Closed-end funds have become popular in the retail investment community, offering access to a wide range of asset classes and investment strategies wrapped in packages that have the potential to generate high levels of income. Cohen & Steers is one of the largest domestic closed-end fund investors with over $9.2 billion(1) of our total assets in closed-end funds. Whether you are an institutional or individual investor seeking general information on the closed-end fund market or details regarding closed-end fund investments in any of our specialty asset classes, Cohen & Steers Closed-End Fund Knowledge Center has information and potential solutions for you to consider.
- Learn the basics about closed-end funds
- Access information about Cohen & Steers closed-end fund offerings
- For insights on an institutional manager’s perspective, read our investment commentary
- Go to the Tax Center for information pertaining to the tax treatment of closed-end funds
- For additional information on closed-end funds visit the following educational sites:
(1) Closed-end fund assets under management as of March 31, 2017
Risks of Investing in Closed-End Funds
Shares of many closed-end funds frequently trade at a discount from their net asset value. The funds are subject to stock market risk, which is the risk that stock prices overall will decline over short or long periods, adversely affecting the value of an investment in a fund.
The use of leverage by closed-end funds is speculative and there are special risks and costs associated with leverage. The use of leverage increases the volatility of a fund's net asset value in both up and down markets. A closed-end fund may seek to enhance its dividend yield through leverage but there is no guarantee that a leverage strategy will be successful.