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INSIGHTS AND EDUCATION

Learn about closed-end funds

Understand what are closed-end funds, how they may add value to your clients’ portfolios, and current views on closed-end fund market trends.

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Closed-end funds 101
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Featured insights for advisors

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What’s new with closed-end funds?

Explore our experts’ latest insights on the closed-end fund market. We share our market commentary, insights, and trends to help guide you with closed-end funds in your clients’ portfolios.

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Tis the season to consider closed-end fund discounts

Headwinds may subside for closed-end funds and discounts, which are at their widest levels since the Global Financial Crisis¹. Learn how closed-end funds may offer an entry point for some investors.

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Five reasons to use closed-end funds in your portfolio

Close—end funds play an important role in a diversified portfolio. Learn how CEFs have evolved to accommodate the objectives of investors.

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Closed-end funds vs. Mutual funds Closed-end funds vs. Mutual funds
5 Things to consider with CEFs 5 Things to consider with CEFs

Private Investments

Within BlackRock 2.0 Closed-end funds
Democratizing access and helping to solve client challenges. BlackRock Closed-end funds (CEFs) are breaking down barriers to private markets. Read about the BlackRock advantage in private markets.

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Closed-end funds 101

Understand how closed-end funds can potentially add value to your clients’ portfolios, and facts to consider for client conversations.

Understanding CEF premiums and discounts

Evaluating cyclical valuations in premiums and discount-driven closed-end funds is crucial to navigating client and market sentiment. Learn about the basics in the trading of CEF shares.

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Understanding managed distribution plans

Managed distribution plans offer the potential for higher distribution rates throughout a market cycle. Read how they also expand investment options for income-focused investors.

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Understanding Floating Payments MDP Understanding Floating Payments MDP
Leverage in closed-end funds Leverage in closed-end funds
The importance of CEF total returns The importance of CEF total returns
CEF ‘at the market’ offerings CEF ‘at the market’ offerings
A guide for closed-end funds A guide for closed-end funds

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You are leaving BlackRock’s website and entering a third-party website that is not controlled, maintained, or monitored by BlackRock. BlackRock is not responsible for the content or availability of the third-party website. By leaving BlackRock’s website, you will be subject to the third-party website’s terms, policies and/or notices, including those related to privacy and security, as applicable. Please review such policies and notices on the third-party website.

¹ Source: Morningstar as of 10/31/23. Based on month-end premium/discount median for entire listed CEF universe since 2009 (end of Global Financial Crisis).

Performance data quoted represents past performance of common shares and does not guarantee future results. Performance is net of fees. Investment return and principal value of an investment will fluctuate so that an investor’s shares may be worth more or less than the original cost. The fund’s market price and net asset value will fluctuate with market conditions. All return data assumes reinvestment of all distributions. Current performance may be lower or higher than the performance data quoted.

This website is for informational purposes only. It is not intended to be relied upon as a forecast, research or investment or tax advice, and are not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy.

Investment return, price, yields and NAV will fluctuate with changes in market conditions. At the time of sale, your shares may have a market price that is above or below net asset value, and may be worth more or less than your original investment. There is no assurance that a fund will meet its investment objective.

The closing price and net asset value (NAV) of a fund’s shares will fluctuate with market conditions. Closed-end funds may trade at a premium to NAV but often trade at a discount. CEF shares are bought and sold at “market price” determined by competitive bidding on the stock exchange. Net asset value (NAV) is the value of all fund assets, less liabilities divided by the number of shares outstanding.

Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses which may be obtained visiting the iShares ETF and BlackRock Mutual Fund prospectus pages. Read the prospectus carefully before investing.

Prepared by BlackRock Investments, LLC, member FINRA.

Disclosures related to prime and municipal funds: You could lose money by investing in the Fund. Because the share price of the Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The Fund may impose a fee upon sale of your shares. The Fund generally must impose a fee when net sales of Fund shares exceed certain levels. An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.

Disclosures related to Government MMFs: You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.

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