Closed end funds need more governess not less. I own 2 funds (BIGZ and Ecat) where the trustees do not own a share of the CEF. If they have that little confidence in management should they be overseeing the funds?many closed end funds use leverage which also increase fees depending on the amount of leverage. Why aren’t Trustees responsible for reporting to shareholders if the leverage enhanced returns or just increased the cost of the fund? Something else I think the SEC should investigate. When BCAT and BIGZ had their IPOs they went to approximately 10 percent premiums within several days. I had never seen CEFs go to such premiums immediately after the offering. What caused this? Was someone pushing shares to premiums to try to entice speculators to buy the next offering for a quick profit?