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The Handbook of Professionally Managed Assets: A Definitive Guide to Profiting from Pooled Investments by Keith R. Fevurly

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Closed-End Funds

This chapter begins this part of the book on other pooled assets in the ­lexicon of professionally managed assets (PMAs) with a “backwater” (less well-known) asset: closed-end funds (CEFs). The next chapter then takes up another backwater asset: the unit investment trust (UIT). Chapter 8 closes Part 3 with a type of PMA that is burgeoning in popularity: exchange-traded funds (ETFs).

This chapter introduces the pattern I will follow in the next three parts of this book for discussing each successive form of PMA, call it X:

  • What is X?
  • Advantages of X
  • Disadvantages of X
  • Who should purchase X?
  • What selection criteria should be ...

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