Equity
Closed-End Fund Strategies Team
The team aims to identify and invest in compelling opportunities by exploiting the abundant inefficiencies in the closed-end fund market.
Unique closed-end fund strategies are built to generate uncorrelated alpha.
Competitive advantages
Unique source of alpha generation
The team capitalizes on market inefficiencies and discounts driven by fear and greed.
Repeatable investment process
A proprietary quantitative model enhanced by experience and sound judgment allows the team to exploit volatile discounts.
“Deep discount” investing
The team’s model is built to capitalize on the tendency of CEF shares to trade at discounts to NAV following an IPO, so they’re paying 85¢ for $1.00 of assets.
Reactive—not predictive—investing
Eliminating dependence on forecasting and pro-forma estimates.
Structural advantages
The team invests through the market cycle, creating a stable pool of assets under management.
Sell discipline
The sell signal is clearly defined and driven by discounts; the team sells near or above parity to NAV.
