Best-Rated Closed-End Funds in April

The best-rated closed-end funds for the month of April focused on equity income, foreign/international funds and municipals, both national and state.

The equity income and municipal funds show that the U.S. domestic landscape in terms of closed-end funds is governed by a search for yield in an ever-more difficult environment.

The Federal Reserve's reduction of interest rates this year led to financial asset prices in general rising. That's similar to the period in 2001-2002 when rates were slashed and asset prices, including residential property, soared. As asset prices rise, yields fall. The assets that deliver yield in the current environment include commercial real estate (REIT) funds, municipals and dividend paying equities.

Although municipals are but one part of a broad U.S. debt market, their revenue stream generated by the taxing power of government and their tax-advantage status make them attractive in the generally risk-averse current environment. ...