In this paper we examine whether the UK closed-end country fund discounts are related to the illiquidity of the UK fund or the illiquidity of the country the fund invests in. We also consider whether emerging market country funds behave differently in terms of their discount and illiquidity to...

This paper examines whether foreign country consumer sentiment influences the pricing of closed-end country funds. It links the literature on investor sentiment and stock returns to the literature on sentiment and closed-end fund pricing. Using foreign country consumer sentiment indices, we...