An Open and Shut Case

Income-oriented investors can expect good performance from closed-end funds, many of which took a drubbing in the summer markdown.

Closed-end funds are like mutual funds, but they trade on the stock exchange. If you want to buy or sell them, you do so like any other stock.

They have a limited audience of buyers because, unlike mutual funds, they lack management companies actively marketing new shares.

Many closed-end funds have good yields now and their prices are at a wide discount to the net asset value of their holdings.

Good Web sites with information on closed-end funds include www.quantumonline.com and www.etfconnect.com.

* * * * *