Income Opportunities FundHigh Yield Fds Leveraged.591
19 0.89HIO 05/20:4.76/5.25 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset High Income Opportunity Fund IncHigh Yield Funds.800
1121.59GCV 05/20:4.46/5.07 Ch Hi Ne Go MS CN CB Bl Ho SeGabelli Convertible & Income Securities Fund, IncConvertible Sec Funds.999
1121.54MSF 05/20:12.65/14.35 Ch Hi Ne Go MS CN CB Bl Ho SeMorgan Stanley Emerging Markets Fund, IncEmerging market stks & c1.282
1121.64ASA 05/20:12.52/14.21 Ch Hi Ne Go MS CN CB Bl Ho SeASA Gold & Precious Metals LimitedSouth African gold stock
1111.45ETG 05/20:14.29/16.04 Ch Hi Ne Go MS CN CB Bl Ho SeEaton Vance Tax-Advantaged Global Dividend Income FundGlobal Funds1.109
1101.24ERC 05/20:12.26/13.63 Ch Hi Ne Go MS CN CB Bl Ho SeWells Fargo Multi-Sector Income FundGeneral Bond Funds.817
1101.15BLW 05/20:14.83/16.44 Ch Hi Ne Go MS CN CB Bl Ho SeBlackRock Limited Duration Income TrustHigh Yield Fds Leveraged.793
19 1.12GFY 05/20:15.48/17.08 Ch Hi Ne Go MS CN CB Bl Ho SeWestern Asset Variable Rate Strategic Fund IncGlobal Income Funds.838
1132.02NHS 05/20:10.66/12.26 Ch Hi Ne Go MS CN CB Bl Ho SeNeuberger Berman High Yield Strategies Fund IncHigh Yield Fds Leveraged.955
1121.83RQI 05/20:12/13.66 Ch Hi Ne Go MS CN CB Bl Ho SeCohen & Steers Quality Income Realty Fund, IncReal Estate Funds1.159
1111.52NUM 05/20:14.41/16.15 Ch Hi Ne Go MS CN CB Bl Ho SeNuveen Michigan Quality Income Municipal Fund, IncOther States Muni Debt.906
19 1.17ZF 05/20:12.53/13.81 Ch Hi Ne Go MS CN CB Bl Ho SeZweig Fund, IncCore Funds.917
19 1.14FTF 05/19:11.49/12.62 Ch Hi Ne Go MS CN CB Bl Ho SeFranklin Limited Duration Income TrustGeneral Bond Funds1.028
18 0.98ZTR 05/20:11.94/13.04 Ch Hi Ne Go MS CN CB Bl Ho SeZweig Total Return Fund, IncIncome & Pref Stock Fds.765
1132.23FHY 05/20:11.64/13.42 Ch Hi Ne Go MS CN CB Bl Ho SeFirst Trust Strategic High Income Fund IIHigh Yield Fds Leveraged1.343
1111.81CSQ 05/20:9.63/10.89 Ch Hi Ne Go MS CN CB Bl Ho SeCalamos Strategic Total Return FundIncome & Pref Stock Fds1.386
1111.71NXJ 05/20:14.45/16.31 Ch Hi Ne Go MS CN CB Bl Ho SeNuveen New Jersey Dividend Advantage Municipal FundNJ Muni Debt Funds.890
1111.68IRL 05/20:13.4/15.06 Ch Hi Ne Go MS CN CB Bl Ho SeNew Ireland Fund, IncIrish stocks.796
1111.67VLT 05/20:13.71/15.40 Ch Hi Ne Go MS CN CB Bl Ho SeInvesco High Income Trust IIHigh Yield Fds Leveraged.969
1121.95JQC 05/20:7.97/9.02 Ch Hi Ne Go MS CN CB Bl Ho SeNuveen Credit Strategies Income FundLoan Participation Funds1.190
1101.53JHI 05/20:15.42/17.13 Ch Hi Ne Go MS CN CB Bl Ho SeJohn Hancock Investors TrustGeneral Bond Funds.814

Charts and news about the above funds: Yahoo MSN MarketWatch

Updated: 2016/05/23 11:05

Disclaimer: we do not recommend purchase or sale of any particular funds, merely present a compilation and mathematical manipulation of publicly available data; while we try to compile correct data, we cannot guarantee data correctness and are not responsible for its use.

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