<div data-react-class="Funds/List" data-react-props="{"initial_funds":[{"id":493,"name":"1WS Credit Income Fund","ticker":"OWSCX","initial_filling":"2018-08-10","effect":"2019-01-30","stage":"Active","sec_time_to_effective":"","class_name":"Class 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Counsel: Kramer Levin Naftalis \u0026amp; Frankel LLP\u003c/p\u003e\u003cp\u003ePublic Accounting Firm: Grant Thornton LLP\u003c/p\u003e\u003cp\u003eDistributor: Breakwater Group Distribution Services, L.L.C.\u003c/p\u003e\u003cp\u003eCustodian: The Bank of New York Mellon\u003c/p\u003e\u003cp\u003eTransfer Agent: BNY Mellon Investment Servicing (US) Inc.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 0px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 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124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"1ws-credit-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6092,"as_of_date":"2022-07-31","amount":"165155418.0","fund_id":493},"one_year_return":null,"current_yield":5.93,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":502,"name":"361 Social Infrastructure Fund","ticker":"SIIFX","initial_filling":"2019-10-03","effect":null,"stage":"Deregistered","sec_time_to_effective":"","class_name":"Class I","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Infrastructure","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001785151/000139834419022934/fp0048804_n2a.htm","prospectus_date":"2019-12-23","advisor":"361 Infrastructure Partners, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":25000,"min_follow_on_investment":"$1000","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"0%","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"0%","annual_management_fee":"1.25%","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the fund's prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eThe Fund\u003c/b\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e361 Social Infrastructure Fund (the “Fund”) is a newly organized, non-diversified, closed-end management investment company and is operated as an “interval fund.”\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund’s investment objective is to provide alternative income uncorrelated to public markets. The Fund’s investment objective is not fundamental and may be changed by the Fund’s Board of Trustees (the “Board” or the “Board of Trustees”) without the approval of the holders of a majority of the outstanding Common Shares or preferred shares, if any.\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eInvestment Strategies\u003c/b\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eUnder normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of borrowings for investment purposes, in debt securities of special-purpose vehicles (“SPVs”) or other entities that will acquire, install, maintain and manage essential facility infrastructure assets. “Essential facility infrastructure assets” are assets that perform essential services and are depreciable personal property and include, but are not limited to, heating, ventilation and air conditioning systems (HVAC), roofing systems, windows, lighting, water pumps, escalators and elevators, motors and compressors, boilers, turbines and related equipment. The debt securities in which the Fund will invest will be issued by SPVs designed to procure essential facility infrastructure assets to replace or upgrade facilities primarily in the social infrastructure sector. The social infrastructure sector includes entities that support social services including federal, state and local municipalities, educational and healthcare facilities, housing facilities, water and other public utilities, social services and human service providers, civic facilities and other long-lived entities (“End Users”). When the Fund is unable to find attractive investment opportunities or in order to maintain liquidity to fund repurchase offers, the Fund may invest in other securities including securities of other investment companies, including exchange-traded funds, real estate investment trusts (“REITs”) or other similar securities that provide exposure to alternative asset classes, as well as money market instruments and high-quality short-term debt securities.\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eSpecial-Purpose Vehicles\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund will invest primarily in debt securities issued by SPVs sponsored by Sustainability Partners LLC (“Sustainability Partners”) or an affiliate of Sustainability Partners. The Fund will invest in securities of SPVs or similar entities sponsored by other parties if Sustainability Partners does not have an adequate pipeline of investment opportunities that meet the Fund’s investment criteria or as necessary to meet investment limitations and restrictions. Sustainability Partners has developed a unique utility-based business model. Under this business model, SPVs sponsored by Sustainability Partners will acquire, install, maintain and manage essential facility infrastructure assets on the premises of End Users in return for payments under a services agreement. The SPV for a particular project will own all infrastructure assets installed and maintained on the premises of the End User for that project and will receive all usage and other fees pursuant to one or more service agreements with End Users. Sustainability Partners seeks End Users primarily in the social infrastructure sector. Sustainability Partners and/or one of its affiliates will receive an asset servicing fee from the SPV in exchange for conducting the day-to-day operations of the SPVs, including developing and negotiating customer contracts, monitoring, managing, servicing and fulfilling customer contracts, acquiring, monitoring and managing infrastructure assets and providing other services.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eDebt Securities\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund will invest in debt securities issued by SPVs that install, maintain and service essential facility infrastructure assets. Such securities may have fixed or floating rates of interest and may be senior in the capital structure or may be subordinated to other types of debt, such as a bank line of credit. Senior debt securities of the SPVs are expected to be secured by the revenues or assets of the SPV. Payments of principal and interest on debt securities issued by such SPVs are supported solely by the assets owned by a particular SPV; holders of debt securities do not have recourse against the entity sponsoring the SPV or against other SPVs organized by the same sponsor.\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003eDebt securities of SPVs of the types in which the Fund intends to invest are issued in private placements to a limited number of institutional investors and are not tradeable in a secondary market. The Fund may hold all or a significant portion of a particular tranche of debt securities. No trading market is expected to develop for such securities and the ability of the Fund to transfer such securities to a third party may be limited.\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe debt securities of SPVs in which the Fund intends to invest are not expected to be rated by a rating agency. However, End Users are expected to have rated securities or to otherwise provide financial or other information upon which an investor in the SPV can base a credit assessment.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eInvestments in Other Investment Companies\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund may invest in the securities of other investment companies, which can include open-end funds, closed-end funds and unit investment trusts that invest in infrastructure assets or other alternative asset classes. The Fund may also invest in ETFs, which are typically open-end funds or unit investment trusts listed on a stock exchange. As a shareholder of an investment company, the Fund would be subject to its ratable share of that investment company’s expenses, including its advisory and administration expenses. Absent SEC exemptive or similar relief, the Fund’s investments in the securities of other investment companies are subject to the limits that apply to those types of investments under the 1940 Act.\u003c/span\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eTemporary Investments and Defensive Investments\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund typically invests available cash in money market funds, short-term U.S. government securities, money market instruments or shares of U.S. dollar denominated money market funds, which are a type of investment company. An investment in a money market fund is not a deposit of any bank and is not insured or guaranteed by the FDIC or any other government agency. Certain money market funds seek to preserve the value of their shares at $1.00 per share, although there can be no assurance that they will do so, and it is possible to lose money by investing in such a money market fund. Investments in money market funds are also subject to the risks of investing in other investment companies.\u003c/span\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 598.6666259765625px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"361-social-infrastructure-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":441,"name":"A3 Alternative Income Fund","ticker":"AAACX","initial_filling":"2019-06-04","effect":"2019-09-12","stage":"Active","sec_time_to_effective":"","class_name":"Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Credit","latest_prospectus":"","prospectus_date":null,"advisor":"","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":"7.81","api_key_id":null,"description":"","initial":true,"slug":"a3-alternative-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6119,"as_of_date":"2022-06-30","amount":"7523080.33","fund_id":441},"one_year_return":null,"current_yield":2.21,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":63,"name":"ACAP Strategic Fund","ticker":"XCAPX","initial_filling":"2009-07-17","effect":"2009-12-31","stage":"Active","sec_time_to_effective":"167 Days","class_name":"Class W","net_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001467631/000114554921049412/xslFormNPORT-P_X01/primary_doc.xml","total_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001467631/000114554921049412/xslFormNPORT-P_X01/primary_doc.xml","category":"Equity","strategy":"Public Securities","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001467631/000120677421000120/acap3850591-n2.htm","prospectus_date":"2021-01-20","advisor":"SilverBay Capital Management LLC","sub_advisor_1":"None","sub_advisor_2":"None","min_initial_investment":50000,"min_follow_on_investment":"$5,000.00 ","max_offering_size":6000000000,"repurchase_amount":"5% - 25%","repurchase_frequency":"Quarterly","max_total_sales_load":"3.00%","max_commissions":"","distribution_fee":"","shareholder_servicing":"0.75%","annual_management_fee":"1.50%","management_fee_num":"1.50","management_fee_calc_on":"Daily Net Assets","repurchase_fee":"0","incentive_fee":"20% of Net Profits, Less Carryforward Account Balance","incentive_fee_num":"20.00%","incentive_fee_benchmark":"","distributor":"Breakwater Group Distribution Services, L.L.C.","administrator":"BNY Mellon Investment Servicing (US) Inc. ","custodian":"The Bank of New York Mellon","legal_counsel":"Kramer Levin Naftalis \u0026 Frankel LLP","public_accounting_firm":"Grant Thornton LLP","transfer_agent":"BNY Mellon Investment Servicing (US) Inc. ","bloomberg_link":"https://www.bloomberg.com/quote/XCAPX:US","nav_share":"26.29","api_key_id":null,"description":"\u003ch3 style=\"text-align: left;\"\u003e\u003cp\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eACAP Strategic Fund (the “Fund”) is a Delaware statutory trust that is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a closed-end management investment company. The Fund operates as a diversified investment company and as an interval fund under Rule 23c-3 of the 1940 Act and, as such, offers to repurchase between 5% - 25% of its outstanding shares at their net asset value as of or prior to the end of each fiscal quarter. SilverBay Capital Management LLC serves as the investment adviser of the Fund (the “Adviser”).\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Objective: \u003c/b\u003eThe Fund’s investment objective is to achieve maximum capital appreciation. There can be no assurance that the fund will achieve its investment objective.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003ePrincipal Investment Strategies: \u003c/b\u003eThe Fund pursues its objective by investing its assets primarily in publicly-traded equity securities of U.S. and foreign companies that the Adviser believes are well positioned to benefit from demand for their products or services, including companies that can innovate or grow rapidly relative to their peers in their markets. The Fund also pursues its objective by effecting short sales of securities when the Adviser believes that the market price of a security is above its estimated intrinsic or fundamental value. The Fund may also borrow money for investment purposes, i.e., leverage its assets. The Fund may also generate leverage through engaging in securities lending. Short sales, swaps and the use of leverage (either directly or through securities lending) are speculative investment practices and involve a high degree of risk.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eAdvisor\u003c/b\u003e: SilverBay Capital Management LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eSub-advisor\u003c/b\u003e: None\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eAdministrator\u003c/b\u003e: BNY Mellon Investment Servicing (US) Inc.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eLegal Counsel\u003c/b\u003e: Kramer Levin Naftalis \u0026amp; Frankel LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003ePublic Accounting Firm\u003c/b\u003e: Grant Thornton LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eDistributor\u003c/b\u003e: Breakwater Group Distribution Services, L.L.C.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eCustodian\u003c/b\u003e: The Bank of New York Mellon\u003c/p\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eTransfer Agent\u003c/b\u003e: BNY Mellon Investment Servicing (US) Inc.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003c/h3\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 473px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"acap-strategic-fund","holding_percentages":[{"name":"Dreyfus Treasury \u0026 Agency Cash Management, Institutional","percentage":"3.8297251029"},{"name":"JD.com Inc","percentage":"2.1342193827"},{"name":"Bilibili Inc","percentage":"2.0904429299"},{"name":"Alibaba Group Holding Ltd","percentage":"2.0267338045"},{"name":"NetEase, Inc.","percentage":"0.3858024726"},{"name":"USD / BRL, 06/18/2021, $5.70","percentage":"0.1118244963"},{"name":"USD / BRL, 5/14/2021, $5.85","percentage":"0.01442866"},{"name":"USD / CNH, 06/18/2021, $7.25","percentage":"0.0046853639"},{"name":"USD / CNH, 08/20/2021, $7.25","percentage":"0.0031246362"},{"name":"USD / CNH, 06/18/2021, $7.25","percentage":"0.0026773508"}],"last_net_asset":11173219175,"last_total_asset":{"id":5982,"as_of_date":"2022-06-30","amount":"11777722778.2","fund_id":63},"one_year_return":35.4,"current_yield":1.67,"total_return_gross":1.06,"expense_ratio":13.41,"total_return":2.05,"current_yield_percentage":1.05,"redemption_fee":null,"twelve_b_one_fee":0.75,"expense_ratio_gross":13.41,"expense_ratio_net":13.41,"current_yield_over_time":1.05,"distribution_paid":1.06,"growth_expense_ratio":null,"total_return_class_level":3.33,"expense_ratio_class":null,"aum_growth":1.05,"fund_flow_qoq":1.05,"total_issues":"1.05","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"Annually","distribution_frequency_number_yearly":"1","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":290,"name":"AFA Multi-Manager Credit Fund","ticker":"AMCLX","initial_filling":"2021-02-04","effect":"2021-05-25","stage":"Active","sec_time_to_effective":"80 Days","class_name":"Institutional Class Shares","net_asset_source_link":"","total_asset_source_link":"","category":"CREDIT","strategy":"ALTERNATIVES","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001843499/000139834421012138/fp0065821_424b3.htm","prospectus_date":"2021-05-27","advisor":"Alternative Fund Advisors, LLC","sub_advisor_1":"Aon Investments USA Inc","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5%","repurchase_frequency":"Quarterly","max_total_sales_load":"0%","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"0%","annual_management_fee":"1.1%","management_fee_num":"1.10","management_fee_calc_on":"Net Assets","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Foreside Fund Services, LLC","administrator":"UMB Fund Services, Inc.","custodian":"UMB Bank, N.A.","legal_counsel":"Faegre Drinker Biddle \u0026 Reath, LLP","public_accounting_firm":"Cohen \u0026 Company, Ltd.","transfer_agent":"UMB Fund Services, Inc.","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003e\u003ci\u003eFrom the fund's prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003eThe Fund:\u0026nbsp;\u003c/i\u003e\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eAFA Multi-Manager Credit Fund (the “Fund”) is a closed-end management investment company registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), and organized as a Delaware statutory trust on January 27, 2021. Alternative Fund Advisors, LLC serves as the investment adviser (“AFA” or the “Investment Manager”) of the Fund. Aon Investments USA Inc. serves as sub-adviser to the Fund (“Aon Investments” or the “Sub-Adviser” and, together with the Investment Manager, the “Advisers”). The Investment Manager provides day-to-day investment management services to the Fund. The Fund is non- diversified, which means that under the Investment Company Act, it is not limited in the percentage of its assets that it may invest in any single issuer of securities. \u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003ci\u003eThe Fund is an appropriate investment only for those investors who can tolerate a high degree of risk and do not require a liquid investment.\u003c/i\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003eInvestment Objectives and Strategies:\u0026nbsp;\u003c/i\u003e\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund’s primary investment objective is to provide a high level of current income, with capital appreciation as a secondary objective. The Fund seeks to achieve its investment objectives by investing at least 80% of its net assets including any borrowings for investment purposes, either directly or indirectly, in a range of private and public credit securities and other credit-related investments.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund operates as a “fund of funds” whereby the Fund’s assets are allocated, in percentages determined at the discretion of the Investment Manager, among a range of investment vehicles (“Underlying Funds”) that are managed by a select group of experienced institutional managers (“Underlying Managers”) chosen for their expertise in implementing various credit strategies. Up to 100% of the Underlying Funds may be private investment funds that are not registered under the Investment Company Act. Shareholders will indirectly bear a portion of the asset-based fees and other expenses incurred by the Fund as an investor in the Underlying Funds. For either investment or hedging purposes, certain Underlying Funds may engage in short sales and/or invest in derivative instruments, such as options, futures and forward currency contracts. In addition, the Fund may access Underlying Managers indirectly through structured notes, swaps or other derivative instruments paying a return linked to the performance of an Underlying Fund.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eUnderlying Managers are permitted to invest in a wide range of instruments and markets on a worldwide basis, including but not limited to private and public credit instruments and derivative contracts, asset backed and structured credit agreements and other credit-related securities. The Fund will generally allocate more than 80% of its assets across multiple Underlying Managers who employ one or more of the following credit strategies: direct lending, structured credit, collateralized loan obligations, trade finance, real estate lending, opportunistic credit, distressed lending, debtor-in-possession, specialty finance, receivables financing, royalties, litigation finance, leasing, intellectual property, bank regulatory capital relief, peer to peer and consumer lending, leveraged loans, and high yield bonds. The Fund may add or delete categories of investment strategies employed in the Fund, and one or more of the strategies described above may not be represented in the Fund at any given time.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Underlying Funds may invest in securities of any maturity and/or duration. The Underlying Funds in which the Fund invests may invest in securities of any credit quality, including securities that are rated below investment grade. Below-investment-grade securities are regarded as predominantly speculative with respect to the issuer’s capacity to pay interest and repay principal and are commonly referred to as “junk” or “high yield” securities. For certain credit strategies, including distressed lending and debtor-in-possession strategies, a substantial portion of the Underlying Funds’ assets may be invested insecurities that are unrated and/or extremely speculative and may have credit ratings as low as CCC or D. From time to time, in order to manage the Fund’s liquidity, the Fund may also invest its assets in a variety of liquid instruments such as cash, money market mutual funds, shares of other mutual funds and exchange-traded funds, U.S. government (including agency) securities, certificates of deposit, bankers’ acceptances and other bank obligations, commercial paper or other liquid debt securities.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003ch3\u003e\u003cp\u003e\u003cb\u003eAdviser\u003c/b\u003e:\u0026nbsp;Alternative Fund Advisors, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eSub-Adviser\u003c/b\u003e: Aon Investments USA Inc\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eAdministrator\u003c/b\u003e: UMB Fund Services, Inc.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eLegal Counsel\u003c/b\u003e: Faegre Drinker Biddle \u0026amp; Reath, LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.faegredrinker.com/en/professionals/d/deringer-joshua-b#!#tab-Overview?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eJoshua B. Deringer\u003c/a\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003ePublic Accounting Firm\u003c/b\u003e: Cohen \u0026amp; Company, Ltd.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eDistributor\u003c/b\u003e: Foreside Fund Services, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eCustodian\u003c/b\u003e: UMB Bank, N.A.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eTransfer Agent\u003c/b\u003e: UMB Fund Services, Inc.\u003c/p\u003e\u003c/h3\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 368px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"afa-multi-manager-credit-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6139,"as_of_date":"2022-07-31","amount":"44798321.3","fund_id":290},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":0.25,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":2.98,"expense_ratio_net_class":1.67,"distribution_frequency":"Quarterly","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":547,"name":"AL Venture Fund LLC","ticker":"Not Available","initial_filling":"2021-05-03","effect":null,"stage":"Recently Filed","sec_time_to_effective":"","class_name":"Units of LLC Interests","net_asset_source_link":"","total_asset_source_link":"","category":"Venture Capital","strategy":"Venture Capital","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001858660/000110465921059303/tm2113167d2_n2.htm","prospectus_date":"2021-05-03","advisor":"SAX Capital LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":2500,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0.25%","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"2% within 365 days, 0% otherwise","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp\u003eAL Venture Fund LLC (the “\u003cb\u003e\u003ci\u003eFund\u003c/i\u003e\"\u003c/b\u003e) is a recently formed Delaware limited liability company registered under the Investment Company Act of 1940...\u0026nbsp;as a non-diversified, closed-end, management investment company that is operated as an interval fund...\u0026nbsp;The Fund is designed primarily for long-term investors and not as a trading vehicle.\u003c/p\u003e\u003cp\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e. The Fund’s investment objective is capital appreciation, which is a fundamental policy of the Fund.\u003c/p\u003e\u003cp\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e. The Fund is a “fund of funds” and it seeks to achieve its investment objective primarily by investing in limited liability company and limited partnership interests of venture capital investment funds and syndicate investment vehicles (“Investment Vehicles”). The Fund will primarily target Investment Vehicles that are listed on the investment platform operated by AL Advisors Management Inc. and its affiliates. The Investment Vehicles primarily hold equity securities (e.g., common and/or preferred stock, or equity-linked securities convertible into such equity securities) in underlying private, operating, early-stage companies. It is also anticipated that the Investment Adviser may cause the Fund to purchase equity securities in Portfolio Companies directly in limited circumstances. The primary strategy of SAX Capital LLC, the Fund’s investment adviser (the “Investment Adviser”), will be to invest in Portfolio Investments selected by the Investment Adviser for the Fund and to hold such securities until a liquidity event or dissolution event with respect to such Portfolio Investment occurs. It is part of the Fund’s investment strategy not to sell securities of Portfolio Investments prior to any such liquidity event. This investment strategy is referred to as “Buy and Hold”.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 190.6666259765625px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"al-venture-fund-llc","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"1","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":369,"name":"Allianz RCM Global EcoTrends Fund","ticker":"AECCX","initial_filling":"2006-11-02","effect":"2007-01-26","stage":"Deregistered","sec_time_to_effective":"","class_name":"Class A","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"Allianz Global Investors Fund Management LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0.25","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv face=\"Times New Roman\" size=\"2\"\u003eAllianz RCM Global EcoTrends Fund (\"\u003ci\u003e\u003cb\u003eThe Fund\u003c/b\u003e\u003c/i\u003e\") is a newly organized, non-diversified, closed-end management investment company.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv face=\"Times New Roman\" size=\"2\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e:\u003c/i\u003e\u0026nbsp;The Fund’s investment objective is to seek long-term growth of capital. The Fund cannot assure you that it will achieve its investment objective.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv face=\"Times New Roman\" size=\"2\"\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies\u003c/i\u003e\u003c/b\u003e\u003ci\u003e:\u0026nbsp;\u003c/i\u003eThe Fund will pursue its investment objective by investing in a global portfolio of common stocks and other equity securities of companies that directly or indirectly have exposure to, or otherwise derive benefits from trends in, one or more of the EcoEnergy (\u003ci\u003ee.g.\u003c/i\u003e, alternative energy and energy efficiency), Pollution Control (\u003ci\u003ee.g.\u003c/i\u003e, environmental quality, waste management and recycling) and Clean Water (\u003ci\u003ee.g.\u003c/i\u003e, water treatment and supply) sectors.\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eAllianz Global Investors Fund Management LLC (the “Manager”) serves as the investment manager of the Fund. The Manager retains its affiliate, RCM Capital Management LLC (“RCM”), to manage the Fund’s portfolio and RCM, in turn, retains its affiliate, Allianz Global Investors Advisory GmbH (“AGIA” and, collectively with RCM, the “Sub-Adviser”) to conduct the day-to-day portfolio management of the Fund.\u003c/span\u003e\u003c/div\u003e\u003cdiv face=\"Times New Roman\" size=\"2\"\u003eIn selecting investments for the Fund, the Sub-Adviser applies a disciplined, bottom-up methodology utilizing a seamless global infrastructure of investment resources that include seasoned portfolio management teams, fundamental sector research and the Sub-Adviser’s proprietary global market research network (Grassroots\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eSM\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eResearch).\u003c/span\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 71.3333px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"allianz-rcm-global-ecotrends-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":5106,"as_of_date":"2008-05-31","amount":"196290784.0","fund_id":369},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":0.0,"twelve_b_one_fee":0.25,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"1","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":568,"name":"Alpha Alternative Assets Fund","ticker":"Not Available","initial_filling":"2021-10-01","effect":null,"stage":"RECENTLY FILED","sec_time_to_effective":"","class_name":"Class I","net_asset_source_link":"","total_asset_source_link":"","category":"ALTERNATIVES","strategy":"LONGEVITY","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001883728/000139834421019557/fp0069075_n2.htm","prospectus_date":null,"advisor":"Alpha Growth Management, Inc.","sub_advisor_1":"Haven Asset Management (Interval Funds) LLC","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5%","repurchase_frequency":"Quarterly","max_total_sales_load":"0%","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"0%","annual_management_fee":"1.50%","management_fee_num":"1.50","management_fee_calc_on":"Net Assets","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"ALPS Distributors, Inc.","administrator":"ALPS Fund Services Inc.","custodian":"","legal_counsel":"Thompson Hine LLP","public_accounting_firm":"","transfer_agent":"DST Systems, Inc.","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"MsoNormal\"\u003eThe Alpha Alternative Assets Fund, registered on 10/1/2021, is the first interval fund with an explicit focus on \"longevity-based assets,\" a broadly-defined range of investments related to supporting an aging population in the U.S. and globally.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eThere are more than \u003ca href=\"https://knoema.com/infographics/egyydzc/us-population-by-age-and-generation-in-2020\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e94 million Americans\u003c/a\u003e born after 1947 living in this country, and Alpha Growth PLC launched the Alpha Alternative Assets Fund to finance the immediate and future needs of this population segment, while seeking to provide current income and long-term capital appreciation to institutional investors who participate.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eThe Fund intends to concentrate more than 25% of investments in the insurance industry, primarily securitized life settlement contracts and annuities, but expects to gain exposure to senior living real estate, as well as associated private debt and private equity funds. Alpha Growth hired sub-adviser Haven Asset Management to invest in highly liquid, high yield securities along with leverage not to exceed 1/3 of the Fund's net assets plus borrowings.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eAlpha Growth PLC (\u003ca href=\"https://www.londonstockexchange.com/stock/ALGW/alpha-growth-plc/company-page\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eLON:ALGW\u003c/a\u003e) is headquartered in the United Kingdom with offices in London and Newport Beach, with over USD $300m under management.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's prospectus:\u003c/i\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eThe Fund:\u003c/i\u003e\u003c/b\u003e\u0026nbsp;Alpha Alternative Assets Fund is a continuously offered, non-diversified, closed-end management investment company. See “The Fund.” The Fund is an interval fund that will offer to make quarterly repurchases of its shares at the NAV of the applicable class of shares. See “Quarterly Repurchases of Shares.”\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Objective:\u003c/i\u003e\u003c/b\u003e\u0026nbsp;The Fund’s investment objective is current income and long-term capital appreciation.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Strategy:\u003c/i\u003e\u0026nbsp;\u003c/b\u003eThe Fund seeks to achieve its investment objective by investing primarily in “longevity-based assets.” Longevity-based assets include financial instruments across a range of asset types, qualities, and sectors that produce returns contingent upon (i) the continued aging of the U.S. and global population, and (ii) individual life expectancies within the 70+ age cohort. Specifically, longevity-based assets consist of debt securities, including whole loans and securitizations of life settlements, annuities, and pharmaceutical and medical patent royalties; preferred and common equity securities that provide exposure to longevity-based industries and sectors such as life insurance; debt and surplus notes of life insurance companies; and real estate based assets including reverse mortgages and tax liens (lending products used by homeowners as they age), real estate lending secured by senior housing, assisted living facilities, hospitals and other geriatric specific healthcare facilities.