Closed-End Fund Advisors (CEFA)

30th Anniversary
Closed-End Fund Advisors ("CEFA") is a fee-based Registered Investment Advisory firm founded in 1989. Closed-End Fund Advisors has its corporate headquarters in Richmond, Virginia.

CEFA's primary business is discretionary asset management. As a global manager of managers, we build portfolios for individual and institutional clients, through either direct work with clients or through financial advisors and planners. To learn more about our firm, download our firm's profile presentation.

SEC Form CRS: Relationship Summary
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CEFAdvisors is proud to be a Founding Member of The Active Investment Company Alliance.


Free CEF/BDC Fund Profile

CEFA's global investing utilizes a value approach of reasonable risk-taking, tempered by careful analysis of all the underlying factors before investing in potentially more than 40 markets worldwide.

CEF Advisors' Model Portfolio Offerings

Click to download CEFA's Models Overview

CEFA currently manages 16 investment portfolio composites styles:

Investor Presentation

  1. International Opportunities
  2. Diversified Equity
  3. Diversified Growth
  4. Hybrid (High) Income
  5. Discount Opportunity
  6. Alternative Income
  7. Foundation/Balanced
  8. Taxable Bond and BDC
  9. Dividend Confidence Model
  10. Diversified Low Beta
  11. Low Correlation
  12. Diversified Tax-Sensitive Income
  13. Business Development Company Select
  14. Municipal Bond Select
  15. CEFA Select "Six Pack" Income
  16. CEFA Non-Profit Foundation Diversified Income

To learn more about these models' investment strategies, visit our investment portfolio models page or contact us to request information about our managed accounts.

CEF Advisors' 30+ CEF/BDC Indexes: We recently launched 30+ indexes cover the entire closed-end fund (CEF) and business development company (BDC) universe. The indexes cover both bond and equity sector indexes as well as diversified portfolio objective indexes. The indexes are priced daily from our internally collected CEFData.com research system and database launched in 2012. Data will be available on the indexes for additional benchmarking purposes including weighted discount, yield, leverage, duration, beta and other metrics for the underlying constituent funds. The indexes will be rebalanced quarterly. The indexes were developed to help us monitor our client portfolios as well as help our research/data clients and peers better benchmark themselves.

The firm's index project can be monitored via: www.cefdata.com/index. We offer a performance table and a data table webpage summarizing each index. Clicking on each indexes' name opens a detailed page containing the following information: 1. Index Methodology, 2. Market Price and Net Asset Value Performance, 3. Discounts, 4. Data Characteristics, 5. Holdings' Asset Allocation, 6. Constituent Funds, and 7. Daily index market price and net asset value pricing.

Data Tables for CEF Advisors' 30+ Indexes:
www.cefdata.com/index

Performance Tables for CEF Advisors' 30+ Indexes:
www.cefdata.com/index/performance

Diversified Portfolio Indexes
1. 15 Major Sectors Index 7. Taxable Bond & BDC Index
2. High Income Index 8. Discount CEF/BDC Index
3. Equity Income Index 9. Premium CEF/BDC Index
4. 60/40 Balanced (w/BDCs) Index 10. All Sector Equity CEF Index
5. Tax-Advantaged Equity Dividend Index 11. Alternative Income Index
6. Tax-Sensitive Income Index
Equity Sector Indexes
1. International Equity Index 6. Utilities / Infrastructure Index
2. US Equity Index 7. Master Limited Partnership (MLP) Index
3. Global Equity Index 8. Preferred Equity Index
4. Covered Call / Option Funds Index 9. Hybrid / Balanced Fund Index
5. Global Real Estate, REIT & Real Asset Index
Taxable Bond Sector Indexes Tax-Free Bond Sector Indexes
1. Debt-Focused Business Development Companies (BDC) Index 1. National Municipal Bond Index
2. BDC Baby Bond/Leverage Index 2. High Yield Municipal Index
3. High Yield Bond Index 3. Term Municipal Fund Index
4. Senior Loan Index 4. California Municipal Index
5. Convertible Bond Index 5. New York Municipal Index
6. Investment Grade Bond Index 6. State Municipal Index (Non NY/CA)
7. Multisector Bond Index
8. US Bond Index
9. International Bond Index

CEFA's Closed-End Fund Universe provides weekly data on the complete closed-end fund and business development company universe. A sample copy is available for review as well as a 14-day, no-risk free trial.

CEFA's Free BDC Universe Data Page: providing the first central location that we know of, for key BDC data on all US listed public business development companies (BDCs). The data is updated weekly and we will be adding BDC educational resources to help educate investors on the sector and investment structure.

