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Rating:How Will Closed-End Fundsters React to S&P's New Plan? Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, September 23, 2010

How Will Closed-End Fundsters React to S&P's New Plan?

News summary by MFWire's editors

Fundsters interested in the closed-end side of the universe, particularly the preferred shares there, may want to look at today's Wall Street Journal "Fund Track" column. Daisy Maxey reports on Standard & Poor's proposed new ratings criteria for the preferred shares of closed-end funds.

The WSJ article includes thoughts from Cecilia Gondor of Thomas J. Herzfeld Advisors, Henry Albulescu from S&P and Roger Merritt from Fitch Ratings, which revised its closed-end fund ratings criteria last year. The trio wonder whether some of the 220 closed-end funds potentially affected by the change (according to an S&P estimate) will choose to drop S&P instead of adjusting their portfolios or suffering a downgrade. 

Edited by: Neil Anderson, Managing Editor

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