AICA – Excellence Beyond Indexing

Business Advice

Insight2016-08-01T14:51:33-04:00

Calamos’ Freund expects 4 rate cuts in a year, creating wider discounts

August 15th, 2025|Comments Off on Calamos’ Freund expects 4 rate cuts in a year, creating wider discounts

Matt Freund, Co-Chief Investment Officer at Calamos Investments, expects the Federal Reserve to make "a couple of cuts this year, followed by two or three cuts next year," and that those moves will be made while inflation stays at current levels or rise slightly.

A battle over closed-end activism is now awaiting a Supreme Court decision

August 8th, 2025|Comments Off on A battle over closed-end activism is now awaiting a Supreme Court decision

Kenneth Burdon, an attorney with Simpson Thacher and Bartlett, discusses the court cases between Saba Capital and four closed-end fund sponsors that has wound its way to the U.S. Supreme Court and that is expected to force a change in the...

CEF Advisors’ Scott on the realities and mirages of double-digit yields

August 1st, 2025|Comments Off on CEF Advisors’ Scott on the realities and mirages of double-digit yields

John Cole Scott, President of CEF Advisors and Chairman of the Active Investment Company Alliance, digs into his firm's data to look at how many categories of closed-end funds are delivering double-digit yields now, in some cases...

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Disclosure: Views and opinions expressed are for informational and educational purposes only as of the date of production/writing/speaking and may change without notice at any time based on a multitude of factors. Speaker’s/presenter’s/author’s opinions are their own and may not necessarily represent the opinions of AICA, its Board, or its staff. Materials may contain “forward-looking” information that is not purely historical in nature, such as projections, forecasts, market return estimates, proposed or expected portfolio composition, and other items. Listed closed-end funds and business development companies trade on exchanges at prices that may be above or below their NAVs. There is no guarantee that an investor will be able to sell shares at a price greater than or equal to the purchase price or that a closed-end fund’s discount will narrow. Non-listed closed-end funds and business development companies do not offer investors daily liquidity but rather offer liquidity on a monthly, quarterly or semi-annual basis, often on a small percentage of shares. Closed-end funds often use leverage, which can increase the fund’s volatility (i.e., risk). Actual distribution amounts may vary with fund performance and other conditions. Past performance is no guarantee of future results. This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Closed-end funds frequently trade at a discount to their net asset value (NAV).
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Disclaimer Statement

Active Investment Company Alliance The Active Investment Company Alliance (“AICA”) is a trade association committed to educating and engaging investment professionals and investors about closed-end management companies: listed and non-listed closed-end funds, business development companies, interval funds and tender offer funds. The alliance supports transparency and, therefore, does not allow any agent, employee or representative to personally solicit any investment or accept any monies to be invested in a particular fund or security.

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