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eThe Fund may gain exposure to longevity-based assets by investing in the following types of instruments:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" width=\"100%\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd\u003e\u003c/td\u003e\u003ctd\u003e\u003ctable class=\"MsoNormalTable\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\"\u003e\r\n \u003ctbody\u003e\u003ctr\u003e\r\n \u003ctd valign=\"top\"\u003e\u003c/td\u003e\r\n \u003ctd valign=\"top\"\u003e\r\n \u003cp class=\"MsoNormal\"\u003e·\u0026nbsp;\u003c/p\u003e\r\n \u003c/td\u003e\r\n \u003ctd valign=\"top\"\u003e\r\n \u003cp class=\"MsoNormal\"\u003e \u003cb\u003eSecuritizations of life and annuity investments: \u003c/b\u003eLife settlements are sales to third parties of existing life insurance contracts for more than their cash surrender value but less than the net benefits to be paid under the policies. When the third party acquires such a contract, it pays the policy premiums in return for the expected receipt of the net benefit as the beneficiary under the policy. These policies are considered illiquid because they are bought and sold in a secondary market through life settlement agents. The Fund gains exposure to life settlement contracts through investments in securitized products, where the issuer of the security is responsible for servicing the individual contracts. Securitized annuities are sales to third parties, such as the Fund, of an interest in annuity cash flows. The underlying annuities can be either fixed, whereby the Fund receives the annuity payment on a periodic basis for a specified period of time, or life-contingent, whereby the Fund receives periodic payments for the duration of the underlying insured’s life.\u003cbr\u003e\u003cbr\u003e \u003c!--[endif]--\u003e\u003c/p\u003e\r\n \u003c/td\u003e\r\n \u003c/tr\u003e\r\n\u003c/tbody\u003e\u003c/table\u003e\r\n\r\n\r\n\r\n\u003ctable class=\"MsoNormalTable\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\"\u003e\r\n \u003ctbody\u003e\u003ctr\u003e\r\n \u003ctd valign=\"top\"\u003e\u003c/td\u003e\r\n \u003ctd valign=\"top\"\u003e\r\n \u003cp class=\"MsoNormal\"\u003e·\u003c/p\u003e\r\n \u003c/td\u003e\r\n \u003ctd valign=\"top\"\u003e\r\n \u003cp class=\"MsoNormal\"\u003e \u003cb\u003e\u0026nbsp;Real Estate: \u003c/b\u003eIncludes equity investments in legal entities (e.g., partnerships and limited liability companies) that hold underlying properties in the senior living sector. Investments may also be made in the debt, preferred equity or mortgages relating to such properties.\u003cbr\u003e\u003cbr\u003e \u003c!--[endif]--\u003e\u003c/p\u003e\r\n \u003c/td\u003e\r\n \u003c/tr\u003e\r\n\u003c/tbody\u003e\u003c/table\u003e\r\n\r\n\r\n\r\n\u003ctable class=\"MsoNormalTable\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\"\u003e\r\n \u003ctbody\u003e\u003ctr\u003e\r\n \u003ctd valign=\"top\"\u003e\u003c/td\u003e\r\n \u003ctd valign=\"top\"\u003e\r\n \u003cp class=\"MsoNormal\"\u003e·\u0026nbsp;\u003c/p\u003e\r\n \u003c/td\u003e\r\n \u003ctd valign=\"top\"\u003e\r\n \u003cp class=\"MsoNormal\"\u003e \u003cb\u003ePrivate Debt: \u003c/b\u003eIncludes loans and similar investments typically made in private companies that are negotiated directly with the borrower, including first and second lien senior secured loans, hybrid loans (i.e., a combination of senior and subordinated debt), unsecured debt, and subordinated debt. Private debt will also include alternative lending arrangements such as pre-settlement financing for individual life settlements, lending facilities to life and annuity settlement investors, and securitized royalty contracts for pharmaceuticals.\u003cbr\u003e \u003c!--[if !supportLineBreakNewLine]--\u003e\u003cbr\u003e \u003c!--[endif]--\u003e\u003c/p\u003e\r\n \u003c/td\u003e\r\n \u003c/tr\u003e\r\n\u003c/tbody\u003e\u003c/table\u003e\r\n\r\n\r\n\r\n\u003ctable class=\"MsoNormalTable\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\"\u003e\r\n \u003ctbody\u003e\u003ctr\u003e\r\n \u003ctd valign=\"top\"\u003e\u003c/td\u003e\r\n \u003ctd valign=\"top\"\u003e\r\n \u003cp class=\"MsoNormal\"\u003e·\u0026nbsp;\u003c/p\u003e\r\n \u003c/td\u003e\r\n \u003ctd valign=\"top\"\u003e\r\n \u003cp class=\"MsoNormal\"\u003e \u003cb\u003ePrivate Equity: \u003c/b\u003eIncludes investment in private equity funds, including primary interests (investments in newly established funds during initial capital raising) and secondary interests (interests in existing private equity funds that are acquired through private negotiation).\u003cbr\u003e \u003c!--[if !supportLineBreakNewLine]--\u003e\u003cbr\u003e \u003c!--[endif]--\u003e\u003c/p\u003e\r\n \u003c/td\u003e\r\n \u003c/tr\u003e\r\n\u003c/tbody\u003e\u003c/table\u003e\r\n\r\n\r\n\r\n\u003ctable class=\"MsoNormalTable\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"100%\"\u003e\r\n \u003ctbody\u003e\u003ctr\u003e\r\n \u003ctd valign=\"top\"\u003e\u003c/td\u003e\r\n \u003ctd valign=\"top\"\u003e\r\n \u003cp class=\"MsoNormal\"\u003e·\u003c/p\u003e\r\n \u003c/td\u003e\r\n \u003ctd valign=\"top\"\u003e\r\n \u003cp class=\"MsoNormal\"\u003e \u003cb\u003e\u0026nbsp;Public Securities: \u003c/b\u003eIncludes common stock and preferred stock of publicly traded companies, public debt, investments in master limited partnerships (“MLPs”), and publicly traded and non-traded business development companies (“BDCs”) and real estate investment trusts (“REITs”).\u003c/p\u003e\r\n \u003c/td\u003e\r\n \u003c/tr\u003e\r\n\u003c/tbody\u003e\u003c/table\u003e\u003c/td\u003e\u003ctd\u003e\u003cbr\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003ctable cellpadding=\"0\" cellspacing=\"0\" width=\"100%\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd\u003e\u003c/td\u003e\u003ctd\u003e\u003c/td\u003e\u003ctd\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAdviser:\u0026nbsp;\u003c/b\u003eAlpha Growth Management, Inc.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eSub-Adviser: \u003c/b\u003eHaven Asset Management (Interval Funds) LLC\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAdministrator:\u0026nbsp;\u003c/b\u003eALPS Fund Services Inc.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eLegal Counsel:\u0026nbsp;\u003c/b\u003eThompson Hine LLP\u003cbr\u003e\u003cbr\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.thompsonhine.com/professionals/Strasser-JoAnn?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eJoAnn M. Strasser\u003c/a\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eDistributor:\u0026nbsp;\u003c/b\u003eALPS Distributors, Inc.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTransfer Agent:\u0026nbsp;\u003c/b\u003eDST Systems, Inc.\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 553px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"alpha-alternative-assets-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"Quarterly","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":499,"name":"AlphaCentric Prime Meridian Income Fund","ticker":"PMIFX","initial_filling":"2017-02-13","effect":"2019-12-31","stage":"Active","sec_time_to_effective":"1051 Days","class_name":"Shares of Beneficial Interest","net_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001697196/000158064221002676/alphacentricncsrs.htm","total_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001697196/000158064221002676/alphacentricncsrs.htm","category":"Credit","strategy":"Marketplace Lending","latest_prospectus":"https://alphacentricfunds.com/funds/PrimeMeridian/prospectus.pdf","prospectus_date":"2021-09-30","advisor":"AlphaCentric Advisors LLC","sub_advisor_1":"Prime Meridian Capital Management, LLC","sub_advisor_2":"","min_initial_investment":10000,"min_follow_on_investment":"$100","max_offering_size":null,"repurchase_amount":"5% to 25%","repurchase_frequency":"Quarterly","max_total_sales_load":"0%","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"0.10%","annual_management_fee":"1.50%","management_fee_num":"1.50","management_fee_calc_on":"Net Assets","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Foreside Fund Services, LLC","administrator":"U.S. Bank Global Fund Services","custodian":"U.S. Bank, N.A.","legal_counsel":"Thompson Hine LLP","public_accounting_firm":"Deloitte \u0026 Touche LLP","transfer_agent":"U.S. Bank Global Fund Services","bloomberg_link":"","nav_share":"9.71","api_key_id":null,"description":"\u003cp class=\"\"\u003eThe AlphaCentric Prime Meridian Income Fund (the \"\u003ci style=\"font-weight: bold;\"\u003eFund\u003c/i\u003e\") was launched in 2019 to drive current income for investors through exposure to the $40 billion direct lending industry. The Fund seeks to achieve this objective by investing in loans originated via online marketplace lending platforms, with a focus on lending to consumers, small businesses, and real estate developers.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund's annualized total return since inception is sitting at 7.83% as of 9/30/21, respectable for a fund solely focused on current income. The Fund's current yield, however, is an impressive 9.27%, making it the third-highest-paying interval fund that's not in liquidation, with a 0% return of capital.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Adviser, AlphaCentric Advisors LLC, was founded in 2014 and operates out of Puerto Rico. They operate a mutual fund family focused on delivering \"alpha\" with over \u003ca href=\"https://alphacentricfunds.com/funds/all/annual_report.pdf\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e$3.6 billion under management\u003c/a\u003e as of 3/31/2021.\u003c/p\u003e\u003cp class=\"medium-insert-active\"\u003e\u003ci style=\"\"\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"medium-insert-active\"\u003e\u003ci style=\"\"\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci style=\"\"\u003eFrom the Fund's prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci style=\"\"\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003eAlphaCentric Prime Meridian Income Fund (the “Fund”) is a continuously offered, non-diversified, closedend management investment company, that is operated as an interval fund.\u003ci style=\"\"\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003eInvestment Objective:\u0026nbsp;\u003c/i\u003e\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe investment objective of the Fund is to seek current income.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003eInvestment Strategies:\u0026nbsp;\u003c/i\u003e\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund seeks to achieve its investment objective by investing, directly or indirectly, in loans to consumers,\r\nsmall- and mid-sized companies and other borrowers (including loans backed by real estate) originated through online\r\nplatforms that provide a marketplace for lending (“Marketplace Loans”). The Fund’s investments in Marketplace\r\nLoans may be made through a combination of: (i) investing in Marketplace Loans through purchases of whole loans\r\n(either individually or in aggregations) originated through a marketplace lending platform (or an affiliate of a\r\nmarketplace lending platform); (ii) investing in notes or other pass-through obligations issued by a marketplace\r\nlending platform (or an affiliate of a marketplace lending platform) representing the right to receive the principal and\r\ninterest payments on a Marketplace Loan (or fractional portions thereof) originated through the platform;\r\n(iii) purchasing asset-backed securities representing ownership in a pool of Marketplace Loans; (iv) investing in\r\nprivate investment funds that purchase Marketplace Loans; (v) acquiring an equity interest in a marketplace lending\r\nplatform (or an affiliate of a marketplace lending platform); (vi) providing loans, credit lines or other extensions of \r\ncredit to a marketplace lending platform (or an affiliate of a marketplace lending platform), which may be unsecured\r\nor hold a first priority security interest; (vii) structured finance originations, specifically investing in securitized\r\nmarketplace lending loans; and (viii) transactions that provide the Fund with investment exposure to Marketplace\r\nLoans (i.e. Marketplace Lending credit default swaps) (collectively, the “Marketplace Lending Instruments”). The\r\nFund currently anticipates that its Marketplace Loan investments will originate predominantly from lending platforms\r\nbased in the United States, a substantial portion of which will be through purchases of whole loans.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdviser: \u003c/b\u003eAlphaCentric Advisors LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eSub-Adviser: \u003c/b\u003ePrime Meridian Capital Management, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdministrator: \u003c/b\u003eU.S. Bank Global Fund Services\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eDistributor: \u003c/b\u003eForeside Fund Services, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eLegal Counsel: \u003c/b\u003eThompson Hine LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.thompsonhine.com/professionals/strasser-joann?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eJoAnn M. Strasser\u003c/a\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eCustodian: \u003c/b\u003eU.S. Bank, N.A.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePublic Accountant: \u003c/b\u003eDeloitte \u0026amp; Touche LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eTransfer Agent: \u003c/b\u003eU.S. Bank Global Fund\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eServices\u003c/span\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 167.483px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" 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Fund","ticker":"RCIAX","initial_filling":"2014-12-16","effect":"2015-04-17","stage":"Active","sec_time_to_effective":"","class_name":"Class L","net_asset_source_link":"","total_asset_source_link":"","category":"Alternatives","strategy":"Alternatives","latest_prospectus":"","prospectus_date":null,"advisor":"Resource Alternative Advisor, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0.25","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"ALPS Distributors","administrator":"ALPS Fund Services","custodian":"MUFG Union Bank, NA","legal_counsel":"","public_accounting_firm":"BBD LLP","transfer_agent":"DST Systems, Inc","bloomberg_link":"","nav_share":"10.32","api_key_id":null,"description":"\u003cp class=\"MsoNormal\"\u003eAlternative Credit Income Fund (the \"\u003cb\u003e\u003ci\u003eFund\u003c/i\u003e\u003c/b\u003e\") is a continuously offered, diversified, closed-end management investment company. The Fund is an interval fund that will offer to make quarterly repurchases of its shares at the NAV of the applicable class of shares.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003eInvestment Objective\u003c/i\u003e\u003c/b\u003e: The Fund’s investment objectives are to produce current income and achieve capital preservation with moderate volatility and low to moderate correlation to the broader equity markets. The Fund defines “moderate volatility” to mean investment returns having a level of volatility equal to or lower than the broader equity markets as reflected in the S\u0026amp;P 500 Index, a broad-based measure of the U.S. stock market. The Fund defines “low to moderate correlation to the broader equity markets” to mean investment returns having a correlation of less than one to the S\u0026amp;P 500 Index. The Adviser believes that a portfolio with moderate volatility and low to moderate correlation to the broader equity markets enhances the Fund’s appeal to investors seeking to diversify their equity investments.\u003c/p\u003e\u003cp class=\"MsoNormal medium-insert-active\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal medium-insert-active\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies\u003c/i\u003e\u003c/b\u003e: The Fund seeks to meet its investment objectives by investing in the debt of small- to middle-market companies with a focus on transactions sourced for the Fund by the Adviser, including in fixed-income oriented funds. A substantial portion of the Fund’s portfolio may consist of senior and subordinated debt, which it believes offers opportunities for moderate volatility and low to moderate correlation to the broader equity markets. The Fund’s debt investments may take the form of corporate loans or bonds, may be secured or unsecured and may, in some cases, be accompanied by warrants, options or other forms of equity participation. The Fund may also allocate capital for investment in any part of the capital structure, including distressed and more subordinated positions, where the Adviser believes the borrower and the potential investment present an opportunity for risk-adjusted income and returns. The Fund may separately purchase common or preferred equity interests. The Fund’s portfolio may include fixed-rate investments that generate absolute returns as well as floating-rate and/or senior secured investments that provide protection in rising interest rate and inflationary environments. The Fund also intends to invest in non-controlling interests in equity and junior debt tranches of collateralized debt obligations (“CDOs”), which include collateralized bond obligations (“CBOs”), collateralized loan obligations (“CLOs”) and other securitized products, that invest principally in loans and fixed-income instruments (or other instruments, including derivative instruments, with similar economic characteristics).\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 268.667px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" 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Beacon Sound Point Enhanced Income Fund","ticker":"SPEYX","initial_filling":"2018-02-09","effect":"2018-06-29","stage":null,"sec_time_to_effective":null,"class_name":"Class T","net_asset_source_link":null,"total_asset_source_link":null,"category":"Credit","strategy":"Credit","latest_prospectus":null,"prospectus_date":null,"advisor":null,"sub_advisor_1":null,"sub_advisor_2":null,"min_initial_investment":null,"min_follow_on_investment":null,"max_offering_size":null,"repurchase_amount":null,"repurchase_frequency":null,"max_total_sales_load":null,"max_commissions":null,"distribution_fee":null,"shareholder_servicing":null,"annual_management_fee":null,"management_fee_num":null,"management_fee_calc_on":null,"repurchase_fee":null,"incentive_fee":null,"incentive_fee_num":null,"incentive_fee_benchmark":null,"distributor":null,"administrator":null,"custodian":null,"legal_counsel":null,"public_accounting_firm":null,"transfer_agent":null,"bloomberg_link":null,"nav_share":null,"api_key_id":null,"description":null,"initial":true,"slug":"american-beacon-sound-point-enhanced-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":5507,"as_of_date":"2021-05-31","amount":"9581869.12","fund_id":503},"one_year_return":null,"current_yield":4.4,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":null,"expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":null,"distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":null,"estimated_value":null},{"id":305,"name":"American Real Estate Income Fund","ticker":"AREIX","initial_filling":"2011-08-15","effect":"2014-02-24","stage":"Deregistered","sec_time_to_effective":"","class_name":"Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"National Fund Advisory Services, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0.25","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp align=\"justify\" class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp align=\"justify\" class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp align=\"justify\"\u003eAmerican Realty Capital Real Estate Income Fund (\"\u003cb\u003e\u003ci\u003eThe Fund\u003c/i\u003e\u003c/b\u003e\") is a newly organized, continuously offered, non-diversified, closed-end management investment company. The Fund is an interval fund that will offer to make quarterly repurchases of shares at net asset value. See \"Quarterly Repurchases of Shares.\"\u003c/p\u003e\u003cp align=\"justify\" class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp align=\"justify\"\u003e\u003cb\u003e\u003ci\u003eInvestment Objective\u003c/i\u003e:\u003c/b\u003e\u0026nbsp;The Fund's investment objective is to seek attractive risk-adjusted returns with low to moderate volatility and low correlation to the broader markets from a concentrated real estate industry securities investment strategy with an emphasis on income generation.\u003c/p\u003e\u003cp align=\"justify\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp align=\"justify\"\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e: The Fund pursues its investment objective by investing, under normal circumstances, at least 80% of assets in real estate industry securities and invests primarily in income producing real estate industry securities. The Fund defines real estate industry securities as the common stock, preferred stock, convertible preferred stock, convertible debt, and non-convertible debt of publicly-traded and non-publicly-traded real estate investment trusts (\"REITs\"), debt securities secured by real estate and unsecured debt of non-REIT real estate industry issuers, and closed-end funds and mutual funds (\"Underlying Funds\") that invest primarily in the preceding securities. Approximately one-half of the Fund's REIT investments will be in traded securities of companies whose shares are listed on a national exchange. The balance of the Fund's REIT investments will be in non-traded, restricted securities of companies whose shares are listed on a national securities exchange and shares of companies whose shares are not listed on a national securities exchange, what the Fund defines as \"Non-listed REITs.\" The Fund invests in securities of issuers of any credit quality with market capitalization of at least $100 million.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 186px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" 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Assets","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Quasar Distributors, LLC","administrator":"U.S. Bancorp Fund Services, LLC","custodian":"U.S. Bank National Association","legal_counsel":"Dechert LLP","public_accounting_firm":"Cohen \u0026 Company, LTD.","transfer_agent":"U.S. Bancorp Fund Services, LLC","bloomberg_link":"","nav_share":"23.21","api_key_id":null,"description":"\u003cp class=\"\"\u003eThe Angel Oak Strategic Credit Fund\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003e(the “\u003c/span\u003e\u003ci style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e”)\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u0026nbsp;was launched on 12/1/2017 to generate total return by investing in a portfolio of credit-related assets, including corporate debt and preferred securities, residential mortgage-backed securities (\"RMBS\"), commercial mortgage-backed securities (\"CMBS\"), collateralized loan obligations (\"CLOs\"), and residential loans and mortgages.\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund underperformed its benchmark, the Bloomberg U.S. Aggregate Bond Index from March 2020 to January 2021, but is now posting a YTD total return of 9.85%, compared to a struggling loss of -1.58% for the index. Perhaps more interestingly, the Fund is paying a current yield of 10.62%, the second-highest current yield out of any interval fund that doesn't constitute a liquidation or any return of capital. The Fund shed about $1m AUM from April through September 2021, and is now sitting at $13.3 million under management.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eAngel Oak has offices in Georgia, New York, and Washington State, and specializes in alternative credit with over $21.8 million under management.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's Prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eThe Angel Oak Strategic Credit Fund is a Delaware statutory trust that is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a diversified, closed-end management investment company.\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/i\u003e\u003c/p\u003e\u003cdiv\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e:\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund seeks total return.\u003c/span\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e \u003c/p\u003e\u003cdiv\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e:\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eIn pursuing its investment objective, the Fund invests, under normal circumstances, at least 80% of its net assets, plus any borrowings for investment purposes, in credit-related instruments. These credit-related instruments may consist of a broad range of instruments across liquid and illiquid asset classes, including: corporate debt, with a focus on subordinated debt and senior debt of banks and diversified financial companies; agency and non-agency residential mortgage-backed securities (“RMBS”); commercial mortgage-backed securities (“CMBS”); collateralized loan obligations (“CLOs”); asset-backed securities (“ABS”); residential loans and mortgages; and municipal securities. The Fund may invest without limit in below investment grade fixed income instruments, which are commonly referred to as “junk” or “high-yield” instruments and are regarded as speculative with respect to the issuer’s ability to pay interest and repay principal. The fixed income instruments in which the Fund invests may include those of issuers from the United States and other countries. The Fund may also invest in preferred securities. Under normal circumstances, the Fund expects to concentrate its investments (\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003ei.e.\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003einvest 25% or more of its total assets (measured at the time of investment)) in residential mortgage-backed securities (agency and non-agency) and commercial mortgage-backed securities. For purposes of the Fund’s 80% investment policy, the Fund may also invest in derivative instruments that are linked to, or provide investment exposure to, credit instruments.\u003c/span\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eAdvisor: \u003c/b\u003eAngel Oak Capital Advisors, LLC\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eAdministrator:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eU.S. Bancorp Fund Services, LLC\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eDistributor:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eQuasar Distributors, LLC\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eCustodian:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eU.S. Bank National Association\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eLegal Counsel:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eDechert LLP\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.dechert.com/people/d/douglas-dick.html?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eDouglas P. Dick\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003ePublic Accounting Firm:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eCohen \u0026amp; Company, LTD.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eTransfer Agent:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eU.S. Bancorp Fund Services, LLC\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 186.181px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"angel-oak-strategic-credit-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6066,"as_of_date":"2022-07-31","amount":"88596631.26","fund_id":234},"one_year_return":null,"current_yield":7.96,"total_return_gross":null,"expense_ratio":0.76,"total_return":null,"current_yield_percentage":10.62,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":5.6,"expense_ratio_net":0.76,"current_yield_over_time":10.62,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":5.6,"expense_ratio_net_class":0.76,"distribution_frequency":"Monthly","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":296,"name":"Arca U.S. Treasury Fund","ticker":"Not Available\r\n","initial_filling":"2018-11-09","effect":"2020-07-06","stage":"Active","sec_time_to_effective":"","class_name":"Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"Zazove Associates, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003e\u003cbr\u003eThe Fund\u003c/i\u003e\u003c/b\u003e\u003ci\u003e. \u003c/i\u003eArca U.S. Treasury Fund (the “\u003cb\u003e\u003ci\u003eFund\u003c/i\u003e\u003c/b\u003e”) is a continuously offered, diversified, closed-end management investment company that intends to operate as an interval fund. For more information, see “The Fund.”\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Objective\u003c/i\u003e\u003c/b\u003e\u003ci\u003e. \u003c/i\u003eThe Fund’s investment objective is to seek maximum total return consistent with preservation of capital. There can be no assurance that the Fund will achieve its objective. The Fund’s investment objective is non-fundamental and may be changed by the Board of Trustees (the “Board”) without shareholder approval. Shareholders will, however, receive at least 60 days’ prior notice of any change to the Fund’s investment objective.\u0026nbsp;\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Strategies\u003c/i\u003e\u003c/b\u003e\u003ci\u003e. \u003c/i\u003eThe Fund will invest, under normal circumstances, at least 80% of its assets in a portfolio of U.S. Treasury securities, which include bills, bonds, and notes issued by the U.S. Treasury (“Treasury Securities”). Assets not invested in Treasury Securities may be invested in other types of investment grade fixed income instruments, including bonds, debt securities and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities. Under normal circumstances, the Fund will have maximum average portfolio duration of eight years and a dollar-weighted average portfolio maturity of between two and four years. The Fund will not invest directly or indirectly in digital assets, including digital securities.\u0026nbsp;\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 456.667px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"arca-u-s-treasury-fund","holding_percentages":[{"name":"United States Treasury Bills","percentage":"99.7704404799"},{"name":"Fidelity Institutional Cash Portfolios","percentage":"50.97581049819"}],"last_net_asset":null,"last_total_asset":{"id":6113,"as_of_date":"2022-06-30","amount":"469418.03","fund_id":296},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":0.0,"twelve_b_one_fee":0.75,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":297,"name":"Archstone Alternative Solutions Fund","ticker":"Not Available\r\n","initial_filling":"2015-03-19","effect":"2015-07-21","stage":"Deregistered","sec_time_to_effective":"","class_name":"Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"NexPoint Advisors, L.P.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0.75","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eArchstone Alternative Solutions Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a newly organized Delaware statutory trust that is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a non-diversified, closed-end management investment company.\u0026nbsp;\u003c/span\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e \u003c/p\u003e\u003cdiv\u003eThe Fund employs a “fund of funds” investment program that enables eligible investors, through one investment, to participate in the investment programs of a professionally selected diverse group of asset managers without being subject to the high minimum investment requirements that many asset managers typically impose. The Fund provides the benefits of professional selection of asset managers, professional asset allocation and the opportunity to invest with asset managers whose services may not generally be available to the investing public, whose investment funds may be closed from time to time to new investors or who otherwise may place stringent restrictions on the number and type of persons whose money they will manage. The Fund is similar to a hedge fund in that its assets are actively managed and the shares are sold solely to high net worth individuals and institutional investors, but differs from a typical hedge fund in that it permits investments in relatively modest minimum denominations and it has registered as an investment company under the 1940 Act and has registered its shares under the Securities Act of 1933.\u003c/div\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e:\u0026nbsp;The Fund’s investment objective is to achieve long-term capital appreciation while attempting to reduce volatility relative to the equity markets. In pursuing its investment objective, the Fund invests its assets primarily in a broad mix of hedge funds and other similar investment vehicles (“Portfolio Funds”) that are managed by a select group of portfolio managers (“Portfolio Managers”) that invest in a variety of financial markets and utilize a broad range of alternative investment strategies. The Fund’s hedge fund investments may primarily include offshore investment vehicles which can be disadvantageous, in some respects, to certain taxable investors\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 330.667px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"archstone-alternative-solutions-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":5158,"as_of_date":"2017-03-31","amount":"20985557.0","fund_id":297},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":0.0,"twelve_b_one_fee":0.75,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"1","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":580,"name":"ARK Venture Fund","ticker":"Not Available","initial_filling":"2022-02-03","effect":"2022-08-15","stage":"Recently Filed","sec_time_to_effective":"","class_name":"Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"EQUITIES","strategy":"VENTURE CAPITAL","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/1905088/000110465922011382/tm225314d1_n2.htm","prospectus_date":"2022-02-03","advisor":"ARK Investment Management LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000,"min_follow_on_investment":"None","max_offering_size":null,"repurchase_amount":"5%","repurchase_frequency":"Quarterly","max_total_sales_load":"0%","max_commissions":"","distribution_fee":"Not Available","shareholder_servicing":"Not Available","annual_management_fee":"Not Available","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"\"Platform\" Not Available","administrator":"Not Available","custodian":"Not Available","legal_counsel":"Dechert LLP","public_accounting_firm":"Not Available","transfer_agent":"Not Available","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"MsoNormal\"\u003e\u003ca href=\"https://ark-invest.com/?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eARK Investment Management LLC\u003c/a\u003e registered the ARK Venture Fund (the \"Fund\") on 2/3/2022.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eThe Fund seeks to drive long-term capital growth for investors, by primarily investing in equity securities of private companies offering tech-enabled products or services that ARK believes could potentially \"change the way the world works.\" In practice, that means investing in private firms trying to innovate in fields like genomics, automation, transportation and energy, artificial intelligence, next-gen internet, and FinTech.