Closed-ended funds: the weapon of choice for sophisticated investors

The light-hearted Christmas review of my personal experiences over three decades concluded that the investment vehicle of choice for battle-hardened global investors should be a UK or US discount brokerage account used to invest in exchange traded funds - of both new index-tracking and traditional closed-end varieties. This article looks at the serious reasons why this approach provides the best chance of generating star returns through one's own fund-of-funds management without the lottery of searching for the star generalist. marketing nightmare equals investment opportunity ...