TheStreet.com Ratings
Sweet Virginia: BlackRock Fund's a Winner
Sam Patel
08/20/08 - 05:37 PM EDT
From the list of top-closed end funds, the standout is the BlackRock Virginia Muni Bond Trust (BHV Quote), which as the name suggests, invests in investment-grade Virginia municipal bonds.
Municipal bonds are exempt from regular federal and Virginia income tax.
The one-month return of 4.03% and the three-month return of 11.12% rank well above most other closed-end offerings on our list.
The closed-end universe shows that the bond market in the municipal sector still affords some opportunity, especially for wealthy investors who are more concerned with preserving their wealth and minimizing taxes than chasing growth of assets.
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