1989/1990 ENCYCLOPEDIA OF CLOSED END FUNDS
Thomas J. Herzfeld Advisors, Inc.
P.O. Box 161465
Miami, FL 33116
Author: Thomas J. Herzfeld
If you are a mutual fund trader with substantial assets to commit to trading, you have to decide which
fund families within which to trade. The most popular fund group for heavy-duty traders is the Fidelity
Select Group. However, this group has some fairly heavy-duty costs associated with it. For instance, if
you trade in the Select Group, you could pay a sales charge of 2% to get into the group, and another 1%
to get out. If you are investing large sums, I believe you should consider trading closed end funds at
heavily discounted commissions.
With the publication of the book, 1989/1990 Encyclopedia of Closed End Funds (which we are told will
be revised annually), getting information on closed end funds just got a whole lot easier. Because closed
end fund shares are bought on the open market and not from the fund itself, there is no prospectus. The
only sources of information put out by the fund are the regular quarterly and annual reports typical of
publicly traded corporations.