Making Headlines

Reporter Andrew Tanzer sheds light on closed-end funds, most of which he claims, “dwell in relative obscurity.” He explores the advantages of the closed-end structure, for example, “most managers don't worry about redemptions or big inflows of new cash, so they can focus on long-term results and put every penny to work.” Calling it  “one of the firm's most compelling offerings,” Tanzer includes Royce Focus Trust (FUND)among the funds he highlights. On Portfolio Manager Whitney George he writes: “George, who runs or co-leads a slew of funds, sees himself as a risk manager. Recently, when investors were shunning risk, he was putting cash to work. George runs a relatively concentrated portfolio of about 50 stocks.”