Financials

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.

Tracking The Universe of Interval Funds

A common complaint is the lack of data on interval funds.  Consequently broker-dealers and RIAs never take the first step to invest.  Interval Fund Tracker is building tools to bridge this knowledge gap. The Active Funds page contains a sortable and searchable directory of currently active publicly registered closed-end interval funds. More tools for interval fund managers and investors are in beta mode. Here is a preview of the ten largest active interval funds based on net assets:

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.