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Ep. 298 — CEF Advisors’ Scott on discounts, wildfires, benchmarks and more

January 31st, 2025|Comments Off on Ep. 298 — CEF Advisors’ Scott on discounts, wildfires, benchmarks and more

John Cole Scott, chief investment officer at Closed-End Fund Advisors — the chairman of the Active Investment Company Alliance — brings his data and portfolio-management methods back to The NAVigator to answer questions ...

Activism in Closed-End Funds: The Sector’s Hottest Topic

January 29th, 2025|Comments Off on Activism in Closed-End Funds: The Sector’s Hottest Topic

Interval funds are one of the fastest-growing sectors of the alternative investment industry. Just ten years ago there were only about 25 such products on the market. Today there are now more than 110 interval funds actively managing more than $103 billion in total assets.

Discounts for Closed-End Funds Widen Again, Remain Attractive in Q4

January 28th, 2025|Comments Off on Discounts for Closed-End Funds Widen Again, Remain Attractive in Q4

Following consecutive quarters of discount compression, the universe of closed-end funds (CEFs) saw discounts widen again in the fourth quarter of 2024, averaging close to -6% and yielding about 9%, said John Cole Scott, AICA Chairman and President of Closed-End Fund Advisors (CEF Advisors), during his firm’s 52nd consecutive quarterly research call covering the CEF and business development company (BDC) universe.

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Disclosure: This content is provided for informational and educational purposes only and is intended solely as a summary of the views expressed. The opinions expressed are those of the speakers and/or presenters as of the date of the content, are their own opinions, may not be the opinions of AICA and are subject to change without notice.

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.

Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal. Forward-looking statements, expectations, and projections are inherently uncertain, and actual results may differ materially from those discussed.

This content does not take into account the specific investment objectives, financial situation, or particular needs of any individual investor. Prospective investors should consult their financial, legal, and tax advisers before making any investment decision.

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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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