T, So many have been open ended lately that it is hard to find another. My most recent was Van Kampen Convertible Securities, which I actually managed for a little while. It open ended last year and gave me one of my biggest wins in a long time. DSI did it, too, but it wasn't such a big winner.
Those two should give you a clue. Very large mutual fund cos. with small cefs that are selling at deep discounts. And not a huge CEF presence. Fidelity Asia was open-ended, too. There aren't many of the big open end cos. with lonesome cefs left any more. Cos. like Templeton and Morgan Stanley have large CEF contingents, so they are unlikely to open end. Also, the income funds are unlikely to do so because they sell better as closed end than open end.
One possibility are Royce and Gabelli funds, but I don't see either wavering from their support of the CEF concept. In fact, Gabelli went the other way, taking his close ending his open end convertible fund. So, I don't see a lot of candidates, though a few could happen. Equus II here is Houston is a possibility, but mgt. has been fighting a forced open ending for years. |
