MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, February 11, 2009 BlackRock's Move Could Spur Copycats Among Closed-Enders Those interested in the closed-end community may find Wednesday's Wall Street Journal Fund Track column by Daisy Maxey of interest. In it, Maxey reports that some BlackRock funds have negotiated lower auction fees on preferred shares that are for sale but fail to find buyers. Such a move, Maxey writes, could be copied by other firms with closed-end funds. The auction fees are collected by auction agents and by broker-dealer firms. The annual report for BlackRock MuniVest Fund II, for instance, states that last December, commissions paid to b-ds on preferred shares that experience a failed auction fell to 15 bps on the aggregate principal amount. Printed from: MFWire.com/story.asp?s=20724 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |