"Michael" <g...@v...net> wrote in message
news:2008100508220416807-genef@verizonnet...
>> Without telling us which closed end and open end funds you have we can
>> only
>> guess at why they performed differently.
>
> A few of the biggest losers were: Alpine Global (AWP), DNP Select (DNP),
> and Dreman/Claymore (DCS). I'm afraid I don't completely understand NAVs
> and don't know if they were purchased at a premium but, in the last year
> these funds and some others have dropped like nothing I have ever seen.

AWP is an international real estate fund, not the sort of fund to have
during a mortgage and financial crisis. It is also at a 12% discount to its
NAV (6.13 vs 7.01).

DNP is a fixed income fund, again not the sort of fund to have during a
mortgage and financial crisis. You are lucky with this one as it is at a 24%
premium to its NAV (9.41 vs 7.60).

DCS is a leveraged fund that invests in dividend paying stocks and as of
August 31, 2008 had 42% of assets in the financial sector. Sorry, but this
is exactly one of worst funds to have during a mortgage and financial
crisis. It is also at a 21% discount to its NAV (4.81 vs 6.06).

Your open end funds must have different investment objectives than these 3
closed end funds.

A good site for information on closed end funds is the Closed-End Fund
Association at www.cefa.com.

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