Barron’s Story on Interval Funds

Barron’s featured a story on interval funds this weekend-  Interval Funds: Making the Best of Illiquid Assets.

Here are a few highlights:

“One of the conundrums facing income-seeking investors is that some of the highest-yielding securities are the toughest to buy and sell…”

“Interval funds are offering individual investors access to strategies and asset classes that they aren’t focused on, and maybe they should be…”

“There are a lot of open-end funds that might be better off as interval funds.”

FS Investments Launches Fund With Magnetar Capital As Subadviser

FS Investments registered the FS Energy Total Return Fund on October 25. The fund will seek to raise up to $2 billion. The minimum initial investment for Class A and C shares will be $2,500, and the minimum investment for the institutional class I shares is not yet set. Class A Shares have a upfront commission, while Class C Shares have a no upfront fee, but instead have an ongoing servicing fee.

Magnetar Capital, which became famous for making massive profits during the financial crisis, will serve as the sub-adviser. Institutional Investor’s Hedge Fund Report Card ranked Magnetar as one of the top hedge funds in the world in 2015.

Hedge Funds With More Transparency

Recently there was a Great article by Maks Financial Services on Seeking Alpha.

The whole piece is worth reading, but here is one of our favorite quotes:

“Rather than think of interval funds as mutual funds with limited liquidity, you can view certain intervals as hedge funds with more transparency.”

Northstar : Interval Funds Gaining Momentum

Dan Gilbert of North Star Asset Management (NYSE: NSAM) discussed the importance of interval funds in the new regulatory environment, on the NSAM Q2 2016 conference call:

“Our current products are implementing share classes well-suited for RIAs and wirehouses. We have already made progress on a number of significant relationships in these areas. We are also quickly developing additional products that will have structures that are well-suited to this channel, and we’ll leverage our internal capabilities, like the potential interval fund with Townsend.

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