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Cliffwater’s Condrell: Middle-market credits smooth portfolio returns

January 14th, 2022|Comments Off on Cliffwater’s Condrell: Middle-market credits smooth portfolio returns

Alex Condrell, managing director at Cliffwater discusses the firm's direct lending index and corporate lending fund and how investments in middle-market corporate credit should stand up to the challenges of rising inflation and interest rates...

Flat Rock sees big value in the trade-off of liquidity for return potential

January 7th, 2022|Comments Off on Flat Rock sees big value in the trade-off of liquidity for return potential

Robert Grunewald, chief executive officer at Flat Rock Global discussing how the interval-fund structure provides stability that allows a 'non-bank bank' -- which is the way he describes his firm -- to trade off some liquidity in pursuit of higher fixed-income returns...

John Cole Scott’s crystal ball view of 2022 in closed-end funds

December 30th, 2021|Comments Off on John Cole Scott’s crystal ball view of 2022 in closed-end funds

John Cole Scott, chief investment officer at Closed-End Fund Advisors and the executive chairman of the Active Investment Company Alliance, returns to the podcast this week and turns his lens forward, giving his 2022 projections for discounts, new funds, shareholder activism and more...

28Feb, 2025

John Cole Scott on Well-Managed Portfolios

By |February 28th, 2025|Video Interviews|

In this interview with Jane King, John Cole Scott, President and CIO of CEF Advisors, explains how a well-managed portfolio should contain a mix of high-yielding closed-end funds (CEFs) and business development companies (BDCs) to help generate income for clients. Scott says those funds have been yielding between 7% and 14%, outperforming stocks and bonds. That can be helpful for retirees looking to avoid return risk, Scott says.

Scott also speaks to the tax-planning benefits of CEFs and BDCs, many of which often enjoy “pass-through” tax treatment. And municipal bond fund CEFs are federally tax-free, he adds. Scott also explains how these funds can offer diversification benefits and operate as a potential hedge against inflation. With an eye to monitoring market conditions, Scott says his firm actively manages portfolios containing CEFs and BDCs and makes changes as appropriate.

Learn more about John Cole Scott, CEF Advisors and Hybrid Income Portfolio

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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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