Top Performer Closed End Funds of Nov 2011 for Week 44

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The following is the top performer CEFs (Closed End Funds) for week 44 of 2011. The top performing funds include Eaton Vance Ohio Municipal Bond (EIO), Equus Total Return (EQS), Invesco Insured Municipal Bond (IMC), ClearBridge Energy MLP Opportunity (EMO), etc.

The 12 Top Performer Closed End Funds CEFs 2011 (Week 44) are:
Weekly Top Performer CEFs 2011
  1. Eaton Vance Ohio Municipal Bond (EIO)
  2. Equus Total Return (EQS)
  3. Invesco Insured Municipal Bond (IMC)
  4. ClearBridge Energy MLP Opportunity (EMO)
  5. Western Asset Global Partners Income (GDF)
  6. Guggenheim Build America Bond Managed Duration (GBAB)
  7. Nuveen CA Select Quality Municipal (NVC)
  8. BlackRock Municpial Bond Investment (BIE)
  9. RENN Global Entrepreneurs (RCG)
  10. PCM Fund (PCM)
  11. Dreyfus Strategy Muni Bond (DSM)
  12. Invesco CA Quality Municipal (IQC)
Note: Week 44 = October 31, 2011 till November 6, 2011

1. Eaton Vance Ohio Municipal Bond (EIO)

The investment objective of this Eaton Vance OH Muni Bond fund is to seek income exempt from federal and Ohio income tax. This Eaton Vance muni bond fund invests most of assets in investment grade municipal securities. This muni bond fund is considered as a non-diversified bond fund.

Since 2005, this fund’s manager is William H Ahern. It also has a total net asset of $47 Million. Its effective leverage is 36.94%. The total expense ratio is 2.81%. This fund also has a dividend yield of 5.57% (after tax). This dividend is paid monthly. The fund has returned 11.25% over the past 1 year, 17.50% over the past 3 year, and 4.83 over the past 5 year.

The fund’s average coupon is 4.23%. The average duration is 13.94 years, and the average maturity is 20.53 years. It currently has 55 bonds in its holdings.

2. Equus Total Return (EQS)

This Equus Total Return (EQS) fund’s objective is to provide current income and long term capital gains. This fund invests most of its assets in the debt and equity securities of small capitalization companies. This US stock CEF is managed by a team of advisers. It also has a structural leverage of 31.61%. It also has a total expense ratio of 8.26% per year. Currently, the dividend yield is 0%. The fund has returned -2.89% over the past 1 year, and -18.65% over the past 5 year.

The past 3 years returns of this EQS fund are:
  • Year 2010: -21.87%
  • Year 2009: -23.12%
  • Year 2008: -26.23%
The top 5 assets allocation is 52.34% in Cash Alternatives, 27.86% in general debt, 10.39% in equity, 9.06% in corporate bond, and 0.18% in derivatives.

3. ClearBridge Energy MLP Opportunity (EMO)

This ClearBridge Energy MLP Opportunity fund’s objective is to achieve a high level of total return with an emphasis on cash distributions. This Legg Mason Partners Fund Advisors fund invests most of assets in Master Limited Partnerships issued in the energy sector. This fund is managed by Michael Clarfeld, Chris Eades, Richard Freeman, and Peter Vanderlee.

This Equity Sector fund also has a distribution rate of 6.98%. This dividend of this EMO fund is paid quarterly. The fund’s total net assets are $519 Million. The fund NAV ticker is XEMOX.

4. Western Asset Global Partners Income (GDF)

As part of taxable bond CEF, the investment objective of Western Asset Global Partners Income fund is to provide high current income by investing in investment grade debt securities or bonds. As part of Legg Mason CEFs, this fund also has an effective leverage of 25.35%. The expense ratio is 1.91%.

This GDF fund also pays dividend 9.25% per year. The dividend is paid monthly. Morningstar has rated this fund with 4 stars rating. The fund has returned 1.79% over the past 1 year, and 35.08% over the past 3 year.
As of September 2011, the top 5 sectors are High Yield Corporate bond, Government bond, Net Current Assets, General Equity, Collateralized Loan, and Convertible or Preferred.

5. Guggenheim Build America Bond Managed Duration (GBAB)

This Guggenheim Build America Bond Managed Duration fund seeks high current income with capital appreciation. This Guggenheim closed end fund invests mainly in a portfolio of taxable municipal securities known as Build America Bonds. The fund’s managers of this taxable bond fund are B. Scott Minerd, James E. Pass, and Anne Bookwalter Walsh.

The fund also has a dividend yield of 7.68%. This dividend is paid monthly. The annual expense ratio is 0.64%. The total net assets are $502 Million. The fund has returned 6.86% over the past 1 year. As of September 2011, the fund’s top 8 bond sectors are school, university, transportation, water & sewer, power, Special District, Hospital, and State bonds.

Disclosure: No Position

Other Top Performer CEFs article:
Fund Performance and information:

NoFund Description (Ticker)Fund Category1 week ReturnLipper RankPremium / DiscountExpense ratioYield
1Eaton Vance OH Muni Bd (EIO)Other States Muni11.64%318.10%6.61%5.92%
2Equus Total Return (EQS)Core Funds5.73%4-35.97%0.00%0.00%
3Invesco Ins Muni Bd (IMC)General Muni Levgd3.95%27.34%5.95%5.41%
4ClearBridge Engy MLP Opp (EMO)Sector Equity3.80%3-1.14%0.00%1.81%
5Western Asset Gl Prt Inc (GDF)High Curr Yld Lvgd3.67%38.74%9.10%9.36%
6Guggenheim Bld Am Bd M D (GBAB)General Bond3.56%7-7.29%6.00%5.93%
7Nuveen CA Sel Qual Muni (NVC)CA Municipal Debt3.53%42.60%7.18%6.76%
8BlackRock Muni Bd Inv (BIE)General Muni Levgd3.10%3-0.47%6.92%6.60%
9RENN Glbl Entrepreneurs (RCG)Growth Funds3.09%17-28.02%0.00%0.00%
10PCM Fund (PCM)US Mortgage2.92%911.78%11.91%12.30%
11Dreyfus Strat Muni Bond (DSM)General Muni Levgd2.86%41.72%5.11%6.94%
12Invesco CA Qual Muni (IQC)CA Municipal Debt2.83%8-5.22%6.44%6.21%
13BlackRock Muni Inc Qly (BYM)General Muni Levgd2.76%50.97%6.85%6.50%
14Nuveen Bld Amer Bd Oppty (NBD)General Bond2.75%13-4.69%0.00%6.69%
15Cornerstone Strat Value (CLM)Core Funds2.71%849.84%0.77%16.79%
16BlackRock MuniYld Ql (MQY)General Muni Levgd2.69%7-0.93%6.97%6.36%

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