The RiverNorth CEF Index is an equal weighted index of 75 taxable closed-end funds. The rules-based index has two objectives: 1) to ensure the index constituents provide asset class exposures similar to the broader taxable closed-end fund market, and 2) to ensure the index constituents have trading liquidity. To accomplish these objectives, the RiverNorth methodology first weights the asset classes based on their respective net asset values within the taxable closed-end fund market and second, selects the most liquid closed-end funds within each asset class and equal weights each security to represent the asset class in the index. The index is rebalanced annually on June 30th.
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