As always, it is important to consider the objectives, risks, charges and expenses of any fund before investing. Investing in closed-end funds involves risks:
- Principal loss is possible
- There is no guarantee a fund’s investment objective will be achieved
- Closed-end fund shares may frequently trade at a discount or premium to their net asset value (NAV)
- Closed-end fund historical distribution sources include net investment income, realized gains, and return of capital.
- Leverage increases return volatility and magnifies a fund’s potential return whether that return is positive or negative.
- There is no guarantee a fund’s leveraging strategy will be successful.
- All investments carry a certain degree of risk and there is no assurance that an investment will provide positive performance over any period of time.