\u003cbr\u003e \u003c!--[endif]--\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eThus, for a $1000 minimum initial investment, ARK seeks to offer retail investors what used to be the exclusive realm of private equity and venture capital firms – exposure to companies before they go public. \u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eThe Fund shares some thematic overlap with the ARK Innovation ETF (\u003ca href=\"https://www.nasdaq.com/market-activity/funds-and-etfs/arkk\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e$ARKK\u003c/a\u003e), and both are registered under the \u003ca href=\"https://www.investopedia.com/terms/i/investmentcompanyact.asp\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e'40 Act\u003c/a\u003e, but the similarities stop there.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eMost of ARK's ETFs \u003ca href=\"https://markets.businessinsider.com/news/stocks/cathie-wood-arkk-etf-ark-invest-tech-stocks-tesla-investing-2021-12\" target=\"_blank\" rel=\"noopener noreferrer\"\u003efamously had an abysmal 2021\u003c/a\u003e as investors dumped the ETFs' underlying growth tech stocks amid inflation reports, and finally began dumping the ETFs themselves. By contrast, this Fund offers two stopgap measures against sell-offs – the Fund primarily invests in companies that aren't traded on exchanges, so its underlying holdings are less immediately vulnerable to rapidly-shifting investor sentiments. And of course, because the Fund is an interval fund, it intends to offer to repurchase no more than 5% of outstanding shares on a quarterly basis.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eIf the Fund is approved by the SEC, we'll be watching to see if investors view it as a lower-volatility alternative to ETFs like \u003ca href=\"https://www.nasdaq.com/market-activity/funds-and-etfs/arkk\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e$ARKK\u003c/a\u003e, or if the prospect of limited liquidity in an ARK product after 2021 sends their dollars elsewhere.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eARK Investment Management, LLC, now based in St. Petersburg, Florida, offers 9 ETFs available in the U.S. representing – at least, as of 2/4/2022 – more than $30.6 billion in combined net assets.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003ci\u003eFrom the Fund's prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003eThe Fund: \u003c/i\u003e\u003c/b\u003eThe Fund is a Delaware statutory trust that is registered under the 1940 Act as a non-diversified, closed-end management investment company. The Fund is operated as an “interval fund.\"\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003eInvestment Objective: \u003c/i\u003e\u003c/b\u003eThe Fund's investment objective is to seek long-term growth of capital.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003eInvestment Strategies: \u003c/i\u003e\u003c/b\u003eThe fund will invest, under normal circumstances, primarily in domestic and foreign equity securities of companies that are relevant to the Fund's investment theme of disruptive innovation. The Adviser defines \"disruptive innovation\" as the introduction of a technologically enabled new product or service that potentially changes the way the world works. The Adviser believes that companies relevant to this theme are those that rely on or benefit from the development of new products or services, technological improvements and advancements in scientific research relating to the areas of genomics (\"Genomic Revolution Companies\"); innovation in automation and manufacturing (\"Automation Transformation Companies\"), transportation [and] energy (\"Energy Transformation Companies\"); artificial intelligence (\"Artificial Intelligence Companies\") and materials; the increased use of shared technology, infrastructure and services (\"Next Generation Internet Companies\"); and technologies that make financial services more efficient (\"FinTech Innovation Companies\").\u003cbr\u003e \u003c!--[endif]--\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eIn seeking to achieve its investment objective, the Fund may invest, without limit, in privately placed or restricted securities (including in Rule 144A securities, which are privately placed securities purchased by qualified institutional buyers), illiquid securities and securities in which no secondary market is readily available, including those of private companies.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eThe Adviser will select investments for the Fund that represent its highest-conviction investment ideas within the theme of disruptive innovation, as described above, in constructing the Fund's portfolio. The Adviser's process...uses both \"top down\" (thematic research sizing the potential total available market, and surfacing the prime beneficiaries) and \"bottom up\" (valuation, fundamental and quantitative measures) approaches. In both the Adviser's \"top down\" and \"bottom up\" approaches, the Adviser evaluates environmental, social and governance (\"ESG\") considerations. In its \"top down\" approach, the Adviser uses the framework of the United Nations Sustainable Development Goals to integrate ESG considerations into its research and investment process. The Adviser, however, does not use ESG considerations to limit, restrict or otherwise exclude companies or sectors from the Fund's investment universe. In its \"bottom up\" approach, the Adviser makes its investment decisions primarily based on its analysis of the potential of individual companies, while integrating ESG considerations into that process.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdviser: \u003c/b\u003eARK Investment Management LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eLegal Counsel: \u003c/b\u003eDechert LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePartners: \u003c/b\u003e\u003ca href=\"https://www.dechert.com/people/f/allison-fumai.html?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eAllison M. Fumai\u003c/a\u003e and \u003ca href=\"https://www.dechert.com/people/b/william-bielefeld.html?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eWilliam J. Bielefeld\u003c/a\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 362.6px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"ark-venture-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":null,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":534,"name":"Aspiriant Defensive Allocation Fund","ticker":"RMDFX","initial_filling":"2019-10-22","effect":null,"stage":"Active","sec_time_to_effective":"","class_name":"Common Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001783515/000139834419022802/fp0048685_n148c.htm","prospectus_date":"2021-04-10","advisor":"Aspiriant, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Monthly","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"0.35%","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the fund's prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund seeks to achieve long-term investment returns with lower risk and lower volatility than the stock market, and with relatively low correlation to stock and bond market indexes.\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eThe Fund is a “fund-of-funds” that seeks to provide an investment return that has lower volatility than traditional asset classes (i.e., public equity and investment grade bonds) by combining several non-traditional or alternative asset class exposures, including investments that focus on a specialized asset class such as long-short strategies. Non-traditional or alternative asset classes have tended over time to have a lower correlation with the broad U.S. stock and bond markets. The Fund allocates its assets among a variety of non-traditional or alternative asset classes so as to capture diversifying returns from these non-traditional or alternative sources. The Fund invests primarily in other investment companies or pooled investment vehicles (“Underlying Funds”, such as open-end and closed-end funds, exchange-traded funds, and private funds) and may, to a limited extent, invest in separately managed accounts (“SMAs”), which are private portfolios of securities for individual accounts.\u003c/p\u003e\u003cp\u003eThe Fund intends to allocate its assets among a range of investment strategies. At any point in time, the Fund’s exposures may include global equities, global fixed income, market neutral, global macro, managed futures, relative value, long/short equity, long/short debt, merger arbitrage, convertible arbitrage, security arbitrage, managed futures and other non-traditional strategies. In selecting Underlying Funds and asset class exposures, the Adviser will take asset diversification and potential volatility of return into account. The Underlying Funds include, among others, unaffiliated mutual funds, unaffiliated exchange traded funds, and unaffiliated limited partnerships, including hedge funds. The Underlying Funds may invest in derivatives (\u003ci\u003ee.g.\u003c/i\u003e, futures, forwards, options, swaps or swaptions). A derivative is a contract whose value is based on performance of an underlying financial asset, index, rate, instrument or economic measure.\u003c/p\u003e\u003cp\u003eIn seeking to achieve the Fund’s investment objective and preserve capital, the Adviser may invest a significant portion of the Fund’s net assets in cash and cash equivalents.\u003c/p\u003e\u003cp class=\"\"\u003eAt any time, investments in hedge funds will not exceed 15% of the Fund’s net assets.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"medium-insert-active\"\u003eFund may invest up to 15% of the value of its net assets in illiquid securities. Illiquid securities are securities that the Fund cannot sell or dispose of in the ordinary course of business within seven days at approximately the value at which the Fund carries the securities. These securities include restricted securities and repurchase agreements maturing in more than seven days. Restricted securities are securities that may not be sold to the public without an effective registration statement under the Securities Act of 1933 (the “1933 Act”), and thus may be sold only in privately negotiated transactions or pursuant to an exemption from registration. Certain restricted securities that may be sold to institutional investors pursuant to Rule 144A under the 1933 Act and non-exempt commercial paper may be determined to be liquid by the Adviser.\u003cbr\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 598.6666259765625px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"aspiriant-defensive-allocation-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":5.1,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"1","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":298,"name":"Astor Dynamic Credit Fund","ticker":"ACRFX","initial_filling":"2019-12-03","effect":null,"stage":"Filed - Not Yet Effective","sec_time_to_effective":"","class_name":"Common Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Credit","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001793289/000158064220000764/astordynamiccreditn2a.htm","prospectus_date":"2020-02-20","advisor":"Astor Investment Management, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"1.5%","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the fund's prospectus:\u003c/p\u003e\u003cp\u003e\u003cb\u003eThe Fund\u003c/b\u003e\u003c/p\u003e\u003cp\u003eAstor Dynamic Credit Fund (the “Fund”) is a newly organized, continuously offered, non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) that operates as an interval fund. The Fund will offer to make repurchases of at least 5% of the Fund’s outstanding shares at a price equal to net asset value (“NAV”) per share on a quarterly basis. See “\u003ci\u003eQuarterly Repurchases of Shares\u003c/i\u003e.” \u003c/p\u003e\u003cp\u003eThe Fund will acquire all of the assets and liabilities and adopt the performance history of Armory Credit Opportunity Fund (the “Predecessor Fund”) immediately prior to the Fund’s commencement of operations.\u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Objective and Policies \u003c/b\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Objective. \u003c/b\u003eThe Fund’s investment objective is to seek attractive risk-adjusted total returns.\u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Policies. \u003c/b\u003eThe Fund pursues its investment objective by investing, under normal circumstances, at least 80% of its assets (defined as net assets plus the amount of any borrowing for investment purposes) in “Credit Investments” issued by middle market companies. The Fund defines “Credit Investments” as debt investments which include originated and broadly syndicated loans, total return swaps, high yield bonds, which are commonly referred to as “junk bonds”, bank loans, and distressed debt instruments. The Fund considers originated loans to be secured and unsecured loans issued to borrowers that are consumer and commercial entities both within the U.S. and non-U.S. jurisdictions. Broadly syndicated loans are those senior, secured corporate loans that generally benefit from liens on collateral. The Fund considers middle market companies to be companies having annual earnings, before interest, taxes, depreciation and amortization (“EBITDA”) of between $10 million and\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003e$200 million, generally with less than $2 billion of debt outstanding and issue sizes ranging from $200 million to $1 billion.\u003c/span\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 532px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"astor-dynamic-credit-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":236,"name":"Axonic Alternative Income Fund","ticker":"AAIDX","initial_filling":"2018-10-05","effect":"2018-12-21","stage":"Active","sec_time_to_effective":"","class_name":"Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"Structured Credit","strategy":"Structured Credit","latest_prospectus":"","prospectus_date":null,"advisor":"Axonic Capital LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":50000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0","annual_management_fee":"","management_fee_num":"1.25%","management_fee_calc_on":"Daily Net Assets","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"ALPS Distributors, Inc.","administrator":"ALPS Fund Services, Inc.","custodian":"BNY MELLON CAPITAL MARKETS, LLC","legal_counsel":"","public_accounting_firm":"Cohen \u0026 Co Ltd","transfer_agent":"DST Systems, Inc.","bloomberg_link":"","nav_share":"22.06","api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003eThe Axonic Alternative Income Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a newly organized Delaware statutory trust that is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a non-diversified, closed-end management investment company.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cdiv\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e:\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund seeks total return.\u003c/span\u003e\u003c/div\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cdiv\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e:\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eIn pursuing its investment objective, the Fund invests primarily in income-producing instruments. Such instruments may consist of: (i) mortgage-backed securities (“MBS”), including residential mortgage-backed securities (“RMBS”) and commercial mortgage-backed securities (“CMBS”); (ii) other asset-backed securities (“ABS”) and structured credit instruments, including collateralized debt obligations (“CDOs”), collateralized loan obligations (“CLOs”) and collateralized mortgage obligations (“CMOs”); (iii) whole loans and participations in whole loans, including commercial mortgage mezzanine loans and participations (“Mezzanine Loans”), whole residential and commercial mortgage loans and participations, and consumer loans and participations; and (iv) other income-producing investments, including corporate and bank-issued bonds, loans and participations.\u003c/span\u003e\u003c/div\u003e\u003c/div\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 127.333px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa 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\u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"axonic-alternative-income-fund","holding_percentages":null,"last_net_asset":15704111,"last_total_asset":{"id":6109,"as_of_date":"2022-07-31","amount":"110296658.72","fund_id":236},"one_year_return":20.26,"current_yield":2.97,"total_return_gross":null,"expense_ratio":12.06,"total_return":-8.8,"current_yield_percentage":6.14,"redemption_fee":0.0,"twelve_b_one_fee":0.0,"expense_ratio_gross":12.06,"expense_ratio_net":2.0,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":551,"name":"Basquet Global Debt Fund","ticker":"Not Available","initial_filling":"2021-05-07","effect":null,"stage":"Recently Filed","sec_time_to_effective":"","class_name":"Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"Fixed Income","strategy":"Global Debt","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001844499/000119312521153712/d148443dn2.htm","prospectus_date":"2021-05-07","advisor":"Basquet LLC","sub_advisor_1":"Valkyrie Funds LLC","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"Quarterly","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"Dechert LLP","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eFrom the fund's prospectus:\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Basquet Global Debt Fund (the “\u003c/span\u003e\u003ci style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e”) is a continuously offered, diversified, closed-end management investment company that intends to operate as an interval fund.\u003c/span\u003e\u003cbr\u003e\u003c/p\u003e\u003cp align=\"justify\"\u003e\u003cb\u003e\u003ci\u003eInvestment Objective\u003c/i\u003e\u003c/b\u003e\u003ci\u003e. \u003c/i\u003eThe Fund’s investment objective is to seek to provide current income consistent with the preservation of capital. There can be no assurance that the Fund will achieve its objective.\u0026nbsp;\u003c/p\u003e\u003cp align=\"justify\"\u003e\u003cb\u003e\u003ci\u003eInvestment Strategy\u003c/i\u003e\u003c/b\u003e\u003ci\u003e. \u003c/i\u003eThe Fund will seek to achieve its investment objective by investing (directly or indirectly), under normal circumstances, at least 80% of the Fund’s total assets in fixed income securities. The Fund primarily will invest in issuers in Developed Markets or Investment Grade Developing Markets (as defined below), whether or not denominated in the currency of such country. The Fund will invest at least 35% of its total assets in fixed income securities of issuers in the United States (“U.S.”). The Fund may invest up to 20% of its total assets in fixed income securities of issuers in Sub-Investment Grade Developing Markets (as defined below), whether or not denominated in the currency of such country...\u0026nbsp;In addition to direct investments in the foregoing instruments, the Fund may achieve its investment objective by investing in open-end funds, closed-end funds, exchange-traded funds (“ETFs”) and other investment companies to achieve these allocations.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 36px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" 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xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"basquet-global-debt-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":272,"name":"BlackRock Credit Strategies Fund","ticker":"CRDAX","initial_filling":"2018-09-21","effect":"2019-02-28","stage":"Active","sec_time_to_effective":"160 Days","class_name":"Investor A","net_asset_source_link":"https://www.blackrock.com/us/individual/products/313105/blackrock-credit-strategies-fund#/","total_asset_source_link":"https://www.blackrock.com/us/individual/products/313105/blackrock-credit-strategies-fund#/","category":"Credit","strategy":"Credit","latest_prospectus":"https://www.blackrock.com/us/individual/resources/regulatory-documents/stream-document?stream=reg\u0026product=BR-CSF-AGG\u0026shareClass=Institutional\u0026documentId=1686968%7E1689445%7E1776999%7E1728548\u0026iframeUrlOverride=%2Fus%2Findividual%2Fliterature%2Fprospectus%2Fpro-creditstrategiesfundcef.pdf","prospectus_date":"2021-07-12","advisor":"BlackRock Advisors, LLC","sub_advisor_1":"BlackRock Capital Investment Advisors, LLC","sub_advisor_2":"BlackRock International Limited","min_initial_investment":2500,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5% to 25%","repurchase_frequency":"Quarterly","max_total_sales_load":"2.50%","max_commissions":"","distribution_fee":"0.75%","shareholder_servicing":"0%","annual_management_fee":"1.21%","management_fee_num":"1.21","management_fee_calc_on":"Net Assets","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"BlackRock Investments, LLC","administrator":"BlackRock Advisors, LLC","custodian":"Bank Hapoalim B.M.","legal_counsel":"Willkie Farr \u0026 Gallagher, LLP","public_accounting_firm":"Deloitte \u0026 Touche LLP","transfer_agent":"BNY Mellon Investment Servicing (US) Inc.","bloomberg_link":"","nav_share":"10.12","api_key_id":null,"description":"\u003cp class=\"\" style=\"text-align: justify;\"\u003eThe BlackRock Credit Strategies Fund (CREDX, CRDAX) was first launched on 2/28/2019, with a second share class launched 4/1/2020. The Fund invests in fixed income, with an emphasis on public and private corporate credit, with the goal of providing high income and attractive risk-adjusted returns.\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003eWith a $2500 minimum investment for its Class A shares, CRDAX is an example of how interval funds offer unprecedented access to private market investments. The Fund's NAV had returned over 20% YTD as of 10/31/2021, with monthly distributions and a healthy YTW of 7.76% with no return of capital for the six months ended 6/30/21.\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003eBlackRock eclipsed the enormous sum of \u003ca href=\"https://www.wsj.com/articles/blackrock-now-has-close-to-10-trillion-under-management-11626259550\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e$10 trillion in managed assets\u003c/a\u003e in the summer of 2021.\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003ci\u003eFrom the Fund's Prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003eBlackRock Credit Strategies Fund (the \"\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e\") is a non-diversified, closed-end\r\nmanagement investment company and is operated as an “interval\r\nfund”\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e:\u0026nbsp;The Fund’s investment objective is to seek to provide high income\r\nand attractive risk-adjusted returns.\r\nThere can be no assurances that the Fund’s investment objective will\r\nbe achieved or that the Fund’s investment program will be successful.\r\nThe Fund is not intended as, and you should not construe it to be, a\r\ncomplete investment program. Investors should consider their\r\ninvestment goals, time horizons and risk tolerance before investing in\r\nthe Fund. The Fund’s investment objective may be changed by the\r\nFund’s Board without prior shareholder approval.\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e:\u0026nbsp;Under normal conditions, the Fund intends to invest at least 80% of\r\nits Managed Assets (as defined below) in fixed-income securities,\r\nwith an emphasis on public and private corporate credit. The Fund\r\nmay invest without limit in fixed-income securities across several\r\ninvestment sectors, including, but not limited to: fixed-income\r\nsecurities rated below investment grade, investment grade corporate\r\nbonds, fixed-income securities issued by governmental entities\r\n(including supranational entities), their agencies and instrumentalities,\r\nmezzanine investments, collateralized loan obligations, bank loans,\r\nmortgage-related and asset-backed securities and other fixed and\r\nfloating or variable rate obligations.\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cb\u003eAdviser: \u003c/b\u003eBlackRock Advisors, LLC\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cb\u003eSub-Adviser: \u003c/b\u003eBlackRock Capital Investment Advisors, LLC\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cb\u003eSub-Adviser: \u003c/b\u003eBlackRock International Limited\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cb\u003eAdministrator: \u003c/b\u003eBlackRock Advisors, LLC\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cb\u003eDistributor:\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem; text-align: left;\"\u003eBlackRock Investments, LLC\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cb\u003eCustodian:\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem; text-align: left;\"\u003eBank Hapoalim B.M.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cspan style=\"font-size: 0.875rem; text-align: left;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cspan style=\"font-size: 0.875rem; text-align: left;\"\u003e\u003cb\u003eLegal Counsel:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem; text-align: left;\"\u003eWillkie Farr \u0026amp; Gallagher, LLP\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cspan style=\"font-size: 0.875rem; text-align: left;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cspan style=\"font-size: 0.875rem; text-align: left;\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.willkie.com/professionals/g/gluck-elliot-j?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eElliot J. Gluck\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cspan style=\"font-size: 0.875rem; text-align: left;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cspan style=\"font-size: 0.875rem; text-align: left;\"\u003e\u003cb\u003eIndependent Registered Public Accounting Firm:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem; text-align: left;\"\u003eDeloitte \u0026amp; Touche LLP\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cspan style=\"font-size: 0.875rem; text-align: left;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\" style=\"text-align: justify;\"\u003e\u003cspan style=\"font-size: 0.875rem; text-align: left;\"\u003e\u003cb\u003eTransfer Agent:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem; text-align: 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Fund","ticker":"EGF","initial_filling":"2005-08-12","effect":"2005-10-31","stage":"Active","sec_time_to_effective":"","class_name":"Common Stock","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"BlackRock Advisors, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"0.85%","management_fee_num":"0.85","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"State Street Bank and Trust Company","custodian":"State Street Bank and Trust Company","legal_counsel":"Willkie Farr \u0026 Gallagher LLP","public_accounting_firm":"Deloitte \u0026 Touche LLP","transfer_agent":"Computershare Trust Company, N.A.","bloomberg_link":"","nav_share":"12.97","api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's \u003ca href=\"https://www.blackrock.com/us/individual/products/240273/blackrock-enhanced-government-fund-inc-usd-fund\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ewebsite\u003c/a\u003e:\u003c/p\u003e\u003cp\u003eThe Fund’s investment objective is to provide shareholders with current income and gains. The Fund seeks to achieve its investment objective by investing primarily in a portfolio of US Government securities and US Government Agency securities, including US Government mortgage-backed securities that pay interest in an attempt to generate current income, and by employing a strategy of writing (selling) call options on individual or baskets of US Government securities, US Government Agency securities or other debt securities held by the Fund in an attempt to generate gains from option premiums.\u003cbr\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 35.9896px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"blackrock-enhanced-government-fund","holding_percentages":[{"name":"Fannie Mae","percentage":"0.743491271943"},{"name":"Fannie Mae","percentage":"0.645412590928"},{"name":"Fannie Mae","percentage":"0.532410232143"},{"name":"Jamestown CLO Ltd","percentage":"0.445239147253"},{"name":"Fannie Mae","percentage":"0.29062144641"},{"name":"Fannie Mae","percentage":"0.152041895244"},{"name":"Fannie Mae","percentage":"0.045782978927"},{"name":"Fannie Mae","percentage":"0.027596210629"},{"name":"Government National Mortgage Association","percentage":"0.003633683964"},{"name":"MORGAN STANLEY \u0026 CO. INTERNATIONAL","percentage":"-0.0796933868"}],"last_net_asset":null,"last_total_asset":{"id":5981,"as_of_date":"2022-06-30","amount":"68464153.26","fund_id":294},"one_year_return":5.33,"current_yield":4.99,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":2.0,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":1.02,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":273,"name":"Blackstone / GSO Floating Rate Enhanced Income Fund","ticker":"BGFLX","initial_filling":"2017-06-30","effect":"2018-01-02","stage":"Active","sec_time_to_effective":"","class_name":"Class I","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Credit","latest_prospectus":"","prospectus_date":null,"advisor":"GSO / Blackstone Debt Funds Management LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0","annual_management_fee":"","management_fee_num":"0.01","management_fee_calc_on":"NAV","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Blackstone Advisory Partners L.P.","administrator":"ALPS FUND SERVICES, INC.","custodian":"The Bank of New York Mellon","legal_counsel":"","public_accounting_firm":"Deloitte \u0026 Touche LLP","transfer_agent":"DST Systems, Inc.","bloomberg_link":"","nav_share":"24.02","api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eBlackstone / GSO Floating Rate Enhanced Income Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a non-diversified, closed-end management investment company that\r\ncontinuously offers its shares (“Common Shares”) and is operated as an “interval fund.”\u0026nbsp;\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e: The Fund’s investment objective is to provide attractive current income with low sensitivity to rising interest rates. There can be no\r\nassurance that the Fund will achieve its investment objective.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e: Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in floating rate loans, notes, or bonds. “Managed\r\nAssets” means net assets plus the amount of any borrowings and the liquidation preference of any preferred shares that may be outstanding. In addition, the Fund may\r\ninvest up to 20% of its Managed Assets in each of (i) structured products (including, without limitation, the rated debt tranches of collateralized loan obligations\r\n(“CLOs”), floating rate mortgage-backed securities and credit linked notes), (ii) derivatives, including credit derivatives, (iii) warrants and equity securities that are\r\nincidental to the Fund’s purchase of floating rate instruments or acquired in connection with a reorganization of a Borrower or issuer, (iv) fixed rate instruments\r\n(including, without limitation, high yield corporate debt securities, or bonds, or U.S. government debt securities) and (v) equity investments in other investment\r\ncompanies, including exchange-traded-funds (“ETFs”).\u003cbr\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 73.3333px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"blackstone-gso-floating-rate-enhanced-income-fund","holding_percentages":[{"name":"Fidelity Treasury Portfolio","percentage":"3.147660571513"},{"name":"Pike Corp","percentage":"0.892410210984"},{"name":"Terrier Media Buyer, Inc.","percentage":"0.831407709933"},{"name":"Advisor Group Holdings, Inc.","percentage":"0.684631628981"},{"name":"Imperva, Inc.","percentage":"0.564254350587"},{"name":"Csc Holdings Llc","percentage":"0.481345750593"},{"name":"Camelot U.S. Acquisition 1 Co.","percentage":"0.352286512032"},{"name":"Quest Software US Holdings, Inc.","percentage":"0.31893961658"},{"name":"Fort Washington Clo 2019-1","percentage":"0.163442608893"},{"name":"Vero Parent, Inc.","percentage":"0.092856518961"}],"last_net_asset":306801454,"last_total_asset":{"id":6061,"as_of_date":"2022-06-30","amount":"453903058.52","fund_id":273},"one_year_return":30.08,"current_yield":9.66,"total_return_gross":null,"expense_ratio":0.03,"total_return":null,"current_yield_percentage":null,"redemption_fee":2.0,"twelve_b_one_fee":0.0,"expense_ratio_gross":2.12,"expense_ratio_net":2.96,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":244,"name":"BlueBay Destra International Event-Driven Credit Fund","ticker":"CEDIX","initial_filling":"2017-11-15","effect":"2018-05-09","stage":"Active","sec_time_to_effective":"175 Days","class_name":"Class I","net_asset_source_link":"https://www.destracapital.com/strategies/bluebay-destra-international-event-driven-credit-fund","total_asset_source_link":"https://www.destracapital.com/strategies/bluebay-destra-international-event-driven-credit-fund","category":"Credit","strategy":"Credit","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/1722837/000182912621006230/destrainter_424b3.htm","prospectus_date":"2021-07-09","advisor":"Destra Capital Advisors LLC","sub_advisor_1":"BlueBay Asset Management LLC","sub_advisor_2":"","min_initial_investment":100000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5% to 25%","repurchase_frequency":"Quarterly","max_total_sales_load":"0%","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"0%","annual_management_fee":"1.77%","management_fee_num":"1.77","management_fee_calc_on":"Daily Managed Assets","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Destra Capital Investments LLC","administrator":"UMB Fund Services Inc.","custodian":"Bank of New York Mellon","legal_counsel":"Drinker Biddle \u0026 Reath LLP","public_accounting_firm":"Cohen \u0026 Company, Ltd","transfer_agent":"UMB Fund Services, Inc","bloomberg_link":"","nav_share":"22.78","api_key_id":null,"description":"\u003cp class=\"\"\u003eThe BlueBay Destra International \u0026amp; Event-Driven Credit Fund\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003e(the “\u003c/span\u003e\u003cb style=\"font-size: 0.875rem;\"\u003eFund\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e”)\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u0026nbsp;is an interval fund that invests in a broad array of foreign and domestic credit instruments, primarily in the multi-strategy and event-driven categories, with the goal of driving total returns comprised of income and capital appreciation.