Top Performer Closed End Funds in Week 19, 2012

Some of the top performer closed end funds in week 19, 2012 are Firsthand Technology Value, Morgan Stanley Frontier Emerging Markets, Nuveen CA Select Tax-Free, etc. Most of the top performers are bond closed end funds. More review can be found below.

Top Performer CEFs

In week 19, the top performer closed ends mainly consists of bond closed end funds. If we look in further, I could see municipal bond closed end funds are among the top choice for investor. The other top performer categories include emerging markets stock, sector equity, corporate bond, high yield municipal, etc.

Top Performer Closed End Funds in Week 19, 2012 are:
  1. Firsthand Technology Value (SVVC)
  2. Morgan Stanley Frontier Emerging Markets (FFD)
  3. BlackRock Limited Duration Income (BLW)
  4. Franklin Limited Duration Income (FTF)
  5. Western Asset Municipal High Income (MHF)
  6. Eaton Vance OH Municipal Bond (EIO)
  7. Managed Duration Investment Grade Municipal (MZF)
  8. BlackRock New Jersey Investment Quality (RNJ)
  9. Nuveen CA Select Tax-Free (NXC)
  10. Nuveen Municipal Value 2 (NUW)
1. Firsthand Technology Value (Ticker: SVVC)

The investment aim of Firsthand Technology Value fund is to provide long term capital growth. It provides venture capital to private technology and cleantech companies. This sector equity closed end fund invests in companies with game-changing technology, barriers to entry, experience management team, etc. The fund managers are Kevin Landis, Nick Schwartzman, Phil Mosakowski, and Kelvin Leung.

As of May 2012, the fund portfolio consists of Facebook, Gilt Groupe, Innovion, Intevac, Movius, Silicon Genesis (SiGen), Skyline Solar, SolarCity, SoloPower, Twitter, UCT Coatings, and Yelp. The fund is trading at 32.90% premium to its NAV.

2. Morgan Stanley Frontier Emerging Markets (FFD)

This Morgan Stanley Frontier Emerging Markets fund uses its assets to purchase companies stocks of emerging market countries not included in MSCI emerging Markets Index. It has total net assets of $ 87 million. The annual expense ratio is 2.04%.

YTD Top Performer CEFs May 2012

This emerging markets stock CEF has returned -10.02% over the past year, and 10.96% over the past 3 year. The year to date return is 18.77%. As of January 2012, the top 5 stocks are Burgan Bank, Qatar National Bank, Aramex PJSC, Deutsche Bank AG London, and Industries of Qatar. The top 3 sectors include commercial banks (26.48%), wireless telecommunication (10.80%), and metal & mining (7.72%).

3. BlackRock Limited Duration Income (BLW)

As part of taxable bond fund, the BlackRock Limited Duration Income fund is ranked with 3 stars and neutral rating. This BlackRock fund focuses its assets in intermediate duration bond and senior loans. This fund also has an expense ratio of 1.01% per year. The current total net assets are $877 million.

This top performer high yield closed end fund has a year to date return of 14.24%. The annual portfolio turnover rate is 106%. It also has a dividend yield of 7.1%. The fund has an average coupon of 6.86%.

Disclosure: No Position

Fund Information and Performance

NoFund DescriptionTickerSector1 Week Return %Lipper RankPremium / DiscountEffective LeverageExpense RatioYield
1Firsthand Technology ValSVVCSector Equity14.52%332.90%-2.76%0.00%
2Morg Stan Frontier Em MkFFDEmerging Markets6.90%5-5.70%-2.03%1.85%
3BlackRock Ltd Dur IncBLWHigh Curr Yld Lvgd4.29%34.20%23.01%1.00%7.36%
4Franklin Ltd Dur IncFTFCorp Debt BBB Rtd3.81%43.81%31.80%1.14%7.01%
5Western Asset Mun Hi IncMHFHigh Yield Muni3.69%74.58%-0.68%5.19%
6Eaton Vance OH Muni BdEIOOther States Muni3.64%37.87%37.50%1.44%5.40%
7Mgd Dur Inv Grd MuniMZFGen & Ins Leveraged3.30%23.48%42.60%1.46%6.25%
8BlackRock NJ Inv QualRNJNJ Municipal Debt3.17%7-0.86%36.27%1.53%5.80%
9Nuveen CA Sel Tx-FreeNXCCA Municipal Debt2.98%40.26%1.02%0.38%4.60%
10Nuveen Muni Value 2NUWGen & Ins Unlevgd2.98%120.92%10.96%0.71%5.13%
11BlackRock Bld America BdBBNGeneral Bond2.98%6-2.19%26.02%1.06%6.81%
12MFS Inv Gr Muni TrCXHGen & Ins Leveraged2.96%34.36%31.42%1.30%6.26%


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