Worst Performing Closed End Funds in Week 19, 2012

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The following post will look into the worst performer closed end funds in week 19. Some of them are RENN Global Entrepreneurs fund, BlackRock EcoSolutions fund, Greater China Fund, etc. More review can be found below.

Worst Performing CEFs

Closed-end funds are traded like stocks and exchange trade funds (ETFs). There are top performer and worst performer funds. The following are the worst performer CEFs in week 19, 2012. Most of these funds are stock CEFs. Among the worst performer classes are sector equity, international stock, and emerging market stocks.

The Worst Performing Closed End Funds in Week 19, 2012 are:
  1. RENN Global Entrepreneurs (RCG)
  2. GAMCO Global Gold Natural Resources & Income (GGN)
  3. BlackRock EcoSolutions (BQR)
  4. Greater China Fund (GCH)
  5. Morgan Stanley China A (CAF)
  6. Templeton Russia & East Europe (TRF)
  7. Central Fund of Canada (CEF)
  8. Aberdeen Chile (CH)
  9. ASA Gold & Precious Metal Ltd (ASA)
  10. Central GoldTrust (GTU)
Note: Week 19 = May 7th, 2012 – May 13th, 2012

1. RENN Global Entrepreneurs (Ticker: RCG)

This RENN Global Entrepreneurs fund invests primarily in emerging growth company stocks, convertible preferred stock, and convertible securities. It is trading at 31.86% discount to its net asset value (NAV). The total net assets are $12 million. Its total expense ratio is 4.39% per year.

This worst performer closed end fund is managed by Russell Cleveland. The year to date return is 1.65%. It has returned -11.48% over the past year, -14.88% over the past 3 year, and -12.02% over the past decade. For week 19, it has a return of -14.02%.

Top 10 High Yield Closed End Funds 2012

The fund assets are allocated as follow: unlisted equity (73.45%), convertibles (26.26%), and listed equity (1.66%). The top 10 holdings are Integrated Security Systems Inc., Acadia Healthcare Company Inc., Access Plans Inc., Plures Technologies, Inc., Bovie Medical Corporation, Anchorfree, Inc. Series A Convertible Pr, Points International, Cogo Group Inc., Murdoch Security & Investigations Inc., CaminoSoft Corporation, and Dynamic Green Energy Limited.

2. GAMCO Global Gold Natural Resources & Income (GGN)

As part of Gabelli Fund, this GAMCO Global Gold Natural Resources & Income fund objective is to provide high current income and capital appreciation. This closed end fund uses its assets to buy equity securities issued by fold and natural resources industries. It may use option strategy. It has $1.1 billion of total net assets. It has 1.36% expense ratio. The distribution rate is 11.47% per year. It is distributed monthly.

This worst performer closed end fund has an annual holding turnover rate of 66%. The 5 year annualized return is -2.19%. Morningstar has ranked this CEF with 2 stars rating. The top 4 countries in its holdings are USA (26.27%), Canada (19.73%), United Kingdom (6.68%), and Australia (6.05%).

3. BlackRock EcoSolutions (BQR)

This BlackRock EcoSolutions Investment Trust is ranked with 1 star. The total leverage ratio is 0%. It has 116.2 million of market value. This sector equity fund invests in new energy, water resources, and agriculture.

more: Top Performing Closed End Funds in Week 19

As of February 2012, the top 6 stocks are Monsanto Co, Cia Saneamento Minas Gerais, BRASILAGRO - CIA Bras de Prop Agricolas, Agrium Inc, Syngenta AG, and Manila Water Company.

Disclosure: No Position

Other Worst Performers Information

NoFund DescriptionTickerSector1 Week Return %Lipper RankPremium / DiscountExpense RatioYield
1RENN Glbl Entrepreneurs (RCG)RCGGlobal-14.02%97-30.78%5.25%0.00%
2GAMCO Gl Gld NR & Inc (GGN)GGNSector Equity-5.81%989.69%1.27%10.36%
3BlackRock EcoSolutions (BQR)BQRSector Equity-5.48%960.33%1.40%9.54%
4Greater China Fund (GCH)GCHPacific Ex Japan-5.18%93-8.94%1.66%0.25%
5Morg Stan China A (CAF)CAHPacific Ex Japan-4.70%86-9.85%2.13%11.46%
6Templeton Russia & E Eur (TRF)TRFEmerging Markets-4.47%96-9.48%1.79%0.00%
7Central Fund of Canada (CEF)CEFSector Equity-4.43%942.21%0.30%0.05%
8Aberdeen Chile (CH)CHEmerging Markets-4.41%911.31%1.86%10.62%
9ASA Gold & Prec Met Ltd (ASA)ASASector Equity-4.31%92-5.48%0.60%1.47%
10Central GoldTrust (GTU)GTUSector Equity-4.16%900.65%0.35%0.00%
11Minnesota Muni Income (MXA)MXAOther States Muni-4.11%988.55%1.46%4.97%
12Asia Pacific Fund (APB)APBPacific Ex Japan-3.93%79-9.25%2.01%0.00%
13Swiss Helvetia Fund (SWZ)SWZDeveloped Market-3.86%86-12.61%1.32%2.67%
14Latin American Discovery (LDF)LDFEmerging Markets-3.85%86-10.37%1.39%5.69%

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