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund's share classes were yielding between 6.72% and 7.43% as of 11/23/2021, and the Fund returned no capital to shareholders for the 6 months ending 3/31/2021. The Fund's share classes are also posting between a 19% and 27% trailing one-year total return, which is why Destra changed the Fund's name to include its Sub-Advisor, BlueBay Asset Management, in July 2021.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eDestra Capital, founded in Bozeman, MT in 2008, manages 8 funds of different categories and services 10 traditional closed-end funds, with over $480 million in managed assets. BlueBay has over $75 billion in managed assets.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's Prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe BlueBay Destra International \u0026amp; Event-Driven Credit Fund (the “\u003cb\u003eFund\u003c/b\u003e”) is a newly organized Delaware statutory trust that is registered under the Investment Company Act of 1940, as amended, as a non-diversified, closed-end management investment company and operates as an interval fund.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003e\u003ci\u003eInvestment Objective\u003c/i\u003e.\u003c/b\u003e The Fund’s investment objective is to provide attractive total returns, consisting of income and capital appreciation. There can be no assurance that the Fund will be able to achieve its i\u003cspan style=\"font-size: 0.875rem;\"\u003envestment objective.\u003c/span\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies\u003c/i\u003e.\u003c/b\u003e Under normal market conditions, the Fund will invest at least 80% of its assets (including borrowings for investment purposes) in credit related instruments and/or investments that have similar economic characteristics as credit related instruments that are considered by the Fund to have the potential to provide a high level of total return. Credit related instruments include bonds, debt securities and loans issued by various U.S. and non-U.S. public- or private-sector entities, derivatives and cash equivalents. The Fund will allocate its assets between two strategies: (i) Multi-Strategy International Credit and (ii) Event-Driven Credit. The Fund’s allocation to the strategies will vary from time to time, when the Advisers deem such variances appropriate from a portfolio management standpoint. The allocation to Multi-Strategy International Credit is expected to be between 0% and 100% of Fund assets. Due to the episodic nature of Event-Driven Credit opportunities, the Fund will have a varying degree of exposure to the strategy, typically expected to be between 0% and 50% of Fund assets.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eNote: the Fund's name was changed from \"Destra International \u0026amp; Event-Driven Credit Fund\" to \"BlueBay Destra International Event-Driven Credit Fund\" effective July 7, 2021.\u003c/i\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb style=\"\"\u003eAdviser: \u003c/b\u003eDestra Capital Advisors LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eSub-Adviser: \u003c/b\u003eBlueBay Asset Management LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdministrator:\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eUMB Fund Services Inc.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eDistributor:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eDestra Capital Investments LLC\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eLegal Counsel:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eDrinker Biddle \u0026amp; Reath LLP\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.faegredrinker.com/en/professionals/d/deringer-joshua-b?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eJoshua B. Deringer\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eCustodian:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eBank of New York Mellon\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003ePublic Accounting Firm:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eCohen \u0026amp; Company, Ltd\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eTransfer Agent:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eUMB Fund Services, Inc\u003c/span\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 202.17px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"destra-international-event-driven-credit-fund-9437f4a2-7af4-4ac7-bcc2-fa24e1c7a34d","holding_percentages":[{"name":"CNY FORWARD DESTRA NDF 3/17/2021 /","percentage":"1.0125169146"},{"name":"COP NDF FORWARD DES CONTRACT 02/10/2021 /","percentage":"0.854996423"},{"name":"CZK FORWARD DESTRA CONTRACT 2/10/2021 /","percentage":"0.8340069068"},{"name":"INR FORWARD DESTRA NDF 02/10/2021 /","percentage":"0.8132562474"},{"name":"IDR FORWARD DESTRA NDF 02/10/2021 /","percentage":"0.8118721665"},{"name":"BRL NDF FORWARD DES CONTRACT 2/2/2021 /","percentage":"0.461954932"},{"name":"MXN FORWARD DESTRA CONTRACT 03/17/2021 /","percentage":"-0.4871435444"},{"name":"GBP FORWARD DESTRA CONTRACT 03/17/2021 /","percentage":"-0.8531813699"},{"name":"HKD FORWARD DESTRA CONTRACT 03/17/2021 /","percentage":"-2.9579690348"},{"name":"EUR FORWARD DESTRA CONTRACT 03/17/2021 /","percentage":"-13.1118322661"}],"last_net_asset":62535362,"last_total_asset":{"id":6072,"as_of_date":"2022-06-30","amount":"56791226.58","fund_id":244},"one_year_return":27.2,"current_yield":20.04,"total_return_gross":null,"expense_ratio":2.33,"total_return":null,"current_yield_percentage":7.22,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":3.07,"expense_ratio_net":2.33,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":3.07,"expense_ratio_net_class":2.33,"distribution_frequency":"Quarterly","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":575,"name":"Bluerock High Income Institutional Credit Fund","ticker":"IIMAX","initial_filling":"2022-01-05","effect":"2022-06-21","stage":"Recently Filed","sec_time_to_effective":"","class_name":"Class A","net_asset_source_link":"","total_asset_source_link":"","category":"CREDIT","strategy":"CLO","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001892443/000139834422000142/fp0071562_n2.htm","prospectus_date":"2022-01-05","advisor":"Bluerock Credit Fund Advisor, LLC","sub_advisor_1":"WhiteStar Asset Management LLC","sub_advisor_2":"","min_initial_investment":2500,"min_follow_on_investment":"$100","max_offering_size":null,"repurchase_amount":"5% to 25%","repurchase_frequency":"Quarterly","max_total_sales_load":"5.75%","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"0.25%","annual_management_fee":"1.75%","management_fee_num":"1.75","management_fee_calc_on":"Net Assets","repurchase_fee":"0%","incentive_fee":"20% of Net Investment Income","incentive_fee_num":"20","incentive_fee_benchmark":"10% Annualized","distributor":"ALPS Distributors, Inc.","administrator":"ALPS Fund Services, Inc.","custodian":"UMB Bank, NA","legal_counsel":"Thompson Hine LLP","public_accounting_firm":"","transfer_agent":"ALPS Fund Services, Inc.","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eThe Bluerock High Income Institutional Credit Fund (the \"\u003cb\u003e\u003ci\u003eFund\u003c/i\u003e\u003c/b\u003e\"), registered on 1/5/2022, is Bluerock's latest foray into the world of interval funds.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund will attempt to generate high income, with secondary objectives of attractive, long-term risk adjusted returns and low market correlation, by investing in senior secured loans. The Fund will primarily achieve this by investing in senior, junior or equity tranches of entities that own diversified pools of senior secured loans known as Collateralized Loan Obligations (\"CLOs\"). CLO strategies featured in several of our \u003ca href=\"https://intervalfunds.org/insights/10-interval-funds-yielding-over-7-percent-with-no-return-of-capital-Q3-2021\" target=\"_blank\" rel=\"noopener noreferrer\"\u003etop-yielding interval funds\u003c/a\u003e in 2021.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eUnlike previous funds, Bluerock has hired WhiteStar Asset Management LLC as a Sub-Adviser, and charges an incentive fee of 100% of net investment income for income between 2% and 2.5% of net assets, and 20% of net investment income above 2.5% of net assets, subject to a 10% annualized benchmark.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eBluerock, based in New York, is a leading institutional alternative asset manager as well as an early mover in the interval fund space. One of their existing funds, the \u003ca href=\"https://intervalfunds.org/funds/bluerock-total-income-plus-real-estate-fund\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eBluerock Total Income+ Real Estate Fund\u003c/a\u003e, is the third-largest real estate-focused interval fund at over $2.6b in managed assets, and recently featured the highest Sharpe Ratio of all 6200+ registered '40 Act funds. Bluerock has more than $11.5b in acquired and managed assets across its product suite.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp\u003eThe Bluerock High Income Institutional Credit Fund (the “Fund”) is a continuously offered, non-diversified, closed-end management investment company that is operated as an interval fund.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003ci\u003e\u003cb\u003eInvestment Objective:\u003c/b\u003e\u003c/i\u003e The Fund’s primary investment objective is to generate high current income, while secondarily seeking attractive, long-term risk-adjusted returns, with low correlation to the broader markets.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003ci\u003e\u003cb\u003eSummary of Investment Strategy:\u003c/b\u003e\u003c/i\u003e\u0026nbsp;The Fund pursues its investment objective by investing, directly or indirectly, in senior secured loans (“Senior Secured Loans”). The Fund may purchase Senior Secured Loans directly in the primary or secondary market and will invest in them indirectly by purchasing various tranches, including senior, junior or equity tranches, of entities that own a diversified pool of Senior Secured Loans known as Collateralized Loan Obligations, or “CLOs”, (collectively with Senior Secured Loans, “Target Securities”).\u003c/p\u003e\u003cp\u003eThe Fund will generally focus its investment activities on U.S. dollar-denominated loans that (i) are broadly syndicated and made to U.S. companies, (ii) are senior in the capital structure with a priority claim on assets and cash flow of the underlying borrower, (iii) are primarily secured by first priority liens on assets of the underlying borrowers, (iv) are rated BB+ or below, known as “below investment grade” or “junk”, or are unrated, (v) are floating rate to provide some protection against rising interest rates, (vi) have loan to value ratios generally in the 40 – 60% range at origination, and (vii) in CLOs that own such loans and additionally (a) are diversified by issuer, industry and geography, (b) have senior tranches with high credit ratings in order to maximize excess spread, (c) have attractive risk-adjusted spreads, and (d) are actively managed by experienced CLO collateral managers. Securities which are “below investment grade” or “junk” are predominantly speculative in nature.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdviser: \u003c/b\u003eBluerock Credit Fund Advisor, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eSub-Adviser: \u003c/b\u003eWhiteStar Asset Management LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdministrator: \u003c/b\u003eALPS Fund Services, Inc.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eLegal Counsel: \u003c/b\u003eThompson Hine LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.thompsonhine.com/professionals/strasser-joann?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eJoAnn Strasser\u003c/a\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eDistributor: \u003c/b\u003eALPS Distributors, Inc.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eCustodian: \u003c/b\u003eUMB Bank, NA\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eTransfer Agent: \u003c/b\u003eALPS Fund Services, Inc.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 304px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton 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I","net_asset_source_link":null,"total_asset_source_link":null,"category":null,"strategy":null,"latest_prospectus":null,"prospectus_date":null,"advisor":null,"sub_advisor_1":null,"sub_advisor_2":null,"min_initial_investment":null,"min_follow_on_investment":null,"max_offering_size":null,"repurchase_amount":null,"repurchase_frequency":null,"max_total_sales_load":null,"max_commissions":null,"distribution_fee":null,"shareholder_servicing":null,"annual_management_fee":null,"management_fee_num":null,"management_fee_calc_on":null,"repurchase_fee":null,"incentive_fee":null,"incentive_fee_num":null,"incentive_fee_benchmark":null,"distributor":null,"administrator":null,"custodian":null,"legal_counsel":null,"public_accounting_firm":null,"transfer_agent":null,"bloomberg_link":null,"nav_share":null,"api_key_id":null,"description":null,"initial":true,"slug":"bluerock-institutional-high-income-credit-fund-ae510a78-8077-4201-a0f3-c918fcf9fb18","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":null,"expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":null,"distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":null,"estimated_value":null},{"id":299,"name":"Bluerock Institutional Mortgage Income Fund","ticker":"BIMLX","initial_filling":"2015-09-17","effect":null,"stage":"Recently Filed","sec_time_to_effective":"","class_name":"Class L","net_asset_source_link":"","total_asset_source_link":"","category":"Mortgage","strategy":"Loans, Bonds, and Debt","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001653241/000139834418001893/fp0030965_n2a.htm","prospectus_date":"2018-02-09","advisor":"Bluerock Credit Fund Advisor, LLC","sub_advisor_1":"RREEF America L.L.C.","sub_advisor_2":"Mercer Investment Management, Inc.","min_initial_investment":2500,"min_follow_on_investment":"$100","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"4.25%","max_commissions":"","distribution_fee":"0.25%","shareholder_servicing":"0.25%","annual_management_fee":"1.85%","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the fund's prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eThe Fund\u003c/b\u003e\u003c/p\u003e\u003cp\u003eThe Bluerock Institutional Mortgage Income Fund (the “Fund”) is a continuously offered, non-diversified, closed-end management investment company that is operated as an interval fund.\u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/p\u003e\u003cp\u003eThe Fund’s primary investment objective is to generate attractive, long-term risk-adjusted returns, with an emphasis on current income with lower volatility and lower correlation to the broader markets.\u003c/p\u003e\u003cp\u003e\u003cb\u003eSummary of Investment Strategy\u003c/b\u003e\u003c/p\u003e\u003cp\u003eThe Fund pursues its investment objective by investing in institutional private debt investments consisting of secured first and second mortgage loans, secured mezzanine loans, secured construction or transitional loans, and preferred equity investments, and in public real estate-related debt instruments and securities. The Fund intends to invest in institutional debt secured by high quality, desirable properties sponsored by experienced, financially sound borrowers, and located primarily in major and select regional markets within the United States. The Fund will seek to build a diversified portfolio of real estate debt investments based on property type, geography, sponsorship, lifecycle and capital structure.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 73.33331298828125px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"bluerock-institutional-mortgage-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":173,"name":"Bluerock Total Income (plus) Real Estate Fund","ticker":"TIPWX","initial_filling":"2012-06-01","effect":"2014-04-01","stage":"Active","sec_time_to_effective":"669 Days","class_name":"Class I","net_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001551047/000175272421191044/xslFormNPORT-P_X01/primary_doc.xml","total_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001551047/000175272421191044/xslFormNPORT-P_X01/primary_doc.xml","category":"Real Estate","strategy":"Real Estate","latest_prospectus":"https://bluerockfunds.com/wp-content/uploads/sites/2/2021/02/Bluerock-Total-Income-Real-Estate-Fund-Class-I-Prospectus.pdf","prospectus_date":"2021-02-01","advisor":"Bluerock Fund Advisor, LLC","sub_advisor_1":"Mercer","sub_advisor_2":"DWS","min_initial_investment":1000000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5%","repurchase_frequency":"Quarterly","max_total_sales_load":"0","max_commissions":"","distribution_fee":"0","shareholder_servicing":"0","annual_management_fee":"1.50%","management_fee_num":"1.50","management_fee_calc_on":"Net Assets","repurchase_fee":"0","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"ALPS Distributors, Inc.","administrator":"ALPS Fund Services, Inc.","custodian":"UMB Bank, N.A.","legal_counsel":"Thompson Hine LLP","public_accounting_firm":"BBD, LLP","transfer_agent":"DST Systems, Inc.","bloomberg_link":"https://www.bloomberg.com/quote/TIPWX:US","nav_share":"35.87","api_key_id":null,"description":"\u003cp class=\"\"\u003e\u003cb style=\"font-style: italic;\"\u003eOverview: \u003c/b\u003elaunched in 2012, the Bluerock Total Income+ Real Estate Fund is the second-largest real estate-focused interval fund at over $4.3b in managed assets, and the third-largest interval fund of any category.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund seeks to generate current income and capital appreciation, with low market correlation, by investing in a targeted combination of institutional private real estate funds and public real estate securities.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe manager, Bluerock Fund Advisor, holds over $11.5b in managed and acquired assets. The sub-advisor for institutional private real estate, Mercer, is one of the world's largest asset advisors with $15t under management and a 76-year operating history. The sub-advisor for public real estate securities, DWS, has over $800b in managed assets and a 40-year operating history.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund raised $1.5 billion in 2021, the most of any active interval fund, representing 21% of all direct industry capital placed into interval funds last year, and recently posted its 36th consecutive distribution at a 5.25% annualized yield based on NAV on the distribution date. The Fund generated the highest Sharpe Ratio of all domestic '40 Act funds both trailing 5-year and since inception.\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's Prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eTotal Income+ Mortgage Fund (the “\u003cb\u003e\u003ci\u003eFund\u003c/i\u003e\u003c/b\u003e”) is a continuously offered, non-diversified, closed-end management investment company. See \"The Fund.\" The Fund is an interval fund that provides investor liquidity by offering to make quarterly repurchases of each class of shares at that class of shares’ net asset value, which will be calculated on a daily basis.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e:\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund’s primary investment objective is to generate current income while secondarily seeking long-term capital appreciation with low to moderate volatility and low correlation to the broader markets.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cdiv\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e: The Fund pursues its investment objectives by investing, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in debt securities secured by real estate (i.e. mortgage loans that are represented by a note (the \"security\") and a security agreement in the form of a mortgage or deed of trust) (“Mortgages”). The Fund will primarily invest in residential Mortgages but may also invest in other equity and debt securities, including common stock, convertible securities, preferred securities, mortgage-backed securities,\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003ecommercial mortgages,\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eand public real estate investment trusts (\"REITs\"). The Fund may also invest in real estate-related exchange-traded funds (\"ETFs\"), mutual funds and closed-end funds.\u003c/span\u003e\u003c/div\u003e\u003cp\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eAdvisor\u003c/b\u003e: Bluerock Fund Advisor, LLC\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eSub-Advisor: \u003c/b\u003eMercer\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eSub-Advisor: \u003c/b\u003eDWS\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eAdministrator\u003c/b\u003e:\u0026nbsp;ALPS Fund Services, Inc.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eLegal Counsel\u003c/b\u003e: Thompson Hine LLP\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003ePartner\u003c/b\u003e: \u003ca href=\"https://www.thompsonhine.com/professionals/strasser-joann?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eJoAnn M. Strasser, Esq.\u003c/a\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003ePublic Accounting Firm\u003c/b\u003e: BBD, LLP\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eDistributor\u003c/b\u003e: ALPS Distributors, Inc.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eCustodian\u003c/b\u003e: UMB Bank, N.A.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eTransfer Agent\u003c/b\u003e: DST Systems, Inc.\u003c/div\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 295px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"bluerock-total-income-plus-real-estate-fund","holding_percentages":[{"name":"Prologis Targeted US Logistics Fund","percentage":"8.62"},{"name":"Brookfield Premier Real Estate Partners","percentage":"7.37"},{"name":"Freddie Mac Securitized Multifamily Notes","percentage":"6.88"},{"name":"Morgan Stanley Prime Property Fund","percentage":"6.01"},{"name":"Clarion Lion Industrial Trust","percentage":"4.37"},{"name":"Invesco U.S. Income Fund","percentage":"3.83"},{"name":"RREEF Core Plus Industrial Fund","percentage":"3.60"},{"name":"Clarion Lion Properties Fund","percentage":"3.52"},{"name":"Realterm Logistics Income Fund","percentage":"3.28"},{"name":"Ares Industrial Real Estate Fund","percentage":"3.26"}],"last_net_asset":2367648568,"last_total_asset":{"id":5993,"as_of_date":"2022-06-30","amount":"6904958725.81","fund_id":173},"one_year_return":24.56,"current_yield":5.32,"total_return_gross":24.56,"expense_ratio":1.92,"total_return":24.56,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":1.92,"current_yield_over_time":null,"distribution_paid":1.62,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":1.92,"distribution_frequency":"Quarterly","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":265,"name":"BMO LGM Frontier Markets Equity Fund","ticker":"BLGFX","initial_filling":"2013-09-05","effect":"2013-12-18","stage":"Deregistered","sec_time_to_effective":"","class_name":"Institutional","net_asset_source_link":"","total_asset_source_link":"","category":"Equities","strategy":"Emerging Markets","latest_prospectus":"","prospectus_date":null,"advisor":"BMO Asset Management Corp.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":5000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0.25","annual_management_fee":"","management_fee_num":"1.00%","management_fee_calc_on":"Average Daily Net Assets","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"BMO Investment Distributors, LLC","administrator":"BMO Asset Management Corp.","custodian":"HSBC Bank Middle East Limited (Kuwait City, Al Asimah, KW, Branch)","legal_counsel":"Stradley Ronon Stevens \u0026 Young, LLP","public_accounting_firm":"KPMG LLP","transfer_agent":"State Street Bank and Trust Company","bloomberg_link":"","nav_share":"6.38","api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eBMO LGM Frontier Markets Equity Fund (the \"\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e\") is a closed-end non-diversified management investment company. It was formed as a Delaware statutory trust on July 3, 2013, and is registered with the SEC. The Fund’s principal business is investing its assets by purchasing and selling securities on an ongoing basis.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e:\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund’s investment objective is to provide capital appreciation. The Fund’s investment objective is non-fundamental and may be changed without shareholder approval.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e:\u0026nbsp;The Fund invests at least 80% of its assets in equity securities of foreign companies located in frontier markets or whose primary business activities or principal trading markets are in frontier markets. The Fund’s sub-adviser, Lloyd George Management (Europe) Limited (LGM(E)), considers frontier markets to be those markets in any country that is included in the MSCI Frontier Markets Index, certain countries in the MSCI Emerging Markets Index, and certain other countries that are not included in those indices.\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eLGM(E) uses a “bottom-up,” research-driven approach in selecting stocks for the Fund’s portfolio based on criteria such as return on equity, liquidity, net debt, dividend yield and price-earnings ratio. This approach is complemented by a top-down screen to avoid or limit investments in countries with high risks of government expropriation of assets and high political instability risks. LGM(E) seeks to identify companies with, among other things, (1) the ability to generate return on invested capital above cost of capital, (2) prudent management that handles cash flow efficiently through reinvestment or return to shareholders, (3) low or no debt, (4) focus on domestic markets within the frontier markets country, (5) fair value with a good or at least average upside potential, (6) low risk of default, fraud or expropriation, and (7) reasonable liquidity in the context of frontier markets. To reduce risk, LGM(E) evaluates companies for corporate governance best practices and invests the Fund’s assets across different sectors, countries and regions.\u003c/span\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 316.667px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"bmo-lgm-frontier-markets-equity-fund","holding_percentages":null,"last_net_asset":3535032,"last_total_asset":{"id":5177,"as_of_date":"2021-02-28","amount":"3615153.7","fund_id":265},"one_year_return":-17.65,"current_yield":0.9,"total_return_gross":null,"expense_ratio":1.64,"total_return":null,"current_yield_percentage":null,"redemption_fee":2.0,"twelve_b_one_fee":null,"expense_ratio_gross":1.64,"expense_ratio_net":1.5,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"1","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":440,"name":"BNY Mellon Alcentra Opportunistic Global Credit Income Fund","ticker":"Not Available","initial_filling":"2021-04-01","effect":"2021-10-07","stage":"ACTIVE","sec_time_to_effective":"189 Days","class_name":"Institutional Class","net_asset_source_link":"","total_asset_source_link":"","category":"CREDIT","strategy":"LOANS, BONDS, DEBT","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001816314/000110465921124115/tm2129367d1_424b3.htm","prospectus_date":"2021-10-07","advisor":"BNY Mellon Investment Adviser, Inc.","sub_advisor_1":"Alcentra NY, LLC","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"0%","annual_management_fee":"1.25%","management_fee_num":"1.25","management_fee_calc_on":"Net Assets","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"BNY Mellon Securities Corporation","administrator":"BNY Mellon Investment Adviser, Inc.","custodian":"The Bank of New York Mellon","legal_counsel":"Proskauer Rose LLP","public_accounting_firm":"KPMG, LLP","transfer_agent":"BNY Mellon Transfer, Inc.","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"MsoNormal\"\u003e\u003ci\u003eFrom the Fund's Prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003eThe Fund:\u003c/i\u003e\u003c/b\u003e\u003cb\u003e \u003c/b\u003eBNY Mellon Alcentra Opportunistic Global Credit Income Fund, a Maryland statutory trust (the “Fund”), is a newly-organized, non-diversified, closed-end management investment company that continuously offers its common shares of beneficial interest, $0.001 par value per share (“Shares”), and is operated as an “interval fund.” The Fund has no operating history.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003eInvestment Objective:\u003c/i\u003e\u003c/b\u003e\u003cb\u003e \u003c/b\u003eThe Fund’s investment objective is to seek to provide total return consisting of high current income and capital appreciation. There is no assurance the Fund will achieve its investment objective. The Fund’s investment objective is fundamental and may not be changed without prior approval of the Fund’s shareholders. See “Investment Objective and Policies” and “Risks.”\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies and Investment Policies: \u003c/i\u003e\u003c/b\u003eUnder normal market conditions, the Fund will invest at least 80% of its Managed Assets (as defined below) in credit instruments and other investments with similar economic characteristics. Such credit instruments include: first and second lien senior secured loans; senior unsecured, mezzanine and other collateralized and uncollateralized subordinated loans; unitranche loans; corporate debt obligations other than loans; and structured products, including collateralized bond, loan and other debt obligations, structured notes and credit-linked notes. To the extent that the Fund invests in derivative instruments with economic characteristics similar to those credit instruments, the value of such investments will be included for purposes of the Fund’s 80% investment policy.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eAdviser\u003c/b\u003e: BNY Mellon Investment Adviser, Inc.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eSub-Adviser:\u003c/b\u003e Alcentra NY, LLC\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eAdministrator\u003c/b\u003e: BNY Mellon Investment Adviser, Inc.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eLegal Counsel\u003c/b\u003e: Proskauer Rose LLP\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.proskauer.com/professionals/david-stephens?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eDavid Stephens\u003c/a\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003ePublic Accounting Firm\u003c/b\u003e: KPMG, LLP\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eDistributor\u003c/b\u003e: BNY Mellon Securities Corporation\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eCustodian\u003c/b\u003e: The Bank of New York Mellon\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eTransfer Agent\u003c/b\u003e: BNY Mellon Transfer, Inc.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 571px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"bny-mellon-alcentra-opportunistic-global-credit-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6135,"as_of_date":"2022-06-30","amount":"100000.0","fund_id":440},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":2.04,"expense_ratio_net_class":2.0,"distribution_frequency":"","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":301,"name":"Bow River Capital Evergreen Fund","ticker":"EVERX","initial_filling":"2020-04-30","effect":"2020-12-28","stage":"Active","sec_time_to_effective":"","class_name":"Class I","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"NexPoint Advisors, L.P.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0.25","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eBow River Capital Evergreen Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a newly organized Delaware statutory trust that is registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), as a non-diversified, closed-end management investment company. The Fund operates as an interval fund pursuant to Rule 23c-3 of the Investment Company Act.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objectives\u003c/b\u003e\u003c/i\u003e:\u0026nbsp;The Fund’s primary investment objective will be to generate long-term capital appreciation by selecting diversified private equity investments that provide attractive risk-adjusted return potential.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e:\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund will seek to achieve its investment objective through a diversified mix of private equity, private credit, and semi-liquid or listed investments, that may include: (i) direct co-investments; (ii) secondary investments; (iii) private credit instruments; (iv) primary fund commitments; (v) direct or secondary purchases of liquid credit instruments; (vi) other liquid investments; and (vii) short-term investments, (together, the “Fund Investments”). The Fund will also seek a second level of diversification through portfolio company exposure across multiple sectors, geographies, managers and vintage years. The Fund’s aim is to achieve a stable return profile with low to moderate volatility.\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eSimultaneous with the commencement of the Fund’s operations (“Commencement of Operations”), the Bow River Capital Evergreen Private Equity Fund, LP (the “Predecessor Fund”), reorganized with and transferred substantially all its assets into the Fund. The Predecessor Fund maintains an investment objective, strategies and investment policies, guidelines and restrictions that are, in all material respects, equivalent to those of the Fund. The Fund and the Predecessor Fund share the same investment adviser and portfolio managers.\u003c/span\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 615.333px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"bow-river-capital-evergreen-private-equity-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6131,"as_of_date":"2022-06-30","amount":"253315149.86","fund_id":301},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":0.25,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"1","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":204,"name":"Broadstone Real Estate Access Fund","ticker":"BDREX","initial_filling":"2018-07-10","effect":"2018-10-01","stage":"In Liquidation","sec_time_to_effective":"","class_name":"Class W","net_asset_source_link":"","total_asset_source_link":"","category":"Real Estate","strategy":"Real Estate","latest_prospectus":"","prospectus_date":null,"advisor":"Benefit Street Partners ","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0","annual_management_fee":"","management_fee_num":"1.25%","management_fee_calc_on":"Daily Net Assets","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Daily Net Assets","administrator":"ALPS Distributors, Inc.","custodian":"UMB Bank, N.A.","legal_counsel":"Dechert LLP","public_accounting_firm":"Deloitte \u0026 Touche LLP","transfer_agent":"DST Systems, Inc.","bloomberg_link":"","nav_share":"9.5","api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eBroadstone Real Estate Access Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a continuously offered,\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003enon-diversified,\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eclosed-end\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003emanagement investment company that is operated as an interval fund. An interval fund is a type of\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eclosed-end\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003einvestment company that is required to offer to repurchase its shares from shareholders at periodic intervals, in the Fund’s case, quarterly.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003ci\u003eInvestment Objective\u003c/i\u003e\u003c/b\u003e:\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund’s investment objective is to seek to generate a return comprised of both current income and long-term capital appreciation with\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003elow-to-moderate\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003evolatility and low correlation to the broader markets. There can be no assurance that the Fund will achieve its investment objective.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e:\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eUnder normal circumstances, the Fund intends to invest at least 80% of the Fund’s net assets (plus the amount of borrowings for investment purposes) in a portfolio of institutional quality real estate and real estate-related investments, which will be comprised of the following primary asset classes: (i) commercial real estate (“CRE”) investments in commercial real estate properties (“Direct Real Estate Investments”), (ii) private equity real estate investment funds, including private equity and unregistered investment funds that principally invest, directly or indirectly, in real estate and real estate-related investments through entities that may qualify as a real estate investment trusts (“REIT”) for federal income tax purposes under the Code (“Private CRE Investment Funds”), (iii) commercial real estate-related securities, including those of publicly traded REITs, commercial mortgage-backed securities (“CMBS”), real estate operating companies (“REOCs”) and exchange-traded funds (“ETFs”) (“Publicly Traded CRE Securities”), and (iv) commercial real estate debt (“CRE Debt Investments”).\u003c/span\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 337.333px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"broadstone-real-estate-access-fund","holding_percentages":[{"name":"Fidelity Government Portfolio","percentage":"18.40288452802"},{"name":"N/A","percentage":"5.852058575221"},{"name":"N/A","percentage":"5.850942448679"},{"name":"N/A","percentage":"5.769306038438"},{"name":"N/A","percentage":"4.973879856275"},{"name":"N/A","percentage":"4.351136860471"},{"name":"N/A","percentage":"2.311273692231"},{"name":"N/A","percentage":"1.924703187749"},{"name":"The Options Clearing Corporation","percentage":"-0.14148892617"},{"name":"The Options Clearing Corporation","percentage":"-0.47962732478"}],"last_net_asset":52144625,"last_total_asset":{"id":5891,"as_of_date":"2022-03-31","amount":"5885068.81","fund_id":204},"one_year_return":6.86,"current_yield":815.55,"total_return_gross":null,"expense_ratio":4.23,"total_return":null,"current_yield_percentage":5.12,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":4.23,"expense_ratio_net":2.15,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":596,"name":"Calamos Aksia Alternative Credit Fund","ticker":"CPCMX","initial_filling":"2022-07-08","effect":null,"stage":"Initial Filing","sec_time_to_effective":"","class_name":"Class M Shares","net_asset_source_link":"","total_asset_source_link":"","category":"Alternative","strategy":"Credit","latest_prospectus":"","prospectus_date":null,"advisor":"Calamos Aksia Advisors LLC.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"Dechert LLP","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp\u003eUnder normal circumstances, the Fund will invest at least 80% of its assets (defined as net assets plus the amount of any borrowing for investment purposes) in credit-related instruments. Credit-related instruments may include the following: (a) senior secured term loans, including direct unrated private first lien and unitranche loans typically collateralized by corporate or asset-backed collateral; (b) privately originated hybrid securities (including preferred equity securities); (c) companies and/or private investment funds (private funds that are excluded from the definition of “investment company” pursuant to Sections 3(c)(1) or 3(c)(7) of the 1940 Act) that primarily hold loans or credit-like instruments, including private funds purchased on a secondary basis; (d) unlisted and listed business development companies (“BDCs”) that primarily invest in Private Credit loans; (e) privately originated unrated mezzanine and subordinated loans typically issued by companies or special purpose vehicles (“SPVs”) collateralized with corporate and asset-backed collateral; (f) middle market and broadly syndicated collateralized loan obligations (“CLOs”) and other rated notes; and (g) other investments that, as deemed by the Fund, feature significant loan-related characteristics (including, but not limited to, warehouse and backstop facilities, asset-backed securities, leases, royalties, funding agreements, litigation and other claims, insurance-related assets, equity ownership in private specialty finance companies, etc.). The Fund also may opportunistically allocate to high yield bonds (“junk bonds”), broadly syndicated levered loans and other traded credit instruments. The Fund’s investments will vary in credit quality, maturity length and duration and are unlikely to be rated by a nationally recognized statistical ratings organization (“NRSRO”). The Fund’s investments in private funds that are excluded from the definition of “investment company” pursuant to Sections 3(c)(1) or 3(c)(7) of the 1940 Act will be limited to no more than 15% of the Fund’s assets.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 0px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"calamos-aksia-alternative-credit-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":null,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":292,"name":"Calamos Hunt Alternative Income Fund","ticker":"","initial_filling":"2021-02-19","effect":null,"stage":"Recently Filed","sec_time_to_effective":"","class_name":"Class I","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"CRE \u0026 Real Asset Private Debt","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001836804/000110465921047647/tm216460d4_n2a.htm","prospectus_date":"2021-04-07","advisor":"Calamos Advisors LLC","sub_advisor_1":"Hunt Capital Management, LLC","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the fund's prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eThe Fund\u003c/b\u003e\u003c/p\u003e\u003cp\u003eThe Fund is a newly organized Delaware statutory trust that is registered under the 1940 Act as a diversified, closed-end management investment company. The Fund is operated as an “interval fund” (as defined below).\u003c/p\u003e\u003cp\u003eThe Fund offers two separate classes of Shares designated as Class A Shares and Class I Shares, each of which are offered by this prospectus. The Fund may offer additional classes of Shares in the future.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund’s investment objective is to produce current income with a secondary objective of capital appreciation. There can be no assurance that the Fund will achieve its investment objective.\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eInvestment Opportunities and Strategies\u003c/b\u003e\u003c/p\u003e\u003cp\u003eThe Fund will seek to achieve its investment objective by combining yield-oriented strategies in select CRE and real assets private debt, with a portfolio of more liquid yield strategies, including a relative value tactically managed portfolio of CEFs, which portfolio may also invest in BDCs and ETFs, as well as listed fixed income and preferred securities, to provide meaningful current income and total returns that are less correlated to traditional investments while providing liquidity and scheduled distributions. In connection with the relative value tactically managed portfolio of investment companies, the Fund will seek to purchase shares in underlying investment companies when the shares trade at an attractive discount and sell when a given share’s discount level has normalized. While numerous types of investments could be considered real assets, the Fund’s definition of “real assets” is limited to hard assets a substantial portion of the value of which comes from land, structures and equipment thereon or other real property underlying the asset. \u003c/p\u003e\u003cp\u003eUnder normal circumstances, the Fund intends to invest at least 80% of its assets in a diversified portfolio of select CRE and real assets private debt investments. Under the Fund’s select CRE debt strategy, the Fund intends to invest, directly or indirectly, primarily in mezzanine loans (including mezzanine construction loans), preferred equity and securitized CRE investments (and any securities resulting therefrom or related thereto), some of which are relatively illiquid and credit sensitive. This includes, but is not limited to, rated and unrated interests in mortgage-backed securities collateralized by CMBS, interests in individual loans secured by CRE, including subordinated interests, mezzanine loans and preferred equity. The Fund also may invest in securities resulting from CRE securitizations, including CLOs. The Fund may invest up to 25% of its assets in non-U.S. securities.\u003c/p\u003e\u003cp\u003eUnder the Fund’s select real assets private debt strategy, the Fund intends to invest, directly or indirectly, in broadly syndicated privately placed real assets-related debt investments and other syndicated private real assets-related whole loans or participated interests therein. The Fund’s CRE and real assets debt investments are expected to have a holding period by the Fund of up to five years, although the Fund’s actual hold period for any particular investment may be longer or shorter.\u003c/p\u003e\u003cp\u003eAlthough actual exposure to any given CRE or real assets debt strategy may vary over time, under normal circumstances, the remainder of the Fund will be allocated to one or more fixed income and liquid alternative yield investment strategies. These diversifying strategies will seek to generate attractive risk-adjusted returns, further enhance the portfolio’s downside protection, and improve the overall liquidity profile of the Fund. The Fund may invest in additional strategies in the future.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 598.6666259765625px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"calamos-hunt-alternative-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":542,"name":"Calamos-Avenue Opportunities Fund","ticker":"","initial_filling":"2020-05-19","effect":null,"stage":"Recently Filed","sec_time_to_effective":"","class_name":"Class I","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Debt Securities","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001812469/000110465921050813/tm2034110d5_n2a.htm#a010","prospectus_date":"2021-04-15","advisor":"Calamos Avenue Management, LLC","sub_advisor_1":"Calamos Advisors LLC","sub_advisor_2":"Avenue Capital Management II, L.P.","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Semi-annual","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the fund's prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eThe Fund\u003c/b\u003e\u003c/p\u003e\u003cp\u003eCalamos-Avenue Opportunities Fund (the “Fund”) is a recently organized Delaware statutory trust that is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a diversified, closed-end management investment company that is operated as an interval fund. The Fund is offering through this prospectus three separate classes of shares of beneficial interest (“Shares”) designated as Class A (“Class A Shares”), Class I (“Class I Shares”) and Class M (“Class M Shares”).\u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/p\u003e\u003cp\u003eThe Fund’s investment objective is to generate attractive risk-adjusted total returns, comprised of both capital appreciation and current income, by opportunistically investing in a global portfolio of distressed credit opportunities and other primarily illiquid debt instruments, complemented by liquid credit and alternative investment strategies to enhance the risk and liquidity profile of the Fund. There can be no assurance that the Fund will achieve its investment objective.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/p\u003e\u003cp\u003eThe Fund will seek to achieve its investment objective by opportunistically investing in a wide range of securities across the global credit spectrum, both within illiquid and liquid markets. The Fund will employ a value-oriented, event-driven approach to assemble a diverse portfolio of debt holdings, each with different drivers of risk and return to help mitigate overall volatility and limit the potential adverse impact of any one holding on the performance of the overall portfolio. The Fund’s flexible mandate will allow it to take advantage of compelling investment opportunities, whenever and wherever they present themselves.\u003c/p\u003e\u003cp\u003eFor instance, recent global events have fundamentally changed the current investment environment. Efforts to contain the global pandemic have caused a significant disruption to worldwide economic activity and steep declines in the valuations of certain financial assets. These developments have, in turn, created significant challenges for select corporate borrowers, particularly those with high levels of leverage. As a result, there is now a growing pipeline of highly-attractive distressed credit investments, both in the U.S. and abroad, which the Fund will seek to capitalize on opportunistically.\u003c/p\u003e\u003cp\u003eUnder normal circumstances, the Fund intends to invest the substantial majority of its assets in debt and debt related securities. The Fund will allocate its investment in credit instruments across any of the following: (a) distressed and stressed credit; (b) direct private lending (including first lien loans, second lien loans, unitranche loans and mezzanine debt); (c) special situations (including private credit investments); (d) corporate debt instruments, including broadly syndicated loans, high-yield bonds, investments in unpaid debts of bankrupt companies (“trade claims”) and investment grade bonds); and (e) hybrid securities (including convertible debt and preferred equity securities).\u003c/p\u003e\u003cp\u003eAlthough actual exposure to any given strategy may vary over time, under normal circumstances, the remainder of the Fund will be allocated to one or more liquid alternative investment strategies. These diversifying strategies will seek to generate attractive risk-adjusted returns, further enhance the portfolio’s downside protection, and improve the overall liquidity profile of the Fund.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 0px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"calamos-avenue-opportunities-fund-95783010-e473-44ba-a358-fa354ed17219","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":579,"name":"Cantor Fitzgerald Sustainable Infrastructure Fund","ticker":"CFIAX","initial_filling":"2022-01-06","effect":"2022-06-30","stage":"Recently Filed","sec_time_to_effective":"","class_name":"Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"ALTERNATIVES","strategy":"INFRASTRUCTURE","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001902944/000158064222000130/cantorintervalfund_n2.htm","prospectus_date":"2022-01-06","advisor":"Cantor Fitzgerald Investment Advisors, L.P.","sub_advisor_1":"Capital Innovations, LLC","sub_advisor_2":"","min_initial_investment":2500,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5%","repurchase_frequency":"Quarterly","max_total_sales_load":"5.75%","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"1.50%","management_fee_num":"1.50","management_fee_calc_on":"Net Assets","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"Greenberg Traurig LLP","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eCantor Fitzgerald registered the Cantor Fitzgerald Sustainable Infrastructure Fund (the \"\u003ci style=\"font-weight: bold;\"\u003eFund\u003c/i\u003e\") on 1/6/2022. The Fund marks the third-ever interval fund registered to direct investor capital into initiatives that meaningfully advance sustainable development efforts – an application for the interval fund structure that we've long maintained holds the potential to align retail-accessible investment products with the UN's \u003ca href=\"https://sdgs.un.org/goals\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eSustainable Development Goals\u003c/a\u003e (particularly Goal 7: Affordable and Clean Energy; Goal 9: Industry, Innovation and Infrastructure; Goal 11: Sustainable Cities and Communities; and Goal 13: Climate Action).\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund aims to generate attractive total return for investors, with an emphasis on current income, by investing in a portfolio of Private Investment Funds as well as public infrastructure securities. The Fund's investments will be thematically focused on \"\u003ca href=\"https://www.blackrock.com/sg/en/investment-ideas/themes/megatrends\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eMegatrends\u003c/a\u003e,\" referring to an increasingly popular phrase describing macro trends that are changing how the global economy, business, and society operate. These include shifting the global economy's \"center of gravity\" away from the US and toward China and India, a rapid doubling of the share of the world's population living in urban environments, the impact of machine learning and automation on nearly two-thirds of today's occupations, the addition of over a billion people to the global population and implications for demographics, labor, and healthcare, and finally, climate change – agricultural failure, natural disasters, energy shortages, and relocation.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eWhile the majority of asset managers tend to share lofty rhetoric about the importance of climate action, the Cantor Fitzgerald Sustainable Infrastructure Fund joins a very exclusive club of asset managers aiming to issue retail-accessible products that put meaningful climate impact in their Funds' bylaws, and have devised a mechanism to put capital to work solving global climate-related challenges.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eFittingly, Cantor has engaged friend of IntervalFunds.org,\u0026nbsp;\u003ca href=\"https://capinnovations.com/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eCapital Innovations, LLC\u003c/a\u003e to serve as Sub-Adviser to the Fund. Capital Innovations is a boutique alternative asset manager specializing in private funds dealing with investments in real estate, infrastructure, and natural resources. Since 2007 the firm has advised, managed, or co-sponsored investment programs encompassing over $9 billion in assets.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ca href=\"https://www.cantor.com/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eCantor Fitzgerald\u003c/a\u003e, founded in 1945, is a major global financial services firm. They specialize in equities, fixed income \u0026amp; currencies, investment banking, real estate, and middle market prime brokerage, and manage more than $3 billion in total assets.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003eThe Fund:\u0026nbsp;\u003c/i\u003e\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund is a non-diversified, closed-end management investment company registered as such under the 1940 Act.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003ci style=\"font-weight: bold;\"\u003eInvestment Objective: \u003c/i\u003eThe Fund's investment objective is to seek an attractive total return with an emphasis on current income.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003ci\u003eInvestment Strategies:\u0026nbsp;\u003c/i\u003e\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund pursues its investment objective by strategically investing in a portfolio of Private Investment Funds as well as a set of public infrastructure securities. Under normal circumstances, the Fund intends to invest at least 80% of its assets (net assets plus borrowings for investment purposes) in securities issued by infrastructure companies, including Private Investment Funds, secondary interests and co-investments and public infrastructure securities. The Fund intends to focus on the Megatrends. The Fund may also invest in investment grade debt securities of infrastructure companies. The Fund expects to invest primarily in both domestic and foreign (including emerging markets) securities. Potential investments include all types of equities including ADRs and GDRs of global infrastructure securities trading on U.S. and global exchanges and marketplaces. In addition, the Fund may invest in REITs. Under normal circumstances, the portion of the Fund’s investment portfolio that is allocated to securities of Private Investment Funds will likely comprise between 50% and 95% of the Fund’s portfolio. The portion of the Fund’s investment portfolio that is allocated to publicly traded securities will likely comprise between 5% and 50% of the Fund’s portfolio.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eThe Fund defines an infrastructure company as a company that derives at least 50% of its revenues or profits from, or devotes at least 50% of its assets to, the ownership, management, development, construction, renovation, enhancement, or operation of infrastructure assets or the provision of services to companies engaged in such activities. Infrastructure assets may include, among other asset types, regulated assets (such as electricity generation, transmission and distribution facilities, gas transportation and distribution systems, water distribution, and waste water collection and processing facilities), transportation assets (such as toll roads, airports, seaports, railway lines, intermodal facilities), renewable power generation (wind, solar and hydro power) and communications assets (including broadcast and wireless towers, fiber, data centers, distributed network systems and satellite networks). These assets share certain investment features that may be attractive as part of an overall diversified portfolio, including some or all of the following:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e• Provision for essential services with few substitutes that generally serve as the backbone for local, regional, and national economic and social activity.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e• Stable and predictable income and cash flow that are often inflation-linked with low return correlations to traditional asset classes.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e• Inelastic demand with strong pricing power for their use as essential assets for a functioning society.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e• Limited operating risk.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e• High operating margins and predictable maintenance capital requirements.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e• Strong competitive advantages characteristics with high barriers to entry.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eIn many cases, the rates, or the fees charged to end users, that are charged by infrastructure assets are determined by regulators, concession agreements with governments, and long-term contracts. Owners of such assets in many cases have the ability to increase such rates or fees at some level linked to inflation or economic growth. The Fund may invest in these securities directly or indirectly through investments in other investment companies, unlisted funds or ETFs.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eThe Fund will use a multi-step investment process that combines top-down geographic region and infrastructure sector allocations with bottom-up security selection focused within the Megatrends. It is the opinion of the Adviser and Sub-Adviser that such investments by the Fund will offer investors exposure that aligns with a number of the United Nation’s Sustainable Development Goals.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eDigital Transformation:\u003c/b\u003e Investments in the securities of companies that are within the communications infrastructure sector, including companies that own, operate, and develop cell tower, fiber network, satellite and data center assets. \u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eDecarbonization:\u003c/b\u003e Investments in the securities of companies that intend to enable the transition to cleaner energy sources and electrification through investment in the assets (generation, transmission, network grid, storage, smart meters, battery charging stations, among other assets) that will lead to more efficiency and lower carbon-intense power and heating. \u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eEnhancement of Aging Infrastructure Assets:\u003c/b\u003e Investments in the securities of companies that are within the midstream energy, water utilities, gas utilities and transportation infrastructure sectors that may benefit from increased investment to repair and enhance existing assets.\u0026nbsp;\u003c/p\u003e\u003cp class=\"medium-insert-active\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"medium-insert-active\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdviser: \u003c/b\u003eCantor Fitzgerald Investment Advisors, L.P.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eSub-Adviser: \u003c/b\u003eCapital Innovations, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eLegal Counsel: \u003c/b\u003eGreenberg Traurig, LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.gtlaw.com/en/professionals/d/davis-terrence-o?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eTerrence O. Davis\u003c/a\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 522.6px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"cantor-fitzgerald-sustainable-infrastructure-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":47.97,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"Monthly","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":238,"name":"Carlyle Tactical Private Credit Fund","ticker":"TAKIX","initial_filling":"2017-12-15","effect":"2018-05-31","stage":"Active","sec_time_to_effective":"167 Days","class_name":"Class I","net_asset_source_link":"https://www.carlyle.com/fund","total_asset_source_link":"https://www.carlyle.com/fund","category":"Credit","strategy":"Credit","latest_prospectus":"https://www.carlyle.com/sites/default/files/CTAC%20-%20Prospectus%206-2-21.pdf","prospectus_date":"2021-06-02","advisor":"Carlyle Global Credit Investment Management L.L.C.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":250000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5% to 25%","repurchase_frequency":"Quarterly","max_total_sales_load":"0%","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"0%","annual_management_fee":"1.33%","management_fee_num":"1.33%","management_fee_calc_on":"Net Assets","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Foreside Fund Services, LLC","administrator":"State Street Bank and Trust Company","custodian":"State Street Bank and Trust Company","legal_counsel":"Dechert LLP","public_accounting_firm":"Ernst \u0026 Young LLP","transfer_agent":"DST Systems, Inc.","bloomberg_link":"","nav_share":"9.06","api_key_id":null,"description":"\u003cp class=\"\"\u003eThe Carlyle Tactical Private Credit Fund\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003e(the “\u003c/span\u003e\u003ci style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e”)\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u0026nbsp;was launched on 5/31/2018 with the goal of producing income for investors, by investing opportunistically in private fixed-income securities and credit instruments; a type of exposure that normally would be out of reach for an unaccredited investor.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund has been successful in its mission thus far, driving current yields of up to 7.48% (their statement) or 7.13% (our calculation) as of 9/30/2021, with no return of capital. Total returns YTD range from 10.42% for Class N shares down to 5.90% for Class L shares, including sales load.\u003c/p\u003e\u003cp class=\"\"\u003eThe Adviser Carlyle manages $293 billion in assets, with 26 offices spanning five continents.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's Prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eCarlyle Tactical Private Credit Fund is a Delaware statutory trust that is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a non-diversified, closed-end management investment company that is operated as an interval fund. The Fund is offering through this prospectus five separate classes of shares of beneficial interest (“Shares”) designated as Class A (“Class A Shares”), Class I (“Class I Shares”), Class L (“Class L Shares”), Class M (“Class M Shares”) and Class Y (“Class Y Shares”). The Fund offers Class N Shares through a different prospectus. \u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e. The Fund’s investment objective is to produce current income.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies.\u003c/i\u003e\u003c/b\u003e The Fund seeks to achieve its investment objective by opportunistically allocating its assets across a wide range of credit strategies. There can be no assurance that the Fund will achieve its investment objective. Under normal circumstances, the Fund will invest at least 80% of its assets in private fixed-income securities and credit instruments (“private credit instruments”). The Fund will opportunistically allocate its investments in private credit instruments across any number of the following credit strategies: (a) liquid credit (including broadly syndicated loans); (b) direct lending (including first lien loans, second lien loans, unitranche loans and mezzanine debt); (c) opportunistic credit (including private credit solutions, special situations and market dislocations); and (d) structured credit (including collateralized loan obligations (“CLOs”)). To a lesser extent, the Fund also may invest in distressed credit. The Fund may invest in additional strategies in the future.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdviser:\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eCarlyle Global Credit Investment Management L.L.C.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eAdministrator:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eState Street Bank and Trust Company\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eDistributor:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eForeside Fund Services, LLC\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eCustodian:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eState Street Bank and Trust Company\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eLegal Counsel:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eDechert LLP\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.dechert.com/people/h/richard-horowitz.html?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eRichard Horowitz\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003ePublic Accounting Firm:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eErnst \u0026amp; Young LLP\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eTransfer Agent:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eDST Systems, Inc.\u003c/span\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 146.181px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"carlyle-tactical-private-credit-fund-c39f65ac-a065-43a1-ba1d-f6c4e0c8dde4","holding_percentages":[{"name":"Helios Buyer, Inc.","percentage":"1.832537966185"},{"name":"ACProducts, Inc.","percentage":"0.654944082419"},{"name":"Quickbase, Inc.","percentage":"0.516932293841"},{"name":"Sophia, L.P.","percentage":"0.434427857645"},{"name":"ASP Navigate Acquisition Corp","percentage":"0.433034333624"},{"name":"Sapphire Telecom, Inc.","percentage":"0.251152937199"},{"name":"Sotera Health Holdings, LLC","percentage":"0.181498863228"},{"name":"TANK HOLDINGS","percentage":"0.09597985689"},{"name":"Apptio, Inc.","percentage":"0.078218590121"},{"name":"BLP PARENT CORP","percentage":"0.003706439623"}],"last_net_asset":230351250,"last_total_asset":{"id":6081,"as_of_date":"2022-06-30","amount":"2092447914.31","fund_id":238},"one_year_return":5.48,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":7.08,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":7.08,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":4.89,"expense_ratio_net_class":4.7,"distribution_frequency":"Quarterly","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":443,"name":"CIM Real Assets \u0026 Credit Fund","ticker":"IRACX","initial_filling":"2019-02-22","effect":"2020-04-30","stage":"Active","sec_time_to_effective":"","class_name":"Class 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Ares Diversified Credit Fund","ticker":"CADUX","initial_filling":"2016-06-30","effect":"2016-12-01","stage":"Active","sec_time_to_effective":"","class_name":"Class L","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Untethered Global Credit Investments","latest_prospectus":"","prospectus_date":null,"advisor":"CION Ares Management, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0","annual_management_fee":"","management_fee_num":"1.63%","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eCION Ares Diversified Credit Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a Delaware statutory trust that is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a diversified, closed-end management investment company.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e. The Fund’s investment objective is to provide superior risk-adjusted returns across various market cycles by investing in a diversified portfolio of liquid and illiquid asset classes. The Fund seeks to capitalize on market inefficiencies and relative value opportunities throughout the entire global credit spectrum. There can be no assurance that the Fund will achieve its investment objective.