Does anyone have stories/data on CEFs that actively adjusted their allocations in the covid crisis to generate alpha? It's a little disappointing I find that most CEFs simply have static allocations, and are diversified within that allocation, so the managers are actually irrelevant and they might as well be leveraged indexes. I specifically focus on taxable bond funds, but any stories would be interesting.
Here is one -- JHS (which is an investment grade bond CEF, and a very large part of my current portfolio) sold about half their agencies and all their foreign bonds (about 30% of port) and put it all in US corporates, mostly BBB sometime in April. They understood the impact of the fed, generated significant alpha, and, while only one instance to me indicates a responsible, level-headed active management. Any other examples?