Why Low Closed-End Fund Fees Won't Make You Richer [Forbes]
Central Securities Corporation (CET)
NASDAQ:AMEX Investor Relations:
centralsecurities.com
Company Research
Source: Forbes
That makes sense. Nobody likes high costs eating into their returns. But there's more to CEF performance than just the expense ratio, and if you focus on buying the funds with the lowest fees, you might leave a lot of money on the table. Because the truth is, there's no clear relationship between fees and long-term returns. A CEF's portfolio and the skill of its managers play a far greater role in determining its success than fees alone. Breaking Down the Data: No Simple Relationship Between Closed-End Fund Fees and Returns Let's start with the data. I've collected information on total fund fees for CEFs with some of the highest and lowest 10-year compound annual growth rates (CAGRs), or in the case of newer funds, annualized returns since inception. You might expect lower fees to lead to higher returns, but the numbers say something different. List of CEF Returns Contrarian Outlook It starts out well for the low-fee funds: Central Securities Corp. (CET) , with the lowes
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CET
Sec Filings
- 8/20/24 - Form NPORT-P
- 8/14/24 - Form N-CSRS
- 8/13/24 - Form 13F-HR
- CET's page on the SEC website