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e. The Fund will invest primarily in a portfolio of directly originated loans, secured floating and fixed rate syndicated loans, corporate bonds, asset-backed securities, commercial real estate loans and other types of credit instruments, which, under normal circumstances, will represent at least 80% of the Fund’s Managed Assets (as defined in this prospectus). For purposes of this policy, “credit instruments” may include commercial real estate mezzanine loans, real estate mortgages, distressed securities, notes, bills, debentures, bank loans, convertible and preferred securities, government and municipal obligations. The Fund may also invest in foreign instruments and illiquid and restricted securities. Most of the credit instruments in which the Fund invests will be rated below investment grade by rating agencies or would be rated below investment grade if they were rated. Credit instruments that are rated below investment grade (commonly referred to as “high yield” securities or “junk bonds”) are regarded as having predominantly speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal. Because of the risks associated with investing in high yield securities, an investment in the Fund should be considered speculative. Some of the credit instruments will have no credit rating at all.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 165.333px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"cion-ares-diversified-credit-fund-76884753-e7b5-436f-9f69-a64664d2567d","holding_percentages":[{"name":"Pet IQ, LLC","percentage":"0.446100046803"},{"name":"WINDR 2018-2","percentage":"0.236386130666"},{"name":"IRB Holding Corp.","percentage":"0.159492054636"},{"name":"OMH-HealthEdge Holdings, LLC","percentage":"0.148448086127"},{"name":"Wildcat BuyerCo, Inc.","percentage":"0.112678535865"},{"name":"WSHP FC Acquisition LLC","percentage":"0.062043658712"},{"name":"Kellermeyer Bergensons Services, LLC","percentage":"0.040990038537"},{"name":"AMMC 2017-21","percentage":"0.031721537523"},{"name":"Ardonagh Midco 2 plc","percentage":"0.003366728274"},{"name":"Packers Software Intermediate Holdings, Inc.","percentage":"0.001881729822"}],"last_net_asset":956566654,"last_total_asset":{"id":6036,"as_of_date":"2022-06-30","amount":"3657847310.8","fund_id":181},"one_year_return":23.04,"current_yield":6.51,"total_return_gross":4.57,"expense_ratio":3.1,"total_return":0.05,"current_yield_percentage":0.06,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":0.03,"expense_ratio_net":3.99,"current_yield_over_time":null,"distribution_paid":1.39,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":0.04,"distribution_frequency":"","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":303,"name":"Cipher Technologies Bitcoin Fund","ticker":"Not Available","initial_filling":"2019-05-13","effect":null,"stage":"SEC Rejected","sec_time_to_effective":"","class_name":"Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"Cipher Technologies Management LP","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eCipher Technologies Bitcoin Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a newly organized, non-diversified, closed-end management investment company that continuously offers its shares (the “\u003ci style=\"\"\u003e\u003cb style=\"\"\u003eShares\u003c/b\u003e\u003c/i\u003e”) and is operated as an “interval fund.” The Fund offers one class of Shares: Initial Class.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Objectives.\u003c/i\u003e\u003c/b\u003e The Fund seeks to provide the total returns available to direct investors in bitcoins, less the operating expenses of the Fund, as a primary objective, and seeks current income as a secondary objective. No assurance can be given that the Fund’s investment objectives will be achieved, and you could lose all of your investment in the Fund.\u003c/p\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Strategy.\u003c/i\u003e\u003c/b\u003e The Fund seeks to achieve its investment objectives by (i) investing substantially all of its assets in bitcoins traded on domestic and international bitcoin trading platforms and exchanges and traded in the over-the-counter (“\u003cu\u003eOTC\u003c/u\u003e”) markets and (ii) subject to market availability and suitable liquidity, engaging in loans of portfolio bitcoins, writing covered calls on portfolio bitcoins, and utilizing bitcoin futures contracts. The Fund may also from time to time hold a portion of its portfolio in U.S. government securities, other high grade, short-term securities, shares of registered money market funds, and cash and/or cash equivalents in connection with its periodic repurchase obligations, as described below under “Interval Fund/Repurchase Offers.”\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 71.3333px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"cipher-technologies-bitcoin-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"1","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":251,"name":"City National Rochdale Select Strategies Fund","ticker":"CNRLX","initial_filling":"2016-12-05","effect":"2017-06-22","stage":"Active","sec_time_to_effective":"","class_name":"Class I","net_asset_source_link":"","total_asset_source_link":"","category":"Insurance","strategy":"Reinsurance","latest_prospectus":"","prospectus_date":null,"advisor":"City National Rochdale, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0.25","annual_management_fee":"0.5%","management_fee_num":"0.5%","management_fee_calc_on":"net assets","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"SEI Investments Distribution Co.","administrator":"SEI Investments Global Funds Service","custodian":"U.S. Bank, N.A.","legal_counsel":"Morgan, Lewis \u0026 Bockius LLP","public_accounting_firm":"BBD, LLP","transfer_agent":"U.S. Bank Global Fund Services, LLC","bloomberg_link":"","nav_share":"11.6","api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eCity National Rochdale Reinsurance Premium Fund (the \"\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e\") is a continuously offered, non-diversified, closed-end management investment company. The fund is an interval fund that will offer to make quarterly repurchases of shares at net asset value (“NAV”).\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Objective\u003c/i\u003e.\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe fund seeks to provide total return consisting of income and capital appreciation. There can be no assurance that the fund will achieve its investment objective.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies\u003c/i\u003e.\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe fund pursues its investment objective primarily by investing in reinsurance-related securities (also known as insurance-linked securities (“ILS”)), including industry loss warranties (“ILWs”), event-linked bonds (also known as catastrophe bonds), structured reinsurance investments such as equity-linked notes and quota shares instruments issued by insurance company segregated accounts or special purpose vehicles (each, a “Special Purpose Entity”) whose performance is tied to underlying reinsurance transaction(s) (“Structured Investments”), event-linked swaps, securities (publicly or privately offered) of companies in the insurance or reinsurance industries, registered investment companies which primarily invest in insurance- or reinsurance-related securities, and other insurance- and reinsurance-related securities. Normally, the fund invests at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes) in reinsurance-related securities. 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Shares","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"","initial":true,"slug":"city-national-rochdale-strategic-credit-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6091,"as_of_date":"2022-05-31","amount":"239319442.39","fund_id":448},"one_year_return":null,"current_yield":3.68,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"1","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":198,"name":"Cliffwater Corporate Lending Fund","ticker":"CCLFX","initial_filling":"2018-03-29","effect":"2019-03-06","stage":"Active","sec_time_to_effective":"342 Days","class_name":"Class I","net_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001735964/000139834421018553/fp0068087_ncsrs.htm","total_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001735964/000139834421018553/fp0068087_ncsrs.htm","category":"Credit","strategy":"Corporate Debt","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001735964/000139834421013618/fp0066493_424b3.htm","prospectus_date":"2021-06-29","advisor":"Cliffwater LLC","sub_advisor_1":"Audax Management Company (NY), LLC","sub_advisor_2":"BlackRock Capital Investment Advisors, LLC","min_initial_investment":10000000,"min_follow_on_investment":"5000","max_offering_size":2500000000,"repurchase_amount":"5% - 25%","repurchase_frequency":"Quarterly","max_total_sales_load":"0","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"1.06%","management_fee_num":"1.06","management_fee_calc_on":"Daily Net Assets","repurchase_fee":"0","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Foreside Fund Services, LLC","administrator":"UMB Fund Services Inc.","custodian":"State Street Bank and Trust Company","legal_counsel":"Faegre Drinker Biddle \u0026 Reath LLP","public_accounting_firm":"Cohen \u0026 Company, Ltd.","transfer_agent":"UMB Fund Services Inc.","bloomberg_link":"https://www.bloomberg.com/quote/CCLFX:US","nav_share":"10.6","api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eCliffwater Direct Lending Fund (the “\u003cb\u003eFund\u003c/b\u003e”) is a closed-end management investment company registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), and organized as a Delaware statutory trust. The Fund is non-diversified, which means that under the Investment Company Act, it is not limited in the percentage of its assets that it may invest in any single issuer of securities.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003ctable cellpadding=\"4\" style=\"font-size: 0.875rem;\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e. The Fund’s primary investment objective is to seek consistent current income, while the Fund’s secondary objective is capital preservation.\u003c/p\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003ci\u003e\u003cb\u003ePrimary Investment Strategies\u003c/b\u003e\u003c/i\u003e. Under normal market conditions, the Fund seeks to achieve its investment objectives by investing at least 80% of its assets in direct loan investments. The Fund’s direct loan investments may be made through a combination of: (i) investing in loans to companies that are originated directly by a non-bank lender (“direct loans”); (ii) investing in notes or other pass-through obligations representing the right to receive the principal and interest payments on a direct loan (or fractional portions thereof); (iii) purchasing asset-backed securities representing ownership in a pool of direct loans; and (iv) investing in companies and/or private investment funds.\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 186px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"cliffwater-corporate-lending-fund","holding_percentages":[{"name":"ABPCI Direct Lending Fund CLO X LP","percentage":"1.5482356029"},{"name":"HPS Materials Senior Secured Loan","percentage":"1.1094146662"},{"name":"HPS Industrials Senior Secured Loan","percentage":"0.6515997959"},{"name":"3SI Holdco, Inc.","percentage":"0.6291899289"},{"name":"Monroe Capital MML CLO VII Ltd.","percentage":"0.3705771545"},{"name":"OB Hospitalist Group, Inc.","percentage":"0.2539407113"},{"name":"Oak Parent, Inc.","percentage":"0.2303123707"},{"name":"ADG Acquisiton, LLC","percentage":"0.1929306485"},{"name":"TecoStar Holdings, Inc.","percentage":"0.0657365735"},{"name":"NN, Inc.","percentage":"0.0491537384"}],"last_net_asset":736322042,"last_total_asset":{"id":6087,"as_of_date":"2022-06-30","amount":"12407532805.0","fund_id":198},"one_year_return":12.38,"current_yield":8.15,"total_return_gross":null,"expense_ratio":2.29,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":2.29,"expense_ratio_net":2.29,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":2.29,"distribution_frequency":"Quarterly","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":283,"name":"Cliffwater Enhanced Lending Fund","ticker":"CELFX","initial_filling":"2021-01-29","effect":"2021-06-14","stage":"ACTIVE","sec_time_to_effective":"136 Days","class_name":"Class I","net_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001842754/000139834421013202/fp0066310_424b3.htm","total_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001842754/000139834421013202/fp0066310_424b3.htm","category":"FUND OF FUNDS","strategy":"STRUCTURED CREDIT","latest_prospectus":"https://www.sec.gov/edgar/browse/?CIK=1842754","prospectus_date":"2021-06-21","advisor":"Cliffwater LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":10000000,"min_follow_on_investment":"$5000","max_offering_size":null,"repurchase_amount":"5% to 25%","repurchase_frequency":"Quarterly","max_total_sales_load":"0","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"0.95%","management_fee_num":"0.95","management_fee_calc_on":"Net Assets","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Foreside Fund Services, LLC","administrator":"UMB Fund Services, Inc.","custodian":"State Street Bank and Trust Company","legal_counsel":"Faegre Drinker Biddle \u0026 Reath LLP","public_accounting_firm":"Cohen \u0026 Company, Ltd.","transfer_agent":"UMB Fund Services, Inc.","bloomberg_link":"https://www.bloomberg.com/quote/CELFX:US","nav_share":"10.49","api_key_id":null,"description":"\u003cp class=\"\"\u003e\u003cb style=\"font-style: italic;\"\u003eOverview: \u003c/b\u003e\u003ca href=\"https://www.cliffwater.com/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eCliffwater, LLC\u003c/a\u003e, a Los Angeles-based asset manager founded in 2004, took the Cliffwater Enhanced Lending Fund (CELFX) effective on 6/14/2021. CELFX is Cliffwater's second interval fund, following the Cliffwater Corporate Lending Fund.\u003c/p\u003e\u003cp class=\"\"\u003eThe Cliffwater Corporate Lending Fund holds more than $2b in assets, is outperforming its investment grade bonds benchmark (\u003ca href=\"https://www.ishares.com/us/products/239458/ishares-core-total-us-bond-market-etf\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eNYSE ARCA: AGG\u003c/a\u003e), and is delivering a current yield of \u003ca href=\"https://www.cliffwaterfunds.com/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e7.2%\u003c/a\u003e as of September 2021. The fund invests in private debt funds offered by managers like BlackRock, Golub Capital, and Antares Capital.\u003c/p\u003e\u003cp class=\"\"\u003eSimilarly, CELFX operates as a fund of funds that both provides debt capital directly to businesses, as well as investing in general or limited partnerships, funds, corporations, trusts or other investment vehicles engaged in similar investment strategies.\u003c/p\u003e\u003cp class=\"\"\u003eCELFX was converted from a private predecessor fund, Cliffwater Enhanced Lending Fund L.P., which \u003ca href=\"https://www.sec.gov/Archives/edgar/data/0001854192/000185419221000001/xslFormDX01/primary_doc.xml\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eraised\u003c/a\u003e nearly $106m in March 2021 before transferring assets to CELFX upon conversion. The Fund's minimum initial investment sits at $10,000,000.\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's Prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eCliffwater Enhanced Lending Fund (the “\u003cb\u003eFund\u003c/b\u003e”) is a closed-end management investment company registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), and organized as a Delaware statutory trust. The Fund is non-diversified, which means that under the Investment Company Act, it is not limited in the percentage of its assets that it may invest in any single issuer of securities.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003ctable cellpadding=\"4\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003e\u003ci\u003e\u003cb\u003eInvestment Objective:\u003c/b\u003e\u003c/i\u003e\u0026nbsp;The Fund’s primary investment objective is to seek consistent current income, while the Fund’s secondary objective is capital preservation.\u003c/p\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003ci\u003e\u003cb\u003ePrimary Investment Strategies:\u003c/b\u003e\u003c/i\u003e\u0026nbsp;Under normal market conditions, the Fund seeks to achieve its investment objectives by investing at least 80% of its assets in direct loan investments. The Fund’s direct loan investments may be made through a combination of: (i) investing in loans to companies that are originated directly by a non-bank lender (“direct loans”); (ii) investing in notes or other pass-through obligations representing the right to receive the principal and interest payments on a direct loan (or fractional portions thereof); (iii) purchasing asset-backed securities representing ownership in a pool of direct loans; and (iv) investing in companies and/or private investment funds.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eAdvisor\u003c/b\u003e: Cliffwater LLC\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eAdministrator\u003c/b\u003e: UMB Fund Services, Inc.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eLegal Counsel\u003c/b\u003e: Faegre Drinker Biddle \u0026amp; Reath LLP\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003ePartner\u003c/b\u003e: \u003ca href=\"https://www.faegredrinker.com/en/professionals/d/deringer-joshua-b#!#tab-Overview?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eJoshua B. Deringer, Esq.\u003c/a\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003ePublic Accounting Firm\u003c/b\u003e: Cohen \u0026amp; Company, Ltd.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eDistributor\u003c/b\u003e: Foreside Fund Services, LLC\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eCustodian\u003c/b\u003e: State Street Bank and Trust Company\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eTransfer Agent\u003c/b\u003e: UMB Fund Services, Inc.\u003c/div\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 186.8px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul 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Multi-Alternative Fund","ticker":"MSFIX","initial_filling":"2011-06-15","effect":"2012-03-05","stage":"Active","sec_time_to_effective":"","class_name":"Class C","net_asset_source_link":"","total_asset_source_link":"","category":"Alternatives","strategy":"Alternatives","latest_prospectus":"","prospectus_date":null,"advisor":"Destra Capital Advisors LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":100000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0","annual_management_fee":"","management_fee_num":"1.35%","management_fee_calc_on":"Daily Net Assets","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Destra Capital Investments LLC","administrator":"UMB Fund Services Inc.","custodian":"UMB Bank","legal_counsel":"Faegre Drinker Biddle \u0026 Reath LLP","public_accounting_firm":"Cohen \u0026 Company, Ltd","transfer_agent":"Gemini Fund Services, LLC","bloomberg_link":"","nav_share":"12.16","api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Destra Multi-Alternative Fund (the \"\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e\") is a newly organized, continuously offered, non-diversified, closed-end management investment company that is operated as an interval fund.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp align=\"justify\"\u003e\u003cb\u003e\u003ci\u003eInvestment Objective\u003c/i\u003e\u003c/b\u003e\u003ci\u003e.\u003c/i\u003e The Fund's investment ob\u003cspan style=\"font-size: 0.875rem; text-align: left;\"\u003ejective is to seek attractive risk-adjusted returns with low to moderate volatility and low correlation to the broader markets through a concentrated multi-strategy alternate investment approach with an emphasis on income generation.\u003c/span\u003e\u003c/p\u003e\u003cp align=\"justify\"\u003e\u003cspan style=\"font-size: 0.875rem; text-align: left;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp align=\"justify\" class=\"\"\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e. The Fund pursues its investment objective by investing primarily in the income-producing securities of: (1) real estate investment trusts (\"REITs\") and (2) alternative investment funds (\"AIFs\"), as well as (3) common stocks, (4) structured notes and (5) other forms of indebtedness. The Fund also executes investments in the preceding types of securities through exchange-traded funds (\"ETFs\"), mutual funds and closed-end funds (collectively \"Underlying Funds\"). The Fund defines AIFs as limited partnerships, limited liability companies and pooled investment vehicles that pursue investment strategies linked to real estate, small businesses or other investments that serve as alternatives to traditional stocks and bonds. The Fund invests in securities of issuers without restriction as to credit quality or market capitalization. The majority of the Fund's investments will be purchased in private placements and are not publicly traded, or are traded in over-the-counter markets that have less liquidity than exchange-traded securities.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 165.333px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"destra-multi-alternative-fund-c8a9204f-f19a-43f1-babf-3f427b5cd79c","holding_percentages":[{"name":"HOSPITALITY INVESTOR TRUST /","percentage":"3.1753392609"},{"name":"CION INVT Corp. COM /","percentage":"0.6825847699"},{"name":"Workhorse Group, Inc.","percentage":"0.1987575042"},{"name":"NXP Semiconductors","percentage":"0.0700951465"},{"name":"Workhorse Group, Inc.","percentage":"0.0508819211"},{"name":"Workhorse Group, Inc.","percentage":"0.0159006003"},{"name":"MP Materials Corp.","percentage":"-0.0106004002"},{"name":"Workhorse Group, Inc.","percentage":"-0.0384264508"},{"name":"salesforce.com, Inc.","percentage":"-0.0777362683"},{"name":"Workhorse Group, Inc.","percentage":"-0.1961074042"}],"last_net_asset":113203273,"last_total_asset":{"id":5990,"as_of_date":"2022-06-30","amount":"116509179.74","fund_id":248},"one_year_return":6.41,"current_yield":2.0,"total_return_gross":null,"expense_ratio":2.23,"total_return":null,"current_yield_percentage":null,"redemption_fee":0.0,"twelve_b_one_fee":0.0,"expense_ratio_gross":2.23,"expense_ratio_net":2.57,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":275,"name":"Ecofin Tax-Advantaged Social Infrastructure Fund, Inc.","ticker":"TSIFX","initial_filling":"2017-12-15","effect":"2018-03-26","stage":"Active","sec_time_to_effective":"","class_name":"Common Stock","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Credit","latest_prospectus":"","prospectus_date":null,"advisor":"Tortoise Capital Advisors, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":2500,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0","annual_management_fee":"","management_fee_num":"0.015","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Quasar Distributors LLC","administrator":"U.S. Bancorp Fund Services LLC","custodian":"U.S. Bank N.A.","legal_counsel":"Simpson Thacher \u0026 Bartlett","public_accounting_firm":"Ernst and Young LLP","transfer_agent":"U.S. Bancorp Fund Services LLC","bloomberg_link":"","nav_share":"9.41","api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus\u003cfont face=\"Times New Roman\" size=\"2\"\u003e\u003cb\u003e:\u003c/b\u003e\u003c/font\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cfont face=\"Times New Roman\" size=\"2\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/font\u003e\u003c/p\u003e\u003cp\u003eEcofin\u0026nbsp;Tax-Advantaged Social Infrastructure Fund, Inc. (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”), a Maryland corporation, is a newly organized, non-diversified, closed-end management investment company that continuously offers shares of Institutional Class I Common Stock (the “Common Shares” or “Class I Shares”) and is operated as an “interval fund.”\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Objective\u003c/i\u003e\u003c/b\u003e. The Fund’s investment objective is to seek to generate attractive total return with an emphasis on tax-advantaged income. “Tax-advantaged” income is income that by statute or structuring of a security is in part, or in whole, tax-reduced, tax-deferred or tax-free with respect to federal, state or municipal taxes. There can be no assurance that the Fund will achieve its investment objective.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies\u003c/i\u003e\u003c/b\u003e. The Fund seeks to achieve its investment objective by investing at least 80% of its total assets in the social infrastructure sector.\u003cspan style=\"font-size: 0.875rem;\"\u003eThe “social infrastructure sector” includes assets and services that accommodate essential services related to education, healthcare, housing, human service providers and social services. Such assets and services may include, but not be limited to, primary, secondary and post-secondary education facilities; hospitals and other healthcare facilities; seniors, student, affordable, military and other housing facilities; industrial/infrastructure and utility projects; and nonprofit and civic facilities. The Fund is not required to invest in all such types of social infrastructure securities at all times. Issuers of social infrastructure securities and obligations may include governmental entities or other qualifying issuers of states, municipalities, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies and instrumentalities, private non-profits, 501(c)(3)s, public nonprofits and other entities authorized to issue private activity and tax-exempt municipal bonds.\u003c/span\u003e\u003c/p\u003e\u003cp style=\"text-align: left;\" class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 520px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"tortoise-tax-advantaged-social-infrastructure-fund-inc","holding_percentages":[{"name":"Velocity Commercial Capital 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A","percentage":"0.0420943395"}],"last_net_asset":null,"last_total_asset":{"id":6079,"as_of_date":"2022-06-30","amount":"191634163.08","fund_id":275},"one_year_return":4.11,"current_yield":17.1,"total_return_gross":null,"expense_ratio":0.02,"total_return":null,"current_yield_percentage":null,"redemption_fee":0.0,"twelve_b_one_fee":0.0,"expense_ratio_gross":0.02,"expense_ratio_net":1.28,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":548,"name":"ECP Essential Infrastructure Income Fund","ticker":"Not Available","initial_filling":"2021-05-07","effect":null,"stage":"Recently Filed","sec_time_to_effective":"","class_name":"Institutional Class","net_asset_source_link":"","total_asset_source_link":"","category":"Fixed Income","strategy":"Debt Securities","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001858982/000092242321000028/kl258012_n2.htm","prospectus_date":"2021-05-07","advisor":"Energy Capital Partners Management, LP","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"Quarterly","max_total_sales_load":"","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"0%","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"Kramer Levin Naftalis \u0026 Frankel LLP","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eFrom the fund's prospectus:\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eECP Essential Infrastructure Income Fund (the “\u003c/span\u003e\u003cb style=\"font-size: 0.875rem;\"\u003e\u003ci\u003eFund\u003c/i\u003e\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e”) is a newly-organized Delaware statutory trust registered under the Investment Company Act of 1940, as amended, as a non-diversified, closed-end management investment company that continuously offers its shares of beneficial interest.\u003c/span\u003e\u003c/p\u003e\u003cdiv\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e. Our investment objective is to seek attractive total returns primarily through generating income and secondarily through capital appreciation. There can be no assurance that our investment objective will be achieved.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e. Under normal circumstances, the Fund intends to invest at least 80% of its total assets in income-producing publicly-traded or privately-issued securities or other interests in essential infrastructure assets or related companies. The Fund will primarily invest in debt securities (including debt securities or other interests that are convertible into equity securities) but may also invest in equity securities or other interests, including warrants to purchase equity securities.\u003c/div\u003e\u003cdiv\u003eThe Fund considers a company to be an “essential infrastructure or related company” if at least 50% of its assets, income, sales or profits are committed to or derived from the development, construction, distribution, operation, management, ownership, servicing or financing of essential infrastructure assets. Essential infrastructure assets include, without limitation, assets that provide the underlying foundation of basic services, facilities and institutions. These assets can include physical structures, networks, or systems of transportation. In addition, these assets can include those within the following sub-sectors, among others: power and renewable electricity, water, waste, telecommunications, digital infrastructure, transportation, petrochemicals and natural resource related infrastructure.\u003c/div\u003e\u003cp class=\"\"\u003e\u003c/p\u003e\u003cdiv\u003eThe Fund’s investments are primarily expected to be in issuers located in the U.S.; however, the Fund may also invest in companies located outside of the U.S. These non-U.S. companies are expected to be located in countries represented in the Organization for Economic Co-operation and Development (OECD).\u003c/div\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 36px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton 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Interest","net_asset_source_link":null,"total_asset_source_link":null,"category":null,"strategy":null,"latest_prospectus":null,"prospectus_date":null,"advisor":null,"sub_advisor_1":null,"sub_advisor_2":null,"min_initial_investment":null,"min_follow_on_investment":null,"max_offering_size":null,"repurchase_amount":null,"repurchase_frequency":null,"max_total_sales_load":null,"max_commissions":null,"distribution_fee":null,"shareholder_servicing":null,"annual_management_fee":null,"management_fee_num":null,"management_fee_calc_on":null,"repurchase_fee":null,"incentive_fee":null,"incentive_fee_num":null,"incentive_fee_benchmark":null,"distributor":null,"administrator":null,"custodian":null,"legal_counsel":null,"public_accounting_firm":null,"transfer_agent":null,"bloomberg_link":null,"nav_share":null,"api_key_id":null,"description":null,"initial":true,"slug":"ega-frontier-diversified-core-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":5138,"as_of_date":"2015-09-30","amount":"973243.0","fund_id":528},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":null,"expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":null,"distribution_frequency_number_yearly":"1","operating_expenses":null,"show_cta":null,"estimated_value":null},{"id":274,"name":"Ellington Income Opportunities Fund","ticker":"EIOAX","initial_filling":"2018-10-18","effect":"2019-06-10","stage":"Active","sec_time_to_effective":"","class_name":"Class M","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Credit","latest_prospectus":"","prospectus_date":null,"advisor":"Princeton Fund Advisers, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":2500,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0.25","annual_management_fee":"","management_fee_num":"0.0185","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Foreside Funds Distributors LLC","administrator":"U.S. Bancorp Fund Services LLC","custodian":"U.S. Bank N.A.","legal_counsel":"","public_accounting_firm":"RSM US LLP","transfer_agent":"U.S. Bancorp Fund Services LLC","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eEllington Income Opportunities Fund (the \"\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e\") is a newly organized, continuously offered, non-diversified, closed-end management investment company. The Fund is an interval fund that will offer to make quarterly repurchases of shares at the NAV.\u003c/p\u003e\u003cp class=\"medium-insert-active\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"medium-insert-active\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cdiv\u003e\u003cp\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e\u003cb\u003e. \u003c/b\u003eThe Fund’s investment objective is to seek total return, including capital gains and current income.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003ch3\u003e\u003cbr\u003e\u003c/h3\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies\u003c/i\u003e. \u003c/b\u003eThe Fund employs an opportunistic strategy to pursue value and current income across various types of mortgage-related, consumer-related, and corporate-related debt and other financial assets, including through investments primarily in securities and loans. The Fund pursues its investment objective by investing primarily in (1) residential mortgage-backed securities (“RMBS”); (2) commercial mortgage-backed securities (“CMBS”), commercial mortgage loans and other commercial real estate (“CRE”) debt, (3) the debt and equity tranches of collateralized loan obligations (“CLOs”), including corporate and CRE CLOs, (4) corporate debt and equity securities and derivatives, including high yield (“junk”) bonds, syndicated loans, credit-default swaps (“CDS”) and tranches of CDS, (5) consumer loans and asset-backed securities (“ABS”) backed by student loans, consumer loans, auto loans, single family rental cash flows, commercial receivables, and other collateral and (6) equities of U.S. and foreign real estate investment trusts (“REITs”), loan originators, loan servicers, and other mortgage and housing industry related firms.