Nuveen, a TIAA company reposted this
For more than a century, closed-end funds (CEFs), an investment vehicle similar to mutual funds, but with a “closed” structure, have helped millions of individual investors build wealth and achieve long-term financial goals. These funds are popular among retirees as they can provide higher distribution levels, including income—which is cash in your pocket—than other options. But unfortunately, CEFs are increasingly under attack from hedge fund activist investors looking to pursue a quick profit for themselves and in turn, threatening the availability of the investment opportunity in the future. Amidst the backdrop of the broader retirement crisis in the U.S., this cannot stand. Change is required at the legislative level to reign in these activist hedge funds and enforce protections for long-term investors.