Cornerstone Strategic Value Fund (CLM)

[pandatrader]

I think these funds are actually designed to underperform the S&P500.

I'm not even sure there's a correlation between the performance of the S&P500 and either of the Cornerstone funds (CLM or CRF) and I believe the 21% figure touted in the annual reports is rather arbitrarily picked from a hat, so to speak.

I think the boards figure the funds gained from each #RO will more or less carry each fund through the following year, and in the past few years it has.

There has been some decay in overall share price, and #NAV as well as the yield, but it's still fairly high and sustained by the inflows of cash with each #RO and some smart purchases and sales of stocks, etc.

It's quite common for CEFs to have #ROs to grab some fresh cash.