Non-U.S. closed-end funds

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Andriosopoulos, Dimitris and Fletcher, Mary H and Marshall, Andrew; Baker, H. Kent and Filbeck, Greg and Kiymaz, Halil, eds. (2015) Non-U.S. closed-end funds. In: Mutual Funds and Exchange-Traded Funds. Oxford University Press, New York. ISBN 9780190207441

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Abstract

Closed-end funds (CEFs), also called investment trusts in the United Kingdom, were one of the first specialist financial intermediaries set up in the United Kingdom. Their aim was to provide small investors access to a managed diversified portfolio and to increase share ownership. From their origins in 1868 with the Foreign and Colonial Investment Trust, U.K. CEFs grew in popularity, spreading to the United States (Newlands 1997). Burton and Corner (1968) and Masey (1988) give insightful accounts of the turbulent history of CEFs. This chapter focuses on the regulations and existing evidence on non-U.S. CEFs. Because of the impact of U.K. CEFs on this sector, this chapter concentrates mainly on research into U.K. CEFs. This chapter updates the earlier review of CEFs by Dimson and Minio-Kozerski (1999) and complements the reviews by Cherkes (2012) and Fletcher (2013) of U.S. CEFs and single-country CEFs.

ORCID iDs

Andriosopoulos, Dimitris ORCID logoORCID: https://orcid.org/0000-0003-3033-2308, Fletcher, Mary H and Marshall, Andrew ORCID logoORCID: https://orcid.org/0000-0001-7081-1296; Baker, H. Kent, Filbeck, Greg and Kiymaz, Halil
CORE (COnnecting REpositories)