Western Investment Fixin’ To Clean Up This Here Town

They are taking on everyone at once. Specifically, Western Investment is going after five closed-end funds to take steps to improve their shareholder value. Targets include LCM, AVK, AGO, KMM, and KST. Advent/Claymore Enhanced Growth & Income Fund (NYSE:LCM) trades at a 10% discount to NAV. Advent Claymore Convertible Securities & Income Fund (NYSE:AVK) has a 13% discount. Advent Claymore Convertible Securities and Income Fund II (NYSE:AGC) has a 10% discount. The AGC discount tightened and the shares returned over 6% since I last discussed it. Deutsche Multi-Market Income Trust (NYSE:KMM) has a 9% discount. Deutsche Strategic Income Trust (NYSE:KST) has an 8% discount. All five could benefit from Western’s attention. Here are some more thoughts on the pros and cons of closed-end funds.