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Valuation of Canadian closed-end funds
Digital Document
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Author (aut): Flechas Moreno, Juan Carlos
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Degree granting institution (dgg): University Canada West. Master of Business Administration
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| Abstract |
Abstract
This paper examines the market discounts on closed-end funds currently traded on the Toronto Stock Exchange (TSX) based on those discussed in Burton G. Malkiel's article "The Valuation of Closed-End Investment Company Shares.” The main objective is to describe if discounts of closed-end companies listed in the TSX can be supported by the postulates suggested by Malkiel in his study. Additionally, this study describes fund characteristics to inform the average investor about alternatives available in the TSX. The analysis reveals that closed-end funds in Canada do not consistently trade at discounts. Therefore, Malkiel's postulates are partially true compared to the Canadian market. The results were obtained by analyzing the top 10 closed-end funds characteristics by volume traded between 2019 and 2023. |
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pdf file; 44 pgs
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Physical Description Note
OTHER
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Use and Reproduction
author
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Rights Statement
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| Keywords |
Keywords
TSX
Closed-end
Funds
Canada
Discounts
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Cite this
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English
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| Name |
Redacted_Flechas_ValuationOfCanadianClosedEndFunds.pdf
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application/pdf
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1046734
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