Please contact us for more information:

Direct: 804-288-2482
Toll-free: 800-356-3508 (U.S. and Canada)
E-mail: cefa@cefadvisors.com

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CEFA's 1Q 2024 CEF/BDC
Review/Outlook Research Replay

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The ABCs of BDCs and CEFs Replay

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The ABCs of BDCs
(Business Development Companies) Replay

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Visit CEFA's
BDC Universe


KEY FINANCIAL DATA 2024
Recent News
July 2024
TradeTalks. John Cole Scott to discuss what makes closed-end funds unique, July 16, 2024.
Ignites. John Cole Scott, Fee Waivers Aim to Lift Franklin Interval Fund Out of 'Valley of Death', July 8, 2024.
Bloomberg. John Cole Scott, Bill Ackman Bets on US Closed-End Fund Despite Lean Years for Sector, July 5, 2024.
NAVigator. John Cole Scott, picking between funds is about much more than big yields, July 5, 2024.
June 2024
NAVigator. John Cole Scott, BDCs vs. private credit funds, AI impacting money management, June 28, 2024.
May 2024
NAVigator. John Cole Scott on new trends reshaping closed-end funds, May 31, 2024.
Kiplinger. John Cole Scott: 37 Ways to Invest for High Yields, May 21, 2024.
April 2024
The NAVigator. John Cole Scott's early Q2 CEF update, April 19, 2024.
The NAVigator. John Cole Scott's first take on 2024, April 19, 2024.
Bloomberg. John Cole Scott: Saba ETF piles into Equity CEF's eying big discounts, April 10, 2024.
March 2024
CAIA. John Cole Scott, Semi-Liquid Funds: Growth, Fundraising Trends, and Adoption, March 14, 2024.
WealthManagement. John Cole Scott: FLX Networks’ New Program Aims to Educate Advisors on CEF's, March 13, 2024.
February 2024
Fundfire. John Cole Scott: Partners Doubles Down on US Advisor Market with New Growth, Infra Funds, February 28, 2024.
The NAVigator. John Cole Scott: Examining and deciding between BDCs and muni funds, February 23, 2024.
In the Nasdaq. John Cole Scott: Opportunities abound in BDCs, municipal bond closed-end funds with InvestmentNews anchor Gregg Greenberg, February 21, 2024.
January 2024
CFA Society. John Cole Scott: CEF Activism and BDC Overview, January 17, 2024.
The NAVigator. John Cole Scott: 2024 look-ahead, January 05, 2024.
December 2023
The NAVigator. John Cole Scott: 2023 year in review, December 29, 2023.
Bloomberg. John Cole Scott: Discount for CEF's below NAV, December 18, 2023.
LilaMax Media. John Cole Scott: Discount reviewed for Bond CEF's & 2024 CEF Outlook, December 15, 2023.
November 2023
The NAVigator. John Cole Scott: Let’s go Black Friday discount shopping, November 24, 2023.
October 2023
The NAVigator. John Cole Scott: A rough quarter for CEF's, October 20, 2023.
September 2023
The NAVigator. John Cole Scott: Muni discounts keep defying gravity, September 22, 2023.
August 2023
The NAVigator. John Cole Scott shares the million ways to build a portfolio with 40 closed-end funds, August 25, 2023.
The NAVigator - Bonus. John Cole Scott: Discounts are at widest levels in years, hunker down and buy, August 21, 2023.
EisnerAmper. John Cole Scott: Outlook for investing in closed end funds, the greatest opportunities and challenges, August 03, 2023.
June 2023
The NAVigator. John Cole Scott and the funds he is using most for clients now, June 30, 2023.
AICA NAVigator. John Cole Scott: Recent earnings season for BDCs, June 13, 2023.
May 2023
Kiplinger. John Cole Scott: How to Find High Yields in Today's Market, May 6, 2023.
April 2023
The NAVigator. John Cole Scott: Private equity’s increasing role in closed-end investing, April 10, 2023.
Nasdaq TradeTalks. John Cole Scott: What is a Closed-End Fund?, April 5, 2023.
March 2023
Wealth Channel. John Cole Scott: The Case For Closed-End Funds, March 22, 2023.
The NAVigator. John Cole Scott: Upcoming rate, inflation headlines won’t rattle BDCs, March 10, 2023.
February 2023
In the Nasdaq. John Cole Scott: Higher yields and the case for CEFs, BDCs and interval funds with InvestmentNews anchor Gregg Greenberg, February 22, 2023.
The NAVigator. John Cole Scott: How closed-end funds responded to the '23 hot start, February 03, 2023.
December 2022
The NAVigator. John Cole Scott: Expect the weak to get stronger in 2023, December 30, 2022.
The NAVigator. John Cole Scott reviews the year 2022, December 23, 2022.
Nasdaq Trade Talks. John Cole Scott explains why it's important for investors to have granular level data on closed-end funds, December 21, 2022.
Nasdaq Trade Talks. John Cole Scott talks about The Key Features of a Listed Closed-End Fund and What Makes Them Compelling Investments, December 20, 2022.
November 2022
The NAVigator. John Cole Scott goes discount shopping for Black Friday, November 25, 2022.
The NAVigator. John Cole Scott: "Rate uncertainty creates values in muni bonds", November 04, 2022.
Closed-End Fund Advisors
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