There are many types of closed-ended funds.
The Wall Street Journal lists closed-ended funds under 14 different headings.
Most closed-ended funds are in fixed income categories like bonds and municipal bonds.
For value investors, the so-called "specialized equity" and "general equity" funds offer the most interesting opportunities.
Country funds, under the category "world-equity funds," also can be good vehicles to introduce international diversification into a portfolio.
Within closed-ended equity funds, value-oriented funds invest in defined categories like real estate or natural resources.
A few strategy funds, like the Madison Claymore Covered Call Fund, employ covered call option writing strategies to extract income from equity positions, and pay more than 10% in annual returns. These may also be worth a look.
Ref: Value Investing for Dummies
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