Grant’s: Term Trusts Present An Attractive Opportunity

Looking for fixed income bargains? Grant’s Interest Rate Observer has your back. In the September 18 issue, Grant’s takes a look at four unloved term trusts — closed-end credit funds that liquidate on a given date. [klarman] Term Trusts come in all different shapes and sizes. They all generate income because they hold debt instruments of one kind or another and all liquid on a set date in the future. The recent turbulence in global credit markets has had its effect on these trusts. Many now trade at a discount to net asset value, although, for the astute value investor, this presents an…