@article {Williams12, author = {Paul C. Williams and Matthew T. Moran}, title = {New Options-Based Closed-End Funds Designed for Yield and Risk Management}, volume = {2005}, number = {1}, pages = {12--17}, year = {2005}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Twenty-four new closed-end funds that use options strategies raised an aggregate of more than $13 billion in assets in the 12-month period ending in June 2005. Closed-end funds have certain advantages in dealing with options instruments, in that such funds are not subject to liquidation to cover redemptions or exchanges of assets for stock. A number of factors have facilitated the growth of these funds, including low long-term interest rates, lower expected equity returns for investors, the availability of new options performance benchmarks, good press coverage of the Ibbotson study on the BXM buy-write index, and increased investor interest in higher yield and lower volatility investment products.}, URL = {https://guides.pm-research.com/content/2005/1/12}, eprint = {https://guides.pm-research.com/content/2005/1/12.full.pdf}, journal = {ETFs and Indexing} }