CEF INSIGHTS Closed-End Fund Association

Interval funds have surged in popularity among investors seeking diversification, access to private securities and alternative assets, and the potential for higher returns. And in recent years, private credit-focused intervals have shown especially strong growth. In this first CEF Insights Podcast episode on intervals, FS Investments Managing Director of Credit Wealth Solutions Robert Hoffman offers insight into the current interval fund environment, the benefits of a private credit strategy, and more.
Learn more about interval funds at CEFA.com with resources including interval fund data, education, and news.
FS Investments is a global alternative asset manager dedicated to delivering superior performance and innovative investment and capital solutions, including closed-end funds and interval funds. Learn more at fsinvestments.com.  

Many closed-end funds continue to face activism which is often focused on short-term actions that may not benefit the long-term strategy of a fund – and limited shareholder participation in proxy voting can give activists outsized influence. In this two-part discussion, learn about the importance of shareholders participating in proxy voting from Georgeson’s Chris Hayden and typical activist proposals and the potential impacts on a fund from Chatsworth Securities’ Dennis Emanuel.

The Chinese equities market struggled in 2022 and 2023, but the consumer market continues to broaden and develop, which presents potential opportunities for medium and long-term investors of Franklin Templeton’s Templeton Dragon Fund (TDF). Gain insight into the current Chinese market landscape, TDF’s strategy, and why the time is now to invest in China, from Portfolio Manager Nicholas Chui.
The Templeton Dragon Fund (TDF) seeks long-term capital appreciation by investing at least 45% of assets in the equity securities of companies whose primary business are conducted in, or whose main offices are in China. This may also include companies whose business is expected to improve from development in China and may include other Asian firms.

With current market dynamics, Merk Investments President and Chief Investment Officer sees significant upside potential in junior gold miners, the focus of ASA Gold and Precious Metals Limited (ASA). At the same time, ASA shareholders have an important vote on its Board of Directors, which could impact the Fund. Gain insight into the current market, ASA’s strategy, and the need for shareholders to vote in the latest CEF Insights Podcast episode.  
 
Merk Investments focuses on gold, precious metals, and minerals, and is the Advisor to ASA Gold and Precious Metals Limited (ASA), a closed-end precious metals fund. Learn more here.   

Market volatility remains a concern despite steady economic conditions, making convertible securities and high-yield bonds like the Advent Convertible and Income Fund (AVK) potentially attractive to investors. Gain insight into AVK’s strategy, performance, and outlook from Tony Huang, Portfolio Manager at Advent Capital Management, a leader in managing convertible securities.  
 
Advent Capital Management is the Investment Adviser of the Advent Convertible and Income Fund (AVK), a closed-end fund which aims to provide total return through a combination of capital appreciation and current income. The Servicing Agent for the Fund is Guggenheim Funds Distributors. Learn more here.

As one of the world’s largest managers of collateralized loan obligations (CLOs), Carlyle leverages its 25 years of experience and broad resources including 20-plus research analysts to help investors generate income and capital appreciation through the Carlyle Credit Income Fund (CCIF). Gain insight into CCIF’s strategy, positioning, current market dynamics, and more from Managing Director and Portfolio Manager Nishil Mehta below.    
 
Since July 2023, Carlyle has served as the investment advisor to CCIF, an externally managed closed-end fund focused on investing in primarily equity and junior debt tranches of CLOs. The CLOs are collateralized by a portfolio consisting primarily of U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors.