INVESTMENT MANAGEMENT

INNOVATIVE, VISIONARY, DATA-DRIVEN PORTFOLIO MANAGEMENT

We are dedicated to being a leader in what we do, taking pride in our specialized approach and how we work to deliver value to our clients

CEFA Pitchbook Investor Presentation

We are dedicated to being a leader in what we do, taking pride in our specialized approach and how we work to deliver value to our clients

Experience that counts

For nearly 40 years, our team has focused on a specialized, intentional approach to managing portfolios of closed-end funds (CEFs), business development companies (BDCs), and interval funds. This experience has shaped a disciplined process that incorporates continuous monitoring, detailed analysis, and an emphasis on aligning strategies with client objectives.

Analysis at our core

Analysis is central to our process. Through what we call our CEF Advisors’ Trifecta Analysis, we combine extensive fund data with peer comparisons to evaluate multiple factors, including discount levels, yield metrics, and NAV/advisor considerations. By examining sector-specific data and a broad set of indicators, we aim to build a deeper understanding of the funds we select. This rigorous research process reflects our commitment to informed decision-making.

Going further with purpose

CEF Advisors’ goal is to provide clients with the information, options, and insight necessary to make well- informed investment choices. We blend market and economic research with data-driven analysis to create strategies designed to meet a wide range of needs. Our numerous tactically managed and customizable portfolio styles offer diverse approaches to help clients pursue their individual investment objectives.

CEF Advisors’ Trifecta Fund Analysis

Consider Entry-Point Discount Risk

Compare absolute discount/premium to 90-day average
Look for negative 90-day relative discount and Z-stat < -1
Cross-check against peer-group discount ranks to spot mis-pricing

Consider Dividend Security and Taxation Risk

Calculate leverage-adjusted NAV yield and analyze earnings coverage
Forecast the fund’s distribution mix— ordinary income, qualified dividend income (QDI), tax-exempt muni interest, short- vs. long-term capital gains, and return of capital— to the right accoun
Review & Flag Return of Capital; exclude funds with persistent destructive “return of principal" without a sizable discount.

Consider Net Asset Value (NAV) Risk

Track rolling 1/3/5-year NAV total return vs. peers & index
Confirm manager or sector alpha potential after fees; expense ratio = secondary filter
NAV Risk – track beta for equity-market sensitivity, duration for rate exposure, and historical NAV correlations vs. peer funds & core benchmarks to confirm the position adds diversification rather than duplicating existing portfolio holdings.

Endless Possibilities. Customized for You.

Explore Portfolios

See How Your Investments Stack Up.

Compare Index Performance

DISCLOSURES:

CEFData.com provides data and information on closed-end funds (CEFs), business development companies (BDCs), interval funds, tender offer funds, exchange-traded funds (ETFs), and London-listed closed-end funds. CEFData.com is an information service provided by CEF Advisors, Inc., a registered investment advisor. The data and materials presented are for informational purposes only, are not intended to be relied upon as investment advice or recommendations, and do not constitute a solicitation to buy or sell any security. This information should not be considered specific legal, investment, or tax advice. Investors should consult each fund’s sponsor for detailed, fund-specific risk disclosures and/or seek the guidance of a qualified financial advisor before making investment decisions.

NOTES: Distribution type is sourced from CEFData.com. For specific information about a fund's distribution sources, please visit the fund sponsor's website.

The following applies to CEFs, BDCs, interval funds, tender offer funds, ETFs, and London-listed CEFs: Fund shares are not guaranteed or endorsed by any bank or insured depository institution and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). These securities involve investment risks, including the possible loss of principal. There can be no assurance that a fund’s investment objectives will be achieved. Many closed-end funds and similar exchange traded vehicles frequently trade at a discount or premium to their net asset value (NAV). NAV returns are net of fund expenses and assume reinvestment of distributions.

Performance information, if presented, is for illustrative purposes only. Actual client returns may differ based on individual account holdings, timing, fees, and other factors. Past performance is not necessarily indicative of future results. All investments involve risk, including the risk of loss.Data is obtained from sources believed to be reliable; however, accuracy, completeness, and timeliness cannot be guaranteed. Information may change without notice, and CEF Advisors is under no obligation to update such information. Links to third-party websites are provided for convenience only, and CEF Advisors does not control or guarantee the accuracy or relevance of information on third-party sites. This material is presented for informational purposes only. Under no circumstances should it be considered an offer to sell, or a solicitation to buy, any investment product.

© CEF Advisors, Inc. and CEFData.com 2025. All rights reserved. Any copying, republication, or redistribution of CEF Advisors or CEFData.com content, including by caching, framing, or similar means, is expressly prohibited without prior written consent. CEF Advisors shall not be liable for any errors or delays in the content or for any actions taken in reliance thereon.

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7204 Glen Forest Drive
Suite 105
Richmond VA 23226