Systems and methods for converting closed-end funds to actively managed exchange traded funds

摘要

The present invention relates generally to systems and methods for eliminating the premium or discount and providing liquidity and growth potential through new investments in closed-end funds. The systems and methods of the invention provide means for converting shares of closed-end funds into shares of actively managed exchange-traded funds. NAV estimates and hedging portfolios are provided for the actively managed exchange traded fund shares that provide more up-to-date information on which investors may base negotiated prices.