Closed End Fund Discount

Closed-end funds trading at deep discounts to NAV — structural arbitrage

Total Return

+42.5%

Sharpe Ratio

0.90

Max Drawdown

-14.8%

Win Rate

57.8%

Alpha

-53.8%

Comp. Score *

0.11

Risk Parameters

Max Allocation13.2%

Stop Loss14.8%

Take Profit6.3%

Max DD Tolerance14.8%

Rebalancemonthly

Execution Guidance

Order TypeLimit

Entry RuleBuy 0.5% below market in uptrend.

TimingSAFE TO BUY. *

ScalingEnter in 3 tranches over 1-2 weeks.

Positions — Vol-Adjusted Sizing

Symbol	Action	Vol	Stop Loss	Take Profit	Size	Links
PDI	BUY	15%	9.3% below entry	4.0% above entry	21.0%	TV YH
PTY	BUY	12%	7.5% below entry	3.2% above entry	26.0%	TV YH
BST	BUY	22%	14.0% below entry	5.9% above entry	14.0%	TV YH
BSTZ	BUY	26%	16.4% below entry	7.0% above entry	11.9%	TV YH
UTF	BUY	14%	8.7% below entry	3.7% above entry	22.5%	TV YH
UTG	BUY	18%	11.3% below entry	4.8% above entry	17.3%	TV YH
GOF	BUY	18%	10.9% below entry	4.6% above entry	17.9%	TV YH