Earn Up to 9% With These Closed-End Funds

When investors talk about owning funds, they usually mean open-end mutual funds, such as the ones you will find in our . Less often these days do you hear much about closed-end funds (CEFs), although their roots can be traced back more than a century. About 500 CEFs trade on U.S. exchanges, compared with nearly 8,000 mutual funds and some 1,800 exchange-traded funds. But CEFs can offer investors a basket of investment assets on the cheap. And they provide juicy payouts that average 8%. If that appeals to you, then these sometimes complicated investments