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Closed-end fund IRL

CrashCrash
edited February 2021 in Fund Discussions
I owned IRL back in the 1990s. I think what's here is a different iteration since then. And there's been lots of water that's passed under the bridge in the years since.

Policy:
"The Fund pays quarterly distributions at an annual rate, set once a year, that is a percentage of the Fund's net asset value ("NAV") on December 12. The Board has determined that the annual rate will be 8% per annum payable in quarterly installments. " (OOPS! No Divs. in 2019 at all?)

Currently trading at a -20% discount to NAV.
https://www.morningstar.com/cefs/xnys/irl/quote

Comments

  • LewisBraham
    edited February 2021
    You have to like building materials/construction company CRH as it represents 22% of this fund's portfolio. Could do well, but there is a lot riding on that one stock.
  • BenWPBenWP
    Your post reminds me, @Crash, of the old days when CEFs were the only game in town for single-country bets. Prodigy had a board populated by CEF nuts, one of whom published a weekly table revealing discounts and premia, as well as performance figures, for a host of funds. The guy must have spent the entire week computing and typing.
  • CrashCrash
    Thanks for checking "under the hood," @LewisBraham.... And that company is right now trading at an almost +30% PREMIUM!
  • CrashCrash
    @BenWP. +1.
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