In some cases, they then tried to pressure the managers of closed-end funds to make that happen.
"We need to separate out the market impact and issues related to closed-end funds," he said.
It's very possible you could do just as good or better with a closed-end fund.
But in a closed-end fund, the number of shares are fixed.
And the answer will be watched closely by managers of other closed-end funds.
Leverage is the tool of choice today among closed-end funds.
The average loss for closed-end funds that did not use leverage was much less - 13.6 percent - during the same period.
Closed-end funds may not always be able to profit from this leverage.
Q. What's a closed-end fund and is this a smart time to buy one?
But despite their strong showing in recent years, closed-end funds seem exotic to some investors.