\u0026nbsp;\u003c/p\u003e\u003c/div\u003e\u003c/div\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" 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81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"ellington-income-opportunities-fund","holding_percentages":[{"name":"AMSR Trust","percentage":"4.1473321043"},{"name":"TAX LIEN - 1829 S 54TH AVE CICERO IL 9.6%","percentage":"3.5173995889"},{"name":"AMSR Trust","percentage":"3.4302145379"},{"name":"AGNC INVESTMENT CORP","percentage":"1.7358331754"},{"name":"Wells Fargo Alternative Loan T","percentage":"1.4429957207"},{"name":"Countrywide Alternative Loan T","percentage":"1.392278154"},{"name":"AGNC INVESTMENT CORP","percentage":"1.3366302909"},{"name":"Wells Fargo Alternative Loan T","percentage":"0.5394984689"},{"name":"AGNC INVESTMENT CORP","percentage":"0.0063333315"},{"name":"USD REPO","percentage":"-35.8274802626"}],"last_net_asset":28871693,"last_total_asset":{"id":6098,"as_of_date":"2022-06-30","amount":"58212310.34","fund_id":274},"one_year_return":-0.06,"current_yield":8.58,"total_return_gross":null,"expense_ratio":0.03,"total_return":null,"current_yield_percentage":null,"redemption_fee":0.0,"twelve_b_one_fee":0.0,"expense_ratio_gross":0.03,"expense_ratio_net":0.03,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":588,"name":"Emerald Strategic Innovation Interval Fund","ticker":"","initial_filling":"2022-05-10","effect":null,"stage":"Initial Filing","sec_time_to_effective":"","class_name":"Class I Shares","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"Emerald Mutual Fund Advisers Trust","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":2500,"min_follow_on_investment":"1000","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Foreside Fund Services, LLC.","administrator":"U.S. Bancorp Fund Services, LLC","custodian":"U.S Bank, N.A.","legal_counsel":"Vedder Price P.C.","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"medium-insert-active\"\u003eThe Fund attempts to achieve its investment 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48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n 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Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"Equities","strategy":"Long","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001808251/000149315220011032/formn-2.htm","prospectus_date":"2020-06-12","advisor":"Entoro Wealth, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":25000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"5.75%","max_commissions":"","distribution_fee":"0.75%","shareholder_servicing":"0.25%","annual_management_fee":"1.5%","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the fund's prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eThe Fund\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eEntoro Gray Swan Fund (the “Fund”) is a non-diversified, closed-end investment company that continuously offers its shares (“Shares”). Shares of the Fund do not represent a deposit or obligation of, and are not guaranteed or endorsed by, any bank or other insured depository institution and are not federally insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund is actively managed by the Adviser. The Fund seeks to ‎capture upward market movements in the long equities markets while ‎aggressively protecting against significant downside market movements. ‎The Fund will seek to invest in market neutral products when appropriate. Investors should consider an investment in the Fund to buffer downside market ‎movements and to provide protection to its portfolio with a balanced ‎investment approach by utilizing investment products that possess negative, ‎neutral and positive correlation to the long equity market. The Fund ‎plans to invest net assets among the Target Investments and Alternative Investments (defined below) to achieve the ‎investment objective. Generally, the Fund will weight its investments ‎towards Inverse ETFs and GBTC Investments in anticipation of down ‎markets, towards Alternative Investments in anticipation of rising ‎markets, and towards Government Securities for neutral markets. There ‎can be no assurance that the Fund’s investment decisions will achieve its ‎investment objective.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eInvestment Strategy\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eDepending on market conditions, the Fund expects to allocate its net assets as follows: up to (a) 50% of net assets may be invested into exchange traded funds (“Inverse ETFs”) that seek to correspond to the inverse (-1x, -2x, -3x) of the S\u0026amp;P 500 index and other broad-based equities indexes; (b) 25% of net assets may be invested in U.S. government securities, and securities issued by foreign governments and supranational entities (“Government Securities”); and (c) 25% may be invested in one or more subsidiaries that will invest in (i) securities that reference physical gold (“GLD”); and (ii) cash-settled Bitcoin futures contracts (“BTC Futures”, and collectively with the Inverse ETFs, Government Securities, and GLD, the “Target Investments”). The Fund’s Target Investments may be changed from time to time without a vote of the Fund’s shareholders. In addition to Target Investments, the Fund may elect to increase cash positions and invest in securities issued by corporations and other investments (“Alternative Investments”). If in the future, cash settled futures for other digital assets become available on CFTC regulated exchanges, the Adviser may recommend to the Board for its prior consent that the Fund invest in such assets as part of the BTC Future tranche; any such investment would be included in the BTC Futures allocation and subject to applicable BTC Futures investment limits set forth herein. Similarly, if in the future the Fund would be allowed under applicable regulation to invest directly into one or more digital currencies such as Bitcoin or Ethereum, the Fund would be required to seek the shareholder approval to do so and to amend its Fundamental Policies accordingly; any investment directly into a digital asset would also be subject to the BTC Futures allocation and applicable BTC Futures investment limits set forth herein.\u003cbr\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 414.6666259765625px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"entoro-gray-swan-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":0.5,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":254,"name":"Equalize Community Development Fund","ticker":"EQCDX","initial_filling":"2013-08-07","effect":"2013-11-27","stage":"Active","sec_time_to_effective":"","class_name":"Common Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"Alternatives","strategy":"Small Business Loans","latest_prospectus":"","prospectus_date":null,"advisor":"Bluestone Capital Partners LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":10000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"1.50%","management_fee_calc_on":"Average Monthly Net Assets","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"FORESIDE FUND SERVICES, LLC","administrator":"UMB FUND SERVICES, INC.","custodian":"UMB BANK, N.A","legal_counsel":"Godfrey \u0026 Kahn, S.C.","public_accounting_firm":"Cohen \u0026 Company, Ltd.","transfer_agent":"UMB FUND SERVICES, INC","bloomberg_link":"","nav_share":"10.08","api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003eBluestone Community Development Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a Delaware statutory trust registered as an investment\r\ncompany under the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund is a non-diversified,\r\nclosed-end management investment company that operates as an “interval fund.”\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e:\u0026nbsp;The Fund’s investment objectives are to provide current income, consistent with the preservation of capital, and to\r\nenable institutional Fund investors that are subject to regulatory examination for CRA compliance to claim favorable\r\nregulatory consideration of their investment under the Community Reinvestment Act of 1977, as amended (the\r\n“CRA”).\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e: The Fund seeks to achieve its objectives by investing primarily in a portfolio of 504 First Lien Loans (“504\r\nFirst Lien Loans”) secured by owner-occupied commercial real estate, which represent the non-guaranteed portion of a\r\nU.S. Small Business Administration (“SBA”) Section 504 transaction. In general, 504 First Lien Loans have the\r\ncommunity development qualities that are eligible for favorable consideration under the CRA, whether as so-called\r\ncommunity development loans or as qualified investments. This is particularly true for 504 First Lien Loans exceeding\r\n$1 million.\r\nUnder normal market conditions, the Fund will invest at least 80% of its total assets in 504 First Lien Loans. 504 First\r\nLien Loans are made by financial institutions and other lenders to small businesses for the purchase or improvement of\r\nland and buildings. 504 First Lien Loans are not guaranteed by the SBA, the U.S. government or by its agencies,\r\ninstrumentalities or sponsored enterprises.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 280px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"bluestone-community-development-fund","holding_percentages":[{"name":"1250 Philadelphia, LLC","percentage":"5.7943286361"},{"name":"7410-7428 Bellaire LLC","percentage":"4.9623863437"},{"name":"Ruby View Investments, LLC","percentage":"4.5463689188"},{"name":"Stanly Avenue Realty LLC","percentage":"4.4175528313"},{"name":"413 East 53rd Street, LLC","percentage":"3.8918009402"},{"name":"ZC Park, LLC","percentage":"3.1819514089"},{"name":"Moses Lake Investors LLC","percentage":"2.1967755885"},{"name":"Rug Palace Inc. dba Rug Palace Expo","percentage":"1.5114770706"},{"name":"CV Investment Properties LLC","percentage":"1.0488961897"},{"name":"Grigorian Investments LLC","percentage":"1.0190723943"}],"last_net_asset":42276544,"last_total_asset":{"id":6005,"as_of_date":"2022-06-30","amount":"57646676.3","fund_id":254},"one_year_return":8.83,"current_yield":4.03,"total_return_gross":null,"expense_ratio":2.87,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":2.87,"expense_ratio_net":1.75,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":600,"name":"Fidelity Multi-Strategy Credit Fund","ticker":"","initial_filling":"2022-10-11","effect":null,"stage":"Initial Filing","sec_time_to_effective":"","class_name":"Class I Shares","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Credit","latest_prospectus":"","prospectus_date":null,"advisor":"","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"Dechert LLP","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's Prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003eUnder normal circumstances, the Fund will invest at least 80% of its assets in Credit Instruments (as defined below). The Fund will opportunistically allocate its investments in Credit Instruments among (i) foundational credit, which includes private credit (direct lending and real estate debt), and liquid and less liquid credit (leveraged loans, high yield bonds and collateralized loan obligations (“CLOs”)) and (ii) opportunistic credit, which include stressed and distressed investments (distressed debt, special situations, rescue financing and hung deals) and opportunistic investments (convertible bonds, preferred stock, commercial mortgage-backed securities and privately originated reverse inquiry credit solutions) (together, “Credit Instruments”). The Fund may invest in additional types of Credit Instruments and strategies in the future.\u0026nbsp;\u003cbr\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 0px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"fidelity-multi-strategy-credit-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":null,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":308,"name":"First Eagle Credit Opportunities Fund","ticker":"FECRX","initial_filling":"2020-07-22","effect":"2020-11-30","stage":"ACTIVE","sec_time_to_effective":"131 Days","class_name":"Class A","net_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001818416/000110465921113324/tm2122991d1_ncsrs.htm","total_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001818416/000110465921113324/tm2122991d1_ncsrs.htm","category":"ALTERNATIVES","strategy":"CREDIT","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001818416/000093041321001035/c101243_424b3.htm","prospectus_date":"2021-04-30","advisor":"First Eagle Investment Management, LLC","sub_advisor_1":"First Eagle Alternative Credit, LLC","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5% to 25%","repurchase_frequency":"Quarterly","max_total_sales_load":"0","max_commissions":"","distribution_fee":"0","shareholder_servicing":"0","annual_management_fee":"1.74%","management_fee_num":"1.74","management_fee_calc_on":"Daily Net Assets","repurchase_fee":"0","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"FEF Distributors, LLC","administrator":"First Eagle Investment Management, LLC","custodian":"JPMorgan Chase Bank, N.A.","legal_counsel":"Sidley Austin LLP","public_accounting_firm":"PricewaterhouseCoopers LLP","transfer_agent":"DST Systems, Inc.","bloomberg_link":"https://www.bloomberg.com/quote/FECRX:US","nav_share":"26.37","api_key_id":null,"description":"\u003cp class=\"\"\u003e\u003cb\u003eOverview: \u003c/b\u003eFirst Eagle Investment Management, LLC registered the First Eagle Credit Opportunities Fund (the \"Fund\") on 7/22/2020. The Fund is their first foray into closed-end interval funds, although the manager has operated for 20+ years with over $20b in managed assets.\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund seeks to provide attractive current income, with a secondary objective of long-term risk-adjusted returns, by investing in a portfolio of U.S. alternative credit assets across multiple sectors and risk profiles.\u003c/p\u003e\u003cp class=\"\"\u003e The Fund is a strong vote of confidence for private credit investments, unlocking stronger yields than publicly traded fixed-income securities without taking on commensurate risk. At the time of publishing, the Fund held over $128m in managed assets (against a $2b target AUM) and delivered a trailing 1-year return of 12.30% with a distribution yield of 7.14%.\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund offers a share class for retail investors (Class A) with a minimum initial investment of $2500.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's Prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003eFirst Eagle Credit Opportunities Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a newly organized, non-diversified, closed-end management investment company that continuously offers its shares of beneficial interest (the “Common Shares”), and is operated as an “interval fund.”\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003e\u003ci\u003eInvestment Objective. \u003c/i\u003e\u003c/b\u003eThe Fund’s primary investment objective is to provide current income with a secondary objective of providing long-term risk-adjusted returns by investing in a portfolio of a variety of credit asset classes. The Fund intends to capitalize on relative value opportunities across the credit spectrum. There can be no assurance that the Fund will achieve its investment objective.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies. \u003c/i\u003e\u003c/b\u003eThe Fund will invest, under normal market conditions, at least 80% of its Managed Assets (as defined in this prospectus) in a credit portfolio of below investment-grade credit assets including but not limited to syndicated bank loans, middle market “club” loans, direct lending (consisting of first lien loans, including unitranche loans), asset-based loans, and high yield bonds (commonly referred to as “junk” bonds). The Fund expects, under normal circumstances, to employ an investment strategy that capitalizes on current and future income and relative value opportunities in credit markets. To the extent consistent with the applicable liquidity requirements for interval funds under Rule 23c-3 of the Investment Company Act of 1940, as amended (the “1940 Act”), the Fund may invest without limit in illiquid investments.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eAdvisor\u003c/b\u003e: First Eagle Investment Management, LLC\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eSub-Advisor\u003c/b\u003e: First Eagle Alternative Credit, LLC\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eAdministrator\u003c/b\u003e: First Eagle Investment Management, LLC\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eLegal Counsel\u003c/b\u003e: Sidley Austin LLP\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003ePartner\u003c/b\u003e: \u003ca href=\"https://www.sidley.com/en/people/g/greene-nathan-j?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eNathan J. Greene, Esq.\u003c/a\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003ePublic Accounting Firm\u003c/b\u003e: PricewaterhouseCoopers LLP\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eDistributor\u003c/b\u003e: FEF Distributors, LLC\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eCustodian\u003c/b\u003e: JPMorgan Chase Bank, N.A.\u003c/div\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eTransfer Agent\u003c/b\u003e: DST Systems, Inc.\u003c/div\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 566px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none;\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"first-eagle-credit-opportunities-fund","holding_percentages":[{"name":"JP Morgan U.S. Government Money Market Fund","percentage":"21.86391576365"},{"name":"William Morris Endeavor Entertainment LLC","percentage":"4.290274278015"},{"name":"Trace3 LLC","percentage":"3.930362656138"},{"name":"Crown Finance US, Inc.","percentage":"2.930205293476"},{"name":"Anne Arundel Dermatology Management LLC","percentage":"2.348765898971"},{"name":"Travelcenters of America, Inc.","percentage":"2.328152248906"},{"name":"Riveron Consulting LLC","percentage":"1.200302886145"},{"name":"Veregy Consolidated, Inc.","percentage":"1.178924034203"},{"name":"GTT Communications B.V.","percentage":"0.988060901249"},{"name":"N/A","percentage":"0.354716849023"}],"last_net_asset":null,"last_total_asset":{"id":6137,"as_of_date":"2022-06-30","amount":"514334458.97","fund_id":308},"one_year_return":2.5,"current_yield":7.03,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":4.96,"expense_ratio_net":1.82,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":4.96,"expense_ratio_net_class":1.82,"distribution_frequency":"Monthly","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":585,"name":"First Trust Private Credit Fund","ticker":"FTPCX","initial_filling":"2022-04-19","effect":"2022-09-06","stage":"Active","sec_time_to_effective":"140","class_name":"Class I Shares","net_asset_source_link":"","total_asset_source_link":"","category":"Private Credit","strategy":"Private Credit","latest_prospectus":"","prospectus_date":null,"advisor":"First Trust Capital Management L.P.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"Quarterly","max_total_sales_load":"0","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"1.35%","management_fee_num":"1.35","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"UMB Fund Services, Inc.","custodian":"UMB Bank, n.a.","legal_counsel":"Faegre Drinker Biddle \u0026 Reath LLP","public_accounting_firm":"Grant Thornton LLP","transfer_agent":"UMB Fund Services, Inc.","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cdiv\u003eThe Fund’s investment objective is to produce current income. The Fund seeks to achieve its investment objective by allocating its assets across a wide array of credit strategies. The Fund uses a “multi-manager” approach whereby the Fund’s assets are allocated among the Investment Adviser and one or more sub-advisers (each, a “Sub-Adviser” and together, the “Sub-Advisers”), in percentages determined at the discretion of the Investment Adviser. There can be no assurance that the Fund will achieve its investment objective or that the Fund’s investment strategies will be successful.\u003c/div\u003e\u003cdiv\u003eUnder normal market conditions, the Fund seeks to achieve its investment objective by allocating at least 80% of its net assets, plus the amount of any borrowings for investment purposes, to a diverse portfolio of private credit instruments. For the purpose of this policy, “private credit instruments” include, without limitation, those that are issued in private offerings by private or public companies, such as commercial real estate mezzanine loans, real estate mortgages, distressed securities, notes, debentures, bank loans, and convertible and preferred securities. These instruments may be acquired directly from the issuer or in secondary market transactions.\u003c/div\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 0px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"first-trust-private-credit-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6172,"as_of_date":"2022-06-30","amount":"5143729.84","fund_id":585},"one_year_return":null,"current_yield":null,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":573,"name":"First Trust Real Assets Fund","ticker":"FTRAX","initial_filling":"2021-12-10","effect":"2022-06-29","stage":"Recently Filed","sec_time_to_effective":"","class_name":"Class A","net_asset_source_link":"","total_asset_source_link":"","category":"ALTERNATIVES","strategy":"REAL ASSETS","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001898303/000110465921148568/tm2134636d1_n2.htm","prospectus_date":"2021-12-10","advisor":"First Trust Capital Management L.P.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5% to 25%","repurchase_frequency":"Quarterly","max_total_sales_load":"5.75%","max_commissions":"","distribution_fee":"1.00%","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"Net Assets","repurchase_fee":"0","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"First Trust Portfolios L.P.","administrator":"UMB Fund Services, Inc.","custodian":"UMB Bank, n.a.","legal_counsel":"Faegre Drinker Biddle \u0026 Reath LLP","public_accounting_firm":"","transfer_agent":"UMB Fund Services, Inc.","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003e\u003cb style=\"font-style: italic;\"\u003eOverview: \u003c/b\u003eThe First Trust Real Assets Fund (the \"Fund\"), registered on 12/10/2021, has a salient investment objective: long-term \u003cb\u003ereal\u0026nbsp;return\u003c/b\u003e\u0026nbsp;through current income and long-term capital appreciation.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund defines \"real return\" as total return after adjusting for inflation, which is currently sitting at 6.8% YoY \u003ca href=\"https://www.cnbc.com/2021/12/10/consumer-price-index-november-2021.html\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eas of November 2021\u003c/a\u003e, the fastest rate since 1982. Even the 10-year Treasury Inflation Protected Security (TIPS), explicitly designed as a government-backed inflation hedge, is delivering a \u003ca href=\"https://www.cnbc.com/quotes/US10YTIP\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ereal yield of roughly -1%\u003c/a\u003e.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund has elected to pay monthly distributions at a flat rate of 5% annualized, meaning the capital appreciation component will be crucial in order to meet its objective. It will also have to ensure that it generates enough net investment income to pay out distributions without \u003ca href=\"https://intervalfunds.org/insights/10-interval-funds-yielding-over-7-percent-with-no-return-of-capital-Q3-2021\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ereturning investor capital\u003c/a\u003e.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eIf successful, the Fund will serve as a welcome addition to the world of alternative investment products, as investors scramble to protect themselves from inflation without taking on excessive downside risk. The Fund seeks to achieve its objective by investing in 'real assets,' including real estate, infrastructure, natural resources like timber and agriculture/farmland, and precious metals.\u0026nbsp;\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe adviser, Chicago-based \u003ca href=\"https://www.firsttrustcapital.com/?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eFirst Trust Capital Management\u003c/a\u003e (formerly Vivaldi Asset Management prior to a joint venture between Vivaldi Holdings and First Trust Capital Partners) has offered alternative investment products for more than two decades, spanning private equity, venture capital, hedge funds, real estate, and private credit. The offerings include two existing interval funds, with total AUM across all products topping $962 million.\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003eThe Fund:\u0026nbsp;\u003c/i\u003e\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eFirst Trust Real Assets Fund (the “Fund”) is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), as a non-diversified, closed-end management investment company. The Fund was organized as a Delaware trust on December 8, 2021. The Fund intends to operate as an interval fund pursuant to Rule 23c-3 of the Investment Company Act.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003eInvestment Objective:\u0026nbsp;\u003c/i\u003e\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund’s investment objective is to achieve long-term real return through current income and long-term capital appreciation. Real return is total return after adjusting for inflation.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003eInvestment Strategies:\u0026nbsp;\u003c/i\u003e\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eUnder normal circumstances, the Fund seeks to achieve its investment objective by allocating at least 80% of its net assets, plus the amount of any borrowings for investment purposes, to real assets and real asset companies (together, “Real Asset Related Investments”). Real assets include, without limitation, investments related to real estate, infrastructure, natural resources (such as timberland and agriculture/farmland), and precious metals. Real asset companies include companies that own, operate or derive at least 50% of their profits or revenues from, or commit at least 50% of their assets to, real assets and activities related to real assets. The Fund seeks to obtain exposure to Real Asset Related Investments by investing principally in (i) private funds that primarily invest in real assets and real asset companies (“Private Funds”); (ii) real estate investment trusts (“REITs”), including wholly-owned and controlled subsidiaries of the Fund that are REITs (“Sub-REITs”) that invest in real assets; (iii) publicly traded equity and debt securities associated with real assets (“Real Asset Securities”); (iv) private debt instruments associated with real assets; and (v) a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”), which may invest in commodity futures contracts and exchange-traded commodity linked instruments associated with real assets.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdviser: \u003c/b\u003eFirst Trust Capital Management L.P.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eDistributor: \u003c/b\u003eFirst Trust Portfolios L.P.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdministrator: \u003c/b\u003eUMB Fund Services, Inc.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eCustodian: \u003c/b\u003eUMB Bank, n.a.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eLegal Counsel: \u003c/b\u003eFaegre Drinker Biddle \u0026amp; Reath LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.faegredrinker.com/en/professionals/d/deringer-joshua-b#!#tab-Overview?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eJoshua B. Deringer, Esq.\u003c/a\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eTransfer Agent: \u003c/b\u003eUMB Fund Services, Inc.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 462px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"first-trust-real-assets-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6168,"as_of_date":"2022-06-30","amount":"5152511.37","fund_id":573},"one_year_return":null,"current_yield":4.36,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":5.0,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":5.0,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"Monthly","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":310,"name":"Flat Rock Core Income Fund","ticker":"CORFX","initial_filling":"2020-07-23","effect":"2020-10-13","stage":"Active","sec_time_to_effective":"82 Days","class_name":"Common Shares of Beneficial Interest","net_asset_source_link":"https://flatrockglobal.com/core-income-fund/","total_asset_source_link":"https://flatrockglobal.com/core-income-fund/","category":"Credit","strategy":"Credit","latest_prospectus":"https://flatrockglobal.com/wp-content/uploads/CORFX-Prospectus-November-2021.pdf","prospectus_date":"2021-04-30","advisor":"Flat Rock Global, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000,"min_follow_on_investment":"","max_offering_size":100000000,"repurchase_amount":"5%","repurchase_frequency":"Quarterly","max_total_sales_load":"0%","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"1.375%","management_fee_num":"1.375","management_fee_calc_on":"Total Assets in Arrears","repurchase_fee":"0","incentive_fee":"1.1%","incentive_fee_num":"1.1","incentive_fee_benchmark":"15% of Net Investment Income w/ 8% Hurdle and End-of-Year Catch-Up","distributor":"ALPS Distributors, Inc.","administrator":"ALPS Fund Services, Inc.","custodian":"U.S. Bank","legal_counsel":"Eversheds Sutherland (US) LLP","public_accounting_firm":"Cohen \u0026 Company, Ltd.","transfer_agent":"DST Systems, Inc.","bloomberg_link":"","nav_share":"20.69","api_key_id":null,"description":"\u003cdiv\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Flat Rock Core Income Fund\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e(the “\u003c/span\u003e\u003ci style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e”)\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u0026nbsp;was launched on 7/2/2017, upon conversion of an existing BDC (Flat Rock Capital Corp), to preserve investor capital and drive current income by investing in first lien, floating rate loans made to middle-market firms owned by private equity.\u003c/span\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003eFirst lien senior secured loans had an \u003ca href=\"https://flatrockglobal.com/wp-content/uploads/CORFX-Fact-Card-October-31-2021_vF.pdf\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e0.011 correlation to the S\u0026amp;P 500\u003c/a\u003e as of 10/31/2021 and they performed well for the Fund, delivering an 8.64% total return YTD (through 10/31/2021) and a current yield of 6.57% with no return of capital.\u003c/p\u003e\u003cp class=\"\"\u003eWe would consider this an outright success story, but the current net expense ratio sits at \u003ca href=\"https://flatrockglobal.com/wp-content/uploads/CORFX-Prospectus-November-2021.pdf\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e7.5%\u003c/a\u003e according to the latest prospectus (\u003ca href=\"https://www.bloomberg.com/quote/CORFX:US\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e8.07%\u003c/a\u003e according to Bloomberg), and has been steadily climbing from 1.18% upon the Fund's inception in 2017. Granted, 3.1% of that comes from incentive fees and leverage, and would not have been charged without commensurate performance; the Fund's income from investment operations has grown from 2.79% of NAV to 9.31% of NAV, and Fund's total annual return has grown from 2.80% to 10.03%, over the same time period.\u003c/p\u003e\u003cp class=\"\"\u003eStill, Flat Rock was able to pay out an 11.63% yield from its other interval fund \u003ca href=\"https://intervalfunds.org/funds/flat-rock-opportunity-fund\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eFROPX\u003c/a\u003e thus far, with a 25.11% YTD total return, and net expenses below 5.5%. We are unclear how expenses ended up 201 bps lower for FROPX, given that it also pays incentives and uses leverage.\u003c/p\u003e\u003cp class=\"\"\u003eFlat Rock Global is an investment adviser based out of Jackson, WY with a clear focus on alternative credit. Their other interval fund \u003ca href=\"https://intervalfunds.org/funds/flat-rock-core-income-fund\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eCORFX\u003c/a\u003e is delivering a respectable current yield of 6.57%, and the adviser currently manages $388m across both funds.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003ci\u003eFrom the Fund's Prospectus:\u003c/i\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/span\u003e\u003c/p\u003e\u003cp\u003eFlat Rock Core Income Fund\u0026nbsp;is a newly organized, continuously offered, non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) that operates as an interval fund.\u0026nbsp;\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003e\u003ci\u003eInvestment Objective\u003c/i\u003e. \u003c/b\u003eThe Fund’s investment objective is the preservation of capital while generating current income from its debt investments and seeking to maximize the portfolio’s total return.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies\u003c/i\u003e. \u003c/b\u003eThe Fund pursues its investment objective by investing, under normal circumstances, at least 80% of its assets (defined as net assets plus the amount of any borrowing for investment purposes) in “Credit Investments”. The Fund defines “Credit Investments” as senior secured loans of U.S. middle-market companies (“Senior Loans”) and investment vehicles, such as collateralized loan obligations (“CLOs”), business development companies (“BDCs”) or senior loan facilities that provide the Fund with exposure to Senior Loans. The Fund expects that most of its Senior Loans will be made to borrowers with earnings before interest, taxes, depreciation and amortization, or EBITDA, of between $5 million and $75 million annually. Additionally, the Fund may from time to time hold or invest in equity securities and other debt or equity securities generally arising from a restructuring of Senior Loan positions previously held by the Fund.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdviser: \u003c/b\u003eFlat Rock Global, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdministrator: \u003c/b\u003eALPS Fund Services, Inc.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eDistributor: \u003c/b\u003eALPS Distributors, Inc.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eCustodian:\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eU.S. Bank\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eLegal Counsel: \u003c/b\u003eEversheds Sutherland (US) LLP\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://us.eversheds-sutherland.com/People/Owen-J-Pinkerton?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eOwen J. Pinkerton\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003ePublic Accounting Firm: \u003c/b\u003eCohen \u0026amp; Company, Ltd.