Cohen & Steers Closed-End Opportunity Fund (NYSE:FOF) is a non-diversified, closed-end management investment company that seeks to provide total return, combining current income and capital appreciation. The fund primarily invests in publicly traded closed-end funds across a range of asset classes and leverages its capital to enhance yield. By targeting closed-end funds trading at discounts to their net asset value, the portfolio aims to capture price convergence and generate attractive risk-adjusted returns over a market cycle.
The fund’s investment strategy spans multiple sectors, including equity, taxable fixed income, tax-exempt municipal securities, convertible securities and preferred stock. Portfolio managers conduct fundamental research on underlying closed-end fund holdings, discount trends and interest rate environments to identify mispricings. Tactical allocation among asset classes and geographic regions enables the fund to adjust its exposure in response to changing market conditions and sector valuations.
FOF was launched in January 1991 and is managed by Cohen & Steers, a global investment firm founded in 1986 by Martin Cohen and Robert Steers. Over more than three decades, Cohen & Steers has been recognized as a specialist in real estate securities and closed-end fund investments. The fund’s management team is led by seasoned portfolio managers who leverage the firm’s research capabilities and deep experience in closed-end vehicles to pursue the fund’s objectives.
With a global investment mandate, Cohen & Steers Closed-End Opportunity Fund allocates capital to opportunities in North America, Europe and select emerging markets. By combining active management, disciplined research and flexible use of leverage, the fund serves individual and institutional investors seeking enhanced income and potential capital appreciation through exposure to the closed-end fund universe.
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