AICA – Excellence Beyond Indexing

Monthly Archives: February 2023

Ep. 193— XA’s Perry says leverage in rising-rate world is a double-edged sword

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Ep. 193— XA’s Perry says leverage in rising-rate world is a double-edged sword

Ep. 192— GraniteShares’ Rhind: Inflation’s peak improves prospects for BDCs and CEFs

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Ep. 192— GraniteShares’ Rhind: Inflation’s peak improves prospects for BDCs and CEFs

Ep. 191— Wallach Beth’s trading director on CEF liquidity and execution

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Ep. 191— Wallach Beth’s trading director on CEF liquidity and execution

Ep. 190— CEF Advisors’ Scott on how the ’23 hot start changes the closed-end landscape

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Ep. 190— CEF Advisors’ Scott on how the ’23 hot start changes the closed-end landscape

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The information contained herein should not be construed as investment advice, a recommendation to buy or sell any security, or an offer to provide advisory services.

References to specific securities, sectors, investment strategies, or market conditions are for illustrative purposes only and do not constitute investment recommendations. Any discussion of investment strategies may not be suitable for all investors, and there can be no assurance that any strategy will achieve its intended objectives.

Listed closed-end funds (CEFs) and business development companies (BDCs) trade on exchanges at prices that may be above or below their NAVs. There is no guarantee that an investor can sell shares at a price greater than or equal to the purchase price, or that a CEF’s or BDC’s discount will narrow or be eliminated. Non-listed closed-end funds and business development companies do not offer investors daily liquidity, but rather on a quarterly or semi-annual basis, often on a small percentage of shares. CEFs often use leverage, which can increase a fund’s risk or volatility. The actual amount of distributions may vary with fund performance and other conditions.

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