The closed-end piece has been the exciting part lately. "As the debt-ceiling fears unfolded in recent weeks, discounts in the closed-end space kicked out," says RiverNorth's Galley, who runs the closed-end portfolio and oversees the combined fund. The discounts grew even bigger after Aug. 8, when markets cracked, and the Fed pledged to keep interest rates at rock-bottom levels for at least two years. Some closed-ends were trading more than 10% below their net asset values. Immediately, Galley started shifting some money from the Gundlach funds to soak up the deep discounts in closed-ends. His closed-end holdings went from 18% of the $300 million fund to 27%.
The no-load RiverNorth DoubleLine fund, launched earlier this year, has notched annualized returns of 9% and looks poised to keep thriving in the market upheaval. The fund caps its fees at a reasonable 1.2%.http://online.barrons.com/article/SB50001424052702303822904576516293049010796.html
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