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

John Cole Scott reviews a rough quarter for closed-end funds

October 20th, 2023|Comments Off on John Cole Scott reviews a rough quarter for closed-end funds

John Cole Scott, president of Closed-End Fund Advisors -- the chairman of the Active Investment Company Alliance -- digs into his data to give a recap of the third quarter for the closed-end fund industry, noting that municipal bond funds and REIT funds particularly took it on the chin...

VettaFi’s Islam on the struggles/potential of ETFs buying closed-end funds

October 13th, 2023|Comments Off on VettaFi’s Islam on the struggles/potential of ETFs buying closed-end funds

Roxanna Islam, head of sector and industry research at VettaFi, says that cautious retail investors have been looking for safety and yield and that while closed-end funds have traditionally filled that bill, investors in ETFs that buy closed-end funds have been avoiding a lot of the struggles by turning elsewhere to invest.

Christian Munafo on private equity markets

October 13th, 2023|Comments Off on Christian Munafo on private equity markets

Christian Munafo, Chief Investment Officer, Liberty Street Advisors, Inc., sat down with Jane King on October 4, 2023, for a NAVigator Interview to discuss private equity markets. Munafo talked about why companies are staying private for longer and he touched on recent developments in the secondary market.

22Aug, 2025

John Cole Scott’s August 2025 Update

By |August 22nd, 2025|Video Interviews|

John Cole Scott, President and CIO of CEF Advisors and Chairman of the Active Investment Company Alliance, provides a mid-year 2025 update on closed-end funds (CEFs) and exchange-traded funds (ETFs). He notes that his firm’s online database, CEFData.com, recently added a new 250-ticker symbol ETF data file with over 150 metrics in response to increasing interest in, and active management of, ETFs. Scott explains how both ...

20Aug, 2025

Covered Call CEF MCN Ends Q2 Ahead of Market Indexes

By |August 20th, 2025|Articles, Member Insights|

Saratoga Investment Corp. (NYSE: SAR), a publicly listed business development company (BDC) that provides debt financing and equity capital to middle market companies, continues to exhibit a high-performing lower middle market core portfolio and provides a good market opportunity for investors, despite two recent discrete non-accruals that dented its stock price, Saratoga’s CFO says.

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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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