Locking up capital has pros and cons
In theory, closed-end funds should outperform over long horizons – they can avoid forced sales. But in practice, lack of monitoring and alignment can lead to agency costs and underperformance.
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CII wants SEC to keep up legal fight
The Council of Institutional Investors has called for the Securities and Exchange Commission to pursue a re-hearing of a controversial proxy access rule that would have bolstered shareholder rights but was recently defeated in a legal challenge.
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