Active Investment Company Alliance

Last call! AICA’s 2024 Fall Roundtable in NYC is just one week out! Please consider joining us on November 13 and register today: https://lnkd.in/eZhjzhYz Explore the universe of #closedend funds, #intervalfunds, #businessdevelopmentcompanies and more at the annual Active Investment Company Alliance Roundtable! The all-day event will be held on Wednesday, November 13, 2024, in New York City at the Down Town Association, a social organization dating back to 1859. The conference, now in its sixth year, is packed with informative panels, engaging speakers, and valuable networking opportunities with fund sponsors, asset managers, institutional investors, #RIAs, and financial advisors active in the closed-end fund space. Get up to date on the latest trends, developments, and investment strategies.

Meet our members! CION Investments (CION) is an open-source solutions provider and a leading manager and distributor of alternative investment solutions designed to redefine the way individual investors build their portfolios and meet their long-term investment goals. The New York City-based firm was formed in 2011 by its Co-Founders and Co-Chief Executive Officers Mark Gatto and Michael Reisner, but is backed by more than 30 years of experience in the alternative asset management industry. CION sponsors several products and investment industry solutions, including CION Investment Corporation, a debt-focused business development company (BDC) with the NYSE ticker symbol “CION”. The publicly listed BDC has approximately $2.0 billion in total assets and primarily provides senior secured loans to U.S. #middlemarket companies. Visit our website to learn more about CION Investments and read a Q&A with Mark Gatto: https://lnkd.in/ejP8qpqE

AICA’s 2024 Fall Roundtable in NYC is just around the corner on November 13! With just two weeks to go before the big event, we’re having another two-day flash sale! Register today or tomorrow and receive 31% off the registration price! Just use the code: “Halloween31OFF" Register: https://lnkd.in/eZhjzhYz Act fast! Roundtable pricing goes up Nov. 1. Register today! Explore the universe of closed-end funds, interval funds, business development companies and more at the annual Active Investment Company Alliance Roundtable! The conference, now in its sixth year, is packed with informative panels, engaging speakers, and valuable networking opportunities with fund sponsors, asset managers, institutional investors, RIAs, and financial advisors active in the closed-end fund space. Get up to date on the latest trends, developments, and investment strategies. Previous panels have explored everything from activism to closed-end fund structure to the rise of interval funds. The all-day event will be held on Wednesday, November 13, 2024, in New York City at the Down Town Association, a social organization dating back to 1859. AICA is known for combining high quality, advisor-centric content, distinguished by its invited speaker presentations (our speakers don’t pay to speak) that enable meaningful discussion and interaction. AICA also sponsors the weekly NAVigator Podcast. True to our motto — Excellence Beyond Indexing — AICA strives to help grow relationships for institutional investors, advisors, service providers, and fund sponsors within the industry.

Jonathan Browne of RiverNorth Capital Management, LLC, Portfolio Manager on five of the firm’s municipal bond closed-end fund-of-funds, is our guest on this week’s NAVigator Podcast! In the interview, Browne says that the headwinds that made for big struggles in the muni bond space have shifted to become tailwinds, creating opportunity despite the strong recent rebound among muni bond funds. He says that the rising rate cycle had led to discounts reaching the 12 to 15 percent range — a level previously only reached during financial crises — making #munis about as cheap as they had ever been. Now, even after a run of more than 30 percent, muni #closedendfunds are at the 70th percentile of cheapness, with “quite a bit of room to run.” Visit our website to listen to the podcast and learn more: https://lnkd.in/g6nVHy-3

AICA’s 2024 Fall Roundtable is just three weeks away! Because we really want to see you in NYC on Nov. 13, we are having a two-day flash sale! Register today or tomorrow and receive 50% off the registration price! Just use the code: “FLash50" Register: https://lnkd.in/eZhjzhYz Act fast! Roundtable pricing goes up Nov. 1. Register today! Explore the universe of closed-end funds, interval funds, business development companies and more at the annual Active Investment Company Alliance Roundtable! The conference, now in its sixth year, is packed with informative panels, engaging speakers, and valuable networking opportunities with fund sponsors, asset managers, institutional investors, RIAs, and financial advisors active in the closed-end fund space. Get up to date on the latest trends, developments, and investment strategies. Previous panels have explored everything from activism to closed-end fund structure to the rise of interval funds. The all-day event will be held on Wednesday, November 13, 2024, in New York City at the Down Town Association, a social organization dating back to 1859. AICA is known for combining high quality, advisor-centric content, distinguished by its invited speaker presentations (our speakers don’t pay to speak) that enable meaningful discussion and interaction. AICA also sponsors the weekly NAVigator Podcast. True to our motto — Excellence Beyond Indexing — AICA strives to help grow relationships for institutional investors, advisors, service providers, and fund sponsors within the industry.

Dana Staggs, President of Arrowmark Financial Corp., is our guest this week on the NAVigator Podcast! In the interview, Staggs discusses how regulatory capital relief securities can function as an alternative investment. “They benefit from what I would characterize as a stable NAV, so the valuations don’t move much up or down,” he says, adding that “they also have a very low correlation to a lot of other investment products.” Visit our website to listen to the podcast and learn more: https://lnkd.in/dzqK7ZWr

As corporate actions become more common, investors in closed-end funds have more opportunities to potentially improve portfolio performance — especially if they stack the deck in favor of discounted funds, says AICA Chairman John Cole Scott. Rather than ignore corporate actions such as tender offers, liquidations, rights offerings, and dividend policy changes, thoughtful responses to these events can potentially provide investors with alpha opportunities, he adds. Curious to learn more? Visit our website and download our white paper on corporate actions in #closedendfunds today: https://lnkd.in/eZFDNmkE

It’s celebration time! That’s right, the NAVigator Podcast is officially five years old and we’re having a contest to commemorate the occasion. Step One: Tune in to the latest episode of the podcast, which features a discussion on #intervalfunds with our Chairman John Cole Scott. Step Two: Listen for the contest question and follow the directions for entering the contest. Step Three: Tune in to the NAVigator Podcast again on October 25 to hear if you’re a lucky winner! Winners will receive the book, “Investing in Closed-End Funds: Finding Value & Building Wealth,” by Albert J. Fredman and George Cole Scott! Visit our website to listen to the podcast and enter the contest: https://lnkd.in/eZzv3ZuY

Sean Feeley, CFA, High Yield Portfolio Manager at Barings, is our guest on this week’s NAVigator Podcast! In the interview, Feeley says he believes that with the bulk of interest rate adjustments happening at the short end of the yield curve, a wave of refinancing of shorter-term debt is coming, and that this typically makes high-yield investments look more attractive. Feeley expects the economy to avoid a recession, with strong balance sheets contributing to a soft landing situation that plays out into 2025. Visit our website to listen to the podcast and learn more: https://lnkd.in/dJDZAdSs

John Cole Scott, AICA Chairman and President of Closed-End Fund Advisors, looks ahead to the fourth quarter on this week’s edition of the NAVigator Podcast! In the interview, John discusses two equity and two fixed-income funds that hit his trifecta — an analytical mix of discount, dividend, and net asset value — and that he says look particularly promising for year-end portfolio moves. Visit our website to listen to the podcast and learn more: https://lnkd.in/eydW-jZe