2007年,封闭式基金曾经历了一波转开放的小高潮,而2014年将会是另一个小高潮。目前市场上的22只传统封闭式基金中,将有13只要在2014年集中到期。这意味着折价率在未来将强制缩小,而目前这些基金的平均年化折价率在7%左右,也就是说,至少有7%左右的安全垫。这样的诱惑,在当前的市场环境中,还是不小的。封闭式基金的“超额”收益一般而言,二级市场投资封闭式基金的收益主要来源于三块:一是净值上涨带来的价格上涨,二是分红填权的收 In 2007, closed-end funds have experienced a wave of turning around to a small upsurge, and 2014 will be another small upsurge. Of the 22 traditional closed-end funds on the market today, 13 will be due for centralization by 2014. This means that the discount rate will be forced to narrow in the future, but the average annual discount rate of these funds is about 7%, that is, at least 7% of the safety mat. This temptation, in the current market environment, or not small. Closed-end funds “excess ” revenue In general, the secondary market investment income closed-end fund comes mainly from three: First, the net increase in prices brought about, the second is the dividend received