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Five Fabulous Closed-End Funds to Own Right Now

Investors seeking to profit from activism in the closed-end fund arena should jump into the Nuveen Global Equity Income Fund, said Rajeev Das, principal at Bulldog Investors.

Investors seeking to profit from activism in the closed-end fund arena should jump into the Nuveen Global Equity Income Fund (JGV), said Rajeev Das, principal at Bulldog Investors. The JGV sports a discount to its net asset value (NAV) of 12.6 percent, which is slightly above its three-year average discount of 11.5 percent. Das said he started buying the fund last summer when the discount widened past 15 percent and Bulldog now owns over 8 percent of the shares. Das said he alerted the fund’s managers that Bulldog intends to run a slate of directors at the next annual meeting. Bulldog also asked them to provide opportunities for shareholders to exit the fund at net asset value (NAV). 'If we are successful we can see that discount a lot narrower,' said Das. 'The annual meeting is scheduled for April 2016 so you are really talking about holding this fund for another two to three months before you could see some real action happening on the discount.'

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