Fund Launch: Archstone Alternative Solutions
Archstone Alternative Solutions Fund Was declared Effective by the SEC on July 26 2016. Archstone is distributed by Foreside Investment Services, and Sponsored by the Archstone Partnerships
Vertical Capital Income Fund Announces 2016Q2 Results
Vertical Capital Income Fund has announced 2016Q2 results:
….The Fund produced a total return of 2.42% for Q2 2016—or -2.20% including sales load. The Fund’s total assets under management exceed $181 million.
“Since inception, the Fund has produced a total return of 10.12%—or 9.01% including a 4.50% sales load—compared to a total return of 3.07% for the Barclays Capital Mortgage Backed Securities Index, which reflects the performance of investment grade fixed-rate mortgage-backed pass-through securities,” said Robert J. Chapman, Chairman of the Fund’s board of directors.
Converting from a BDC
California based VII PEAKS CO-OPTIVIST INCOME BDC II, INC. , has begun the process of converting from a business development company(BDC) to a closed end interval fund.
Newly Launched Interval Funds
The universe of closed end interval funds continues to grow, with a diverse group of Sponsors launching new funds. To track funds in registration, and new funds declared effective, see Public Listings Update under Tools and Data.
Several funds have been declared effective and begun raising capital in 2016. For example, Nexpoint Real Estate Strategies Fund was declared Effective by the SEC on July 1, 2016. The fund’s adviser is NexPoint Advisors, L.P., headquartered in Dallas, TX, a SEC-registered investment advisor, and an affiliate of Highland Capital Management. NexPoint/Highland is a highly experienced group in the alternative investments space. It serves as an external adviser to numerous credit and real estate funds, including publicly traded and private funds. With at least 6 closed-end fund interval funds in registration NexPoint/Highland is clearly making a large bet on the structure’s ability to deliver alternative strategies to a wide variety of investors.
Top 5 Interval Fund Whitepapers
Interval Fund Tracker keeps tabs on the best industry research covering interval funds. See the Research section for additional resources and ongoing updates.
Here are the Top 5 Interval Fund Whitepapers in the industry today.
Launching Innovative Strategies With Continuously Offered Closed-End Funds – DST kasina
Best balanced review of the benefits and challenges of interval funds and other continuously offered closed-end funds. It also puts interval in their proper context in the broader fund universe. This is a must read for any Sponsor that is considering launching a fund, or any BD/RIA that plans to offer interval funds. A few key quotes:
Finally, with much of the negative press associated with non-traded REITS, and an unwillingness among many advisors to invest in business development companies (BDCs), an interval or tender offer closed-end fund structure might be a better option for managers seeking to introduce new and less-liquid real estate or energy investment strategies…
…Sponsors of interval funds need to ensure their national account, sales, marketing and product teams are working symbiotically to educate and engage advisors at the right time during their decision-making process. This includes both in-person and digital engagement. Naturally, some broker/dealer platforms are more receptive than others. Several asset managers have found a receptive home for their interval funds among small- to mid-size broker/dealers. In those cases, the firm’s National Accounts team diligently identified the fund needs of the platform, and worked closely with the platform gatekeepers to position the fund. In addition, they selected several members of their internal/external sales team to actively support platform advisors…