Diversified » Cohen & Steers Closed-End Opp CEF
Page updated 3/7/2026

The Cohen & Steers Closed-End Opportunity Fund (ticker symbol FOF) is a distinctive closed-end fund-of-funds that seeks to provide total return, emphasizing both high current income and capital appreciation, by investing in a diversified portfolio of other closed-end funds (CEFs). FOF's strategy centers on identifying attractive CEFs—primarily equity and fixed income funds—across multiple sectors, asset classes, and geographies, with the goal of capitalizing on market inefficiencies and the unique pricing dynamics of the CEF universe. By holding a broad basket of CEFs, FOF offers investors access to diverse investment approaches, skilled active managers, and asset classes that may otherwise be out of reach for most individuals. A key appeal of FOF is its ability to actively manage its allocations, tactically shifting exposure based on market conditions, relative value among CEF discounts & premiums, and changes in underlying portfolios. This strategic overlay potentially allows for the capture of additional alpha compared to owning individual closed-end funds or pursuing a passive allocation. Furthermore, FOF distributes regular monthly income, a feature attractive to income-focused investors, and its yield is often competitive due to the underlying funds' enhanced income strategies. Compared to investing in individual CEFs, FOF mitigates single-fund risk and smooths out volatility by spreading exposure across dozens of holdings. For investors new to closed-end funds or those seeking simplified access to the space without the burden of analyzing discounts, leverage, and sector allocations independently, FOF provides a convenient, diversified, and professionally managed gateway, combining income potential with the expertise of Cohen & Steers, a highly regarded CEF specialist.