Or funds in general rather than CEF specifically, for that matter. What prompts my inquiry is following a discussion I had with one of my office colleagues a few days ago. Our observation - which may or may not be true, this is why I am asking - is that it seems that funds in general managed by "banks", tend not to perform as well as those managed by real fund managers. By "banks", I mean management arm of banks. I'm reading here some horror stories about GCS (managed by DWS ). We had the same observation about some funds - unwound during the crisis- managed by Merrill and Goldman. MAY also, not sure how this fund is managed nor how would a 40% unwind of the fund work looking at how illiquid the Malay stock market is. MS doesn't seem to be in full control of this fund. Is all this a coincidence or is there a pattern ? Should we just stick to funds managed by the AllianceBernstein, PIMCO and other Evergreen or... ? What do you guys think ?