Don't Close The Book On Closed End Funds

When the stock market is good, closed-end funds are very, very good, but when it is bad, they are awful. Such was the morass that faced investors in closed-end funds throughout 1990. BUSINESS WEEK's annual closed-end fund Scoreboard, which follows the 40 largest closed-end equity funds, charts the wreckage. Of the 36 funds that had full-year performance records, just 14 turned in a better showing than the 3.1% decline in the Standard & Poor's 500-stock index.

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