Listed as one of Citigroup's top 20 picks for 2006 in their "U.S. Portfolio Strategist" released 01/05/06. The only other CEF listed in the group was ETG.
Snipped from the report:
"Investment Thesis EVV is a well-diversified, solid investment choice in the multisector bond fund category. Our Buy rating is based on EVV�s historically wide yield advantage, attractive valuation relative to net asset value (NAV), and improved dividend fundamentals.
Relative to its peers, EVV has always traded at a slight �yield advantage.� However, in recent weeks, the fund has sold off such that its yield advantage and its discount to NAV are at their widest since inception.
In the past, EVV, like its peers, has succumbed to reinvestment risk and higher borrowing costs, which had a negative impact on the fund�s earnings and dividend. However, the fund�s earnings have improved, and it is now overearning its dividend while most of its peers are underearning theirs."
Sorry but I posted too quickly yesterday. Citigroup has 72 picks for 2006, not 20 as I mis-read. Three closed-end funds: ETG, EVV and BFK.
The following are all rated BUY:
Ticker UTX UPS NKE BWA BAC MI NFB CM.TO PEP AMGN HGSI CCU SCHW LEN DOX CTAS MCCC MON ETG EVV BFK CBG AVP QLGC AYE EEFT JBL NRG WMI UNFI ADM HET CYH DVA MET XL WMB AHC GOOG WYE GME MAR ITW UNH PAA JNJ AA ESE GE FST HAL A.TO DELL MDP FD BBY ROST INTC NVLS FCS SSW SYMC COGN RSAS KFN SEPR SLM CSCO QCOM AMT MO