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eTransfer Agent: \u003c/b\u003eDST Systems, Inc.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 295.694px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul 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data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"flat-rock-core-income-fund","holding_percentages":[{"name":"N/A","percentage":"23.59193187063"},{"name":"N/A","percentage":"8.083054870124"},{"name":"N/A","percentage":"7.818634575444"},{"name":"United States Treasury Bills","percentage":"6.631230888993"},{"name":"Affinion Insurance Solutions","percentage":"6.299668462589"},{"name":"N/A","percentage":"5.727724878486"},{"name":"N/A","percentage":"5.481864915702"},{"name":"N/A","percentage":"5.015116378577"},{"name":"N/A","percentage":"2.896702179908"},{"name":"Diamond Clo 2019-1 Llc","percentage":"2.46071092857"}],"last_net_asset":60320635,"last_total_asset":{"id":6132,"as_of_date":"2022-06-30","amount":"235190656.2","fund_id":310},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":6.57,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":8.07,"expense_ratio_net_class":8.07,"distribution_frequency":"Monthly","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":587,"name":"Flat Rock Core Plus Fund","ticker":"","initial_filling":"2022-07-08","effect":null,"stage":"Initial Filing","sec_time_to_effective":"","class_name":"Common Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"Structured Credit","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"Flat Rock Global, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":0,"min_follow_on_investment":"0","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"ALPS Distributors, Inc.","administrator":"","custodian":"","legal_counsel":"Eversheds Sutherland (US) LLP","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"medium-insert-active\"\u003e\u003cfont class=\"Italic\"\u003eInvestment Strategy. \u003c/font\u003e\u003cfont class=\"CharOverride-4\"\u003eWe invest primarily in the junior debt tranches of collateralized loan obligations (“CLOs”) with a particular emphasis on CLO debt tranches initially rated ‘BB’ by a National Recognized Statistical Rating Organization (“NRSRO”). To a lesser extent, we may invest in other CLO debt securities, CLO equity or other debt securities as permitted by the Adviser’s allocation policy. CLOs own a pool of senior secured loans made to companies whose debt is rated below investment grade or, in some circumstances, unrated. 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with a current distribution yield of 11.63% (as of 11/23/2021), FROPX offers the largest current yield of any interval fund that isn't going through liquidation.\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund's fee structure is hefty, with a 5.49% total expense ratio that includes an incentive fee of 15% of net investment income stacked on a 1.55% management fee. But CLOs issued by names like Oaktree, Ares and Bain Capital Credit have historically delivered IRRs of roughly 14% to 21%, and their resilience is reflected in FROPX's performance.\u003c/p\u003e\u003cp class=\"\"\u003eNot only has FROPX returned 25.11% year to date, compared to 24.04% for the S\u0026amp;P 500 index, it pays over 9x the dividend with zero return of capital and only a third of the volatility.\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund's annualized return since inception is less than 4% behind the S\u0026amp;P 500 index. It's a common misconception that collecting an attractive coupon necessitates tolerating volatility, keeping an eye out for return of capital, and accepting a higher risk of default from borrowers of lower credit quality. FROPX is an example of how credit-focused interval funds can force us to rethink conventional wisdom around the price of yield.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eFlat Rock Global is an investment adviser based out of Jackson, WY with a clear focus on alternative credit. Their other interval fund \u003ca href=\"https://intervalfunds.org/funds/flat-rock-core-income-fund\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eCORFX\u003c/a\u003e\u0026nbsp;is delivering a respectable current yield of 6.57%, and the adviser currently manages $388m across both funds.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003ci\u003eNote: there is no minimum limit contribution when accessed through custodial platforms. The Fund's distributor DST may enforce a limit for someone that wishes to purchase via subscription documents, however.\u003c/i\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's Prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe\u0026nbsp;Flat Rock Opportunity Fund (the \"\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e\") is a newly organized, continuously offered, non-diversified, closed-end management investment company that is registered as an investment company under the Investment Company Act of 1940, as amended (the “1940 Act”) and intends to operate as an interval fund.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e. Our investment objective is to generate current income and, as a secondary objective, long-term capital appreciation.\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e. We expect to invest primarily in the equity and, to a lesser extent, in the junior debt tranches of collateralized loan obligations (“CLOs”) that own a pool of senior secured loans made to companies whose debt is rated below investment grade or, in limited circumstances, unrated (“Senior Secured Loans”). We may, to a lesser extent, invest in (i) debt and equity securities issued by business development companies, (ii) Senior Secured Loans directly, (iii) fixed income securities, and (iv) investment funds that provide exposure to Senior Secured Loans and fixed income securities. We will limit our investments in private equity funds and hedge funds that are excluded from the definition of “investment company” under the Investment Company Act of 1940, as amended, by Section 3(c)(1) or 3(c)(7) of the 1940 Act to no more than 15% of our total assets.\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cb\u003eAdviser: \u003c/b\u003eFlat Rock Global, LLC\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cb\u003eAdministrator: \u003c/b\u003eALPS Fund Services, Inc.\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cb\u003eLegal Counsel: \u003c/b\u003eEversheds Sutherland (US) LLP\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://us.eversheds-sutherland.com/People/Owen-J-Pinkerton?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eOwen J. Pinkerton\u003c/a\u003e\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cb\u003ePublic Accounting Firm: \u003c/b\u003eCohen \u0026amp; Co., Ltd.\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cb\u003eDistributor: \u003c/b\u003eALPS Distributors, Inc.\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cb\u003eCustodian: \u003c/b\u003eU.S. Bank N.A.\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"Textind\"\u003e\u003cb\u003eTransfer Agent: \u003c/b\u003eDST Systems, Inc.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 409px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" 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\u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"flat-rock-opportunity-fund","holding_percentages":[{"name":"Tcp Whitney Clo Ltd","percentage":"10.94273149539"},{"name":"Ocp Clo Ltd","percentage":"6.36463949199"},{"name":"Atlas Senior Loan Fund Ltd","percentage":"6.044471903014"},{"name":"Sound Point Clo Ltd","percentage":"4.322846387894"},{"name":"Monroe Capital Mml Clo","percentage":"3.408187663701"},{"name":"Ares Clo Ltd","percentage":"3.304666109864"},{"name":"Marathon Clo Ltd","percentage":"3.298875929714"},{"name":"Eaton Vance Cdo Ltd","percentage":"2.587872658122"},{"name":"Diamond Clo 2019-1 Llc","percentage":"1.874432323181"},{"name":"Neuberger Berman Clo Ltd","percentage":"1.61832816328"}],"last_net_asset":null,"last_total_asset":{"id":6086,"as_of_date":"2022-06-30","amount":"276230757.63","fund_id":271},"one_year_return":47.51,"current_yield":14.26,"total_return_gross":null,"expense_ratio":5.49,"total_return":null,"current_yield_percentage":11.63,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":5.49,"expense_ratio_net":5.49,"current_yield_over_time":11.63,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":5.49,"expense_ratio_net_class":5.49,"distribution_frequency":"Monthly","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":508,"name":"FNEX Ventures","ticker":"XFNEX","initial_filling":"2018-07-19","effect":"2019-09-23","stage":"Deregistered","sec_time_to_effective":null,"class_name":"Shares of Beneficial 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Real Estate Income Fund","ticker":"","initial_filling":"2022-06-14","effect":"2022-09-28","stage":"Active","sec_time_to_effective":"","class_name":"Class I Shares","net_asset_source_link":"","total_asset_source_link":"","category":"Real Estate","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"Forum Capital Advisors LLC.","sub_advisor_1":"Janus Henderson Investors US LLC.","sub_advisor_2":"","min_initial_investment":10000,"min_follow_on_investment":"1000","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"UMB Fund Services, Inc.","custodian":"UMB Bank, N.A.","legal_counsel":"Morrison \u0026 Foerster LLP","public_accounting_firm":"","transfer_agent":"UMB Fund Services, Inc.","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"Text_ind\"\u003eThe Fund concentrates its investments (\u003cfont class=\"Italic\"\u003ei.e.\u003c/font\u003e, invests more than 25% of its assets) in the real estate industry. Under normal circumstances, the Fund will invest at least 80% of its net assets (plus the amount of borrowings for investment purposes) in a portfolio of commercial real estate loans and other real\u003cfont class=\"nobreak\"\u003e-estate\u003c/font\u003e related investments located in the United States. Real estate related investments include, but are not limited to, commercial mortgage backed securities (“\u003cfont class=\"BoldItalic\"\u003eCMBS\u003c/font\u003e”), commercial real estate collateralized loan obligations (“\u003cfont class=\"BoldItalic\"\u003eCRE CLOs\u003c/font\u003e”), preferred equity issued by real estate investment trusts or companies that develop, own and operate commercial real estate assets, mezzanine loans backed by commercial real estate assets, and securities issued by publicly\u003cfont class=\"nobreak\"\u003e-traded\u003c/font\u003e real estate investment trusts. To a lesser extent, the Fund may also invest directly in commercial real estate. The categories of commercial real estate underlying the Fund’s investments include, but are not limited to, multifamily, industrial, mixed use, hospitality, office, and retail. The Fund may invest in securities that are rated below investment grade by rating agencies or that would be rated below investment grade if they were rated. There are no limits on the Fund’s investments in below investment grade securities.\u003c/p\u003e\u003cp class=\"Text_ind\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"Text_ind\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eOn June 14, 2022, the Fund filed a pending registration statement under the Securities Exchange Act of 1934 to register shares of the fund to be offered for public sale. The Fund, pending registration, intends to operate as an interval fund pursuant to Rule 23c-3 of the Investment Company Act.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eOn June 14, 2022, the Initial Fund filed a registration statement on Form N-2 seeking to register shares of the Fund to be offered for public sale under the Securities Act (the “\u003cb\u003e\u003ci\u003eRegistration Statement\u003c/i\u003e\u003c/b\u003e”). The Registration Statement has not yet been declared effective. The Registration Statement seeks to offer three classes of shares, “\u003cb\u003e\u003ci\u003eClass W shares\u003c/i\u003e\u003c/b\u003e\u003ci\u003e,\u003c/i\u003e” “\u003cb\u003e\u003ci\u003eClass I shares\u003c/i\u003e\u003c/b\u003e,” and “\u003cb\u003e\u003ci\u003eFounders Shares\u003c/i\u003e\u003c/b\u003e\u003ci\u003e,\u003c/i\u003e” each with its own fee and expense structure. If the Registration Statement is declared effective prior to receipt of the requested relief, the Initial Fund will publicly offer only one class of Shares, Founders Shares (which were previously referred to as Class I shares in the Initial Registration Statement). If the requested relief is granted prior to the effective date of the Registration Statement, the Initial Fund intends to continuously offer Class W shares, Class I shares and Founders Shares, with each class having its own fee and expense structure. Additional offerings by any Fund relying on the requested relief may be offered on a private placement or public offering basis.\u003c/p\u003e\u003cp\u003eShares will not be listed on any securities exchange, nor quoted on any quotation medium, and the Funds do not expect there to be a secondary trading market for their Shares.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 409.077px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"forum-real-estate-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6151,"as_of_date":"2022-06-30","amount":"75656153.02","fund_id":593},"one_year_return":null,"current_yield":null,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":429,"name":"Franklin BSP Private Credit Fund","ticker":"FBSPX","initial_filling":"2019-11-18","effect":"2022-10-03","stage":"Recently Filed","sec_time_to_effective":"","class_name":"Advisor Class","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Loans, Bonds, and Debt","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001794041/000110465920037884/tm2012652d1_n2a.htm","prospectus_date":"2020-03-25","advisor":"Benefit Street Partners L.L.C.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"2.25%","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"0%","annual_management_fee":"1.5%","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the fund's prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eThe Fund\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund is a Delaware statutory trust that is registered under the 1940 Act as a non-diversified, closed-end management investment company. The Fund is operated as an “interval fund” (as defined below).\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund’s investment objective is to generate attractive risk-adjusted returns with consistent current income.\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eInvestment Opportunities and Strategies\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund seeks to achieve its investment objective by investing in private credit investments in middle market companies in the United States. The investment portfolio will primarily consist of private credit investments, which include privately offered secured debt (including senior secured, unitranche and second-lien debt) and unsecured debt (including senior unsecured and subordinated debt) across directly originated corporate loans, broadly syndicated corporate loans and high yield corporate bonds. Under normal circumstances, private credit investments will represent at least 80% of the Fund’s Managed Assets. “Managed Assets” means the total assets of the Fund (including any assets attributable to indebtedness or any preferred shares that may be issued) minus the Fund’s liabilities other than liabilities relating to indebtedness. We define middle market companies as those with annual revenues up to $1 billion. The Fund’s portfolio will be deemed to be non-diversified under the 1940 Act, meaning it may invest a greater percentage of its assets in a single or limited number of issuers than a diversified fund.\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003eFocus on middle market companies with stable cash flow\u003c/i\u003e\u003c/b\u003e\u003cb\u003e. \u003c/b\u003eThe Fund believes that middle market lending is less competitive than the broadly syndicated loan market, and this is one factor that allows us to negotiate favorable investment terms. Such favorable terms include higher debt yields, more significant covenant protection and greater equity participation than typical of transactions involving larger companies. We generally invest in established companies with positive cash flow.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003eEmploy disciplined underwriting policies and rigorous portfolio management\u003c/i\u003e\u003c/b\u003e\u003cb\u003e.\u003c/b\u003e Our Advisor employs an extensive underwriting process that includes a review of an investment memorandum, and analysis of competitive position, financial performance and industry dynamics of each potential portfolio company. In addition, our Advisor performs substantial due diligence on potential investments, and seeks to invest with management teams and/or private equity sponsors who have proven capabilities in building value. As part of the monitoring process for portfolio companies, our Advisor analyzes monthly (if available), quarterly, and annual financial statements versus the previous periods and year, reviews financial projections and may perform other procedures, including meeting with management, attending board meetings and reviewing compliance certificates and covenants.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003eFocus on long-term credit performance and principal protection\u003c/i\u003e\u003c/b\u003e\u003cb\u003e.\u003c/b\u003e Our Advisor structures our customized loan investments on a relatively conservative basis with relatively high cash yields, security interests (preferably first lien) where possible, cash origination fees, and appropriate leverage levels. Our Advisor seeks strong deal protection for our customized debt investments, including default penalties, information rights, board observation rights, and affirmative, negative and financial covenants, such as lien protection and prohibitions against change of control.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 0px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 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Fund","ticker":"FCRIX","initial_filling":"2016-12-13","effect":"2017-10-03","stage":"Active","sec_time_to_effective":"","class_name":"Class I","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Credit","latest_prospectus":"","prospectus_date":null,"advisor":"FS Credit Income Advisor, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0","annual_management_fee":"","management_fee_num":"1.60%","management_fee_calc_on":"Daily Gross Assets","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"ALPS Distributors, Inc.","administrator":"State Street Bank and Trust Company","custodian":"Nordea Bank AB (Oslo, Oslo, NO, Branch)","legal_counsel":"Drinker Biddle \u0026 Reath LLP","public_accounting_firm":"Ernst \u0026 Young LLP","transfer_agent":"DST Systems, Inc.","bloomberg_link":"","nav_share":"13.16","api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eFS Diversified Income Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a newly organized Delaware statutory trust that is registered under the Investment Company Act of 1940, as amended, as a non-diversified, closed-end management investment company and operates as an interval fund.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003ci\u003e\u003cb\u003eInvestment\u0026nbsp;\u003c/b\u003e\u003c/i\u003e\u003ci style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eObjective\u003c/b\u003e\u003c/i\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e.\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund’s investment objective is to provide current income and, to a lesser extent, capital appreciation. There can be no assurance that the Fund will be able to achieve its investment objective.\u003c/span\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies.\u003c/b\u003e\u003c/i\u003e\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund intends to invest its assets primarily in income-producing debt investments that FS Diversified Income Advisor believes have strong fundamental credit quality characteristics, such as: corporate credit, including loans, high yield bonds and mezzanine debt; direct loans to private middle-market companies; asset-backed securities, including securities collateralized by corporate loans, residential and commercial mortgages, student loans, credit card receivables, auto loans and other structured credit assets; illiquid opportunistic investments, including stressed or distressed credit assets; emerging market investments; insurance-related investments; municipal credit; infrastructure and infrastructure-related investments; certain credit derivatives such as credit default swaps; and any other asset or instrument having a similar target return profile.\u003c/span\u003e\u003c/div\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 316.667px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n 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Resource/Infrastructure","latest_prospectus":null,"prospectus_date":null,"advisor":null,"sub_advisor_1":null,"sub_advisor_2":null,"min_initial_investment":null,"min_follow_on_investment":null,"max_offering_size":null,"repurchase_amount":null,"repurchase_frequency":null,"max_total_sales_load":null,"max_commissions":null,"distribution_fee":null,"shareholder_servicing":null,"annual_management_fee":null,"management_fee_num":null,"management_fee_calc_on":null,"repurchase_fee":null,"incentive_fee":null,"incentive_fee_num":null,"incentive_fee_benchmark":null,"distributor":null,"administrator":null,"custodian":null,"legal_counsel":null,"public_accounting_firm":null,"transfer_agent":null,"bloomberg_link":null,"nav_share":null,"api_key_id":null,"description":null,"initial":true,"slug":"fs-energy-total-return-fund-db4034d0-db7d-42d7-8ab6-e8545aa2d519","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":4656,"as_of_date":"2020-07-31","amount":"23024215.27","fund_id":506},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":null,"expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":null,"distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":null,"estimated_value":null},{"id":453,"name":"FS Multi-Alternative Income Fund","ticker":"FNNIX","initial_filling":"2018-04-17","effect":"2019-08-02","stage":"Deregistered","sec_time_to_effective":"","class_name":"Class I","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"","initial":true,"slug":"fs-multi-alternative-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":5513,"as_of_date":"2021-07-31","amount":"9202354.81","fund_id":453},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":552,"name":"Fundrise Growth Tech Interval Fund, LLC","ticker":"Not Available","initial_filling":"2021-06-17","effect":"2022-05-11","stage":"Recently Filed","sec_time_to_effective":"","class_name":"Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"Equities","strategy":"Private Companies","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/1867090/000168035921000130/fundrisegrowthtechn206162021.htm","prospectus_date":"2021-06-17","advisor":"Fundrise Advisors, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"The Fundrise Platform by Fundrise, LLC","administrator":"Fundrise Advisors, LLC","custodian":"Millennium Trust Company, LLC","legal_counsel":"Stradley Ronon Stevens \u0026 Young, LLP","public_accounting_firm":"","transfer_agent":"Computershare, Inc.","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003e\u003cb style=\"font-style: italic;\"\u003eOverview: \u003c/b\u003eThe Fundrise Growth Tech Interval Fund, filed on 6/17/2021, represents the second interval fund filed by Fundrise, LLC. Their first was the \u003ca href=\"https://intervalfunds.org/funds/fundrise-real-estate-interval-fund-llc\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eFundrise Real Estate Interval Fund\u003c/a\u003e\u0026nbsp;which held over $275m in assets as of 6/30/2021.\u003c/p\u003e\u003cp class=\"\"\u003eWhile Fundrise built a brand on offering retail investors fractional shares of real estate investments through a series of REITs and their first interval fund, the Fundrise Growth Tech Interval Fund is focused on private investments into pre-IPO, late-stage technology companies.\u003c/p\u003e\u003cp class=\"\"\u003eThe move may appear to be a departure from Fundrise's core business, but their parent company Rise Companies Corp.'s mission focuses on expanding retail investor access to alternative asset investing, and they don't box themselves into the real estate sector. As such, Fundrise is well positioned to leverage their existing distribution channels, investor engagement platform, and automated compliance tools to gain a foothold in this space.\u003c/p\u003e\u003cp class=\"\"\u003eThe space itself is ripe for competition. At a time when the \u003ca href=\"https://www.sec.gov/news/testimony/gensler-2021-05-26\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eSEC is asking Congress for additional resources\u003c/a\u003e to manage a surge of IPOs, only one other interval fund offers retail investors similar access to pre-IPO companies - the Private Shares Fund (\u003ca href=\"https://intervalfunds.org/funds/sharespost-100-fund\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ePRIVX\u003c/a\u003e), formerly known as the SharesPost 100 Fund.\u0026nbsp;\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the fund's prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003e\u003ci\u003eThe Mission:\u003c/i\u003e\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e Rise Companies Corp. (“Rise Companies”), the Fund’s sponsor, owns and operates through its subsidiary Fundrise, LLC, an investment platform available both online at www.fundrise.com and through various mobile applications sponsored by Rise Companies (collectively referred to herein along with the Fund’s website www.fundriseintervalfund.com, the “Fundrise Platform”). Rise Companies believes in leveraging technology to build a better financial system that empowers individuals. With technology, Rise Companies can create a more efficient mechanism than the conventional financial system to invest in alternative assets. Please see “Plan of Distribution” for more information on Rise Companies’ mission to make alternative asset investing easier and more efficient for retail investors.\u003c/span\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003e\u003ci\u003eInvestment Objective:\u003c/i\u003e\u003c/b\u003e The Fund’s investment objective is to provide total return primarily through long-term capital appreciation. There can be no assurance that the Fund will achieve its investment objective.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cb style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb style=\"font-size: 0.875rem;\"\u003e\u003ci\u003eInvestment Strategies:\u003c/i\u003e \u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eUnder normal circumstances, the Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in the securities of technology and technology-related companies (referred to herein as “technology companies”) and other investments (including derivatives) that provide the Fund with economic exposure to technology companies. Technology companies include companies operating in the information technology and telecommunication services sectors and companies operating in the following industries: internet and catalog retail; media; electrical equipment; biotechnology; health care equipment and supplies; and health care technology. Technology companies may also include, in the judgment of the Fund’s investment adviser, companies operating in other sectors, sub-sectors and industries.\u003c/span\u003e\u003c/p\u003e\u003cdiv\u003eThe Fund seeks to achieve its investment objective by investing in technology companies, with a primary focus on the equity securities (e.g., common stock, preferred stock, and convertible debt) of, or other investments (including derivatives) that provide the Fund with economic exposure to, certain privately held, late-stage, growth companies (“Portfolio Companies”). Late-stage companies are privately held companies that have typically demonstrated sustainable business operations and generally have a well-known product or service with a strong market presence. Late stage companies have generally reached a point of meaningful revenue generation from their core business operations with strong financial indicators of product-market fit. Late-stage private companies may also be referred to as “pre-IPO companies” (i.e., companies that are typically in their last few financing rounds before an initial public offering (“IPO”) or an exit event such as a sale or merger) and have previously been funded primarily by private institutional investors through pooled investment vehicles (commonly referred to as venture capital funds) and other institutional investment groups (“venture-backed companies”).\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003eThe ability to invest in privately held, late-stage technology companies can offer the potential to capture more upside potential than investments in the securities of technology companies that are already publicly traded. The Fund’s portfolio management team seeks to capture this value accretion, or what may be referred to as a private-public valuation arbitrage, by investing primarily in Portfolio Companies that they believe have high growth potential.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003eThe Fund generally seeks to invest in primary and secondary offerings of Portfolio Companies with the goal of remaining invested until a liquidity event occurs, including but not limited to a public offering of the Portfolio Company’s shares, another round of private fund raising, or a sale or merger of the Portfolio Company. Upon the occurrence of a liquidity event with respect to a Portfolio Company, such as an initial public offering or a merger or acquisition transaction, the Fund may or may not choose to sell its investment in the Portfolio Company.\u003c/div\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eNotwithstanding the occurrence of such a liquidity event, the Fund may continue to hold securities of Portfolio Companies after those companies have gone public. This investment strategy is generally referred to as “Buy and Hold”.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eAdvisor\u003c/b\u003e: Fundrise Advisors, LLC\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eAdministrator\u003c/b\u003e: Fundrise Advisors, LLC\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eLegal Counsel\u003c/b\u003e: Stradley Ronon Stevens \u0026amp; Young, LLP\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003ePartner\u003c/b\u003e: \u003ca href=\"https://www.stradley.com/professionals/c/crovitz-sara?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eSara P. Crovitz\u003c/a\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eDistributor\u003c/b\u003e: The Fundrise Platform by Fundrise, LLC\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eCustodian\u003c/b\u003e: Millennium Trust Company, LLC\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eTransfer Agent\u003c/b\u003e: Computershare, Inc.\u003c/div\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 462px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none;\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"fundrise-growth-tech-interval-fund-llc","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"Quarterly, After Cash Flow","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":570,"name":"Fundrise Income Real Estate Fund, LLC","ticker":"Not Available","initial_filling":"2021-10-04","effect":"2022-02-03","stage":"Recently Filed","sec_time_to_effective":"","class_name":"COMMON SHARES","net_asset_source_link":"","total_asset_source_link":"","category":"CREDIT","strategy":"REAL ESTATE","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001885551/000113743921000951/firefllcn210012021.htm","prospectus_date":"2021-10-04","advisor":"Fundrise Advisors, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000,"min_follow_on_investment":"None","max_offering_size":null,"repurchase_amount":"5% to 25%","repurchase_frequency":"Quarterly","max_total_sales_load":"0%","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"0%","annual_management_fee":"0.85%","management_fee_num":"0.85","management_fee_calc_on":"Net Assets","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"Fundrise Advisors, LLC","custodian":"","legal_counsel":"Stradley Ronon Stevens \u0026 Young, LLP","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cdiv\u003e\u003cp class=\"MsoNormal\"\u003eFundrise registers its third interval fund, marking the first interval fund electing to be taxed as a REIT. The Fund's investment objective is to provide investors with attractive income and capital preservation, with the familiar minimum investment of just $1000.\u003cbr\u003e \u003c!--[endif]--\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\r\n\r\n\u003cp class=\"MsoNormal\"\u003eLike its flagship interval fund, the Fundrise Income Real Estate Fund expects to invest substantially all of its assets into real estate securities; however, this fund has a more direct approach, focused on originating, acquiring, and structuring real estate loans in income-generating properties.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\r\n\r\n\r\n\r\n\u003cp class=\"MsoNormal\"\u003eThe Fund seeks to achieve this by acquiring six existing Fundrise REITs, according to a recent \u003ca href=\"https://www.sec.gov/Archives/edgar/data/0001885551/000179420221000227/fundrisen148c.htm\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eN-14 filing\u003c/a\u003e, with the goal of providing quarterly liquidity to shareholders without substantially altering the investment strategies of the to-be-acquired funds. Additional stated benefits include reducing administrative costs, improving competition on deal flow, reducing risk through diversification, reducing leverage costs, and ultimately seeking to maximize returns to shareholders.\u003c/p\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/i\u003e\u003c/p\u003e\u003cp\u003e\u003ci\u003e\u003cb\u003eThe Fund:\u003c/b\u003e\u003c/i\u003e Fundrise Income Real Estate Fund, LLC (the “Fund”) is a newly organized Delaware limited liability company that is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a non-diversified, closed-end management investment company that is operated as an “interval fund.” The Fund intends to elect to be taxed as a real estate investment trust (a “REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”).\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003e\u003ci\u003eThe Mission:\u003c/i\u003e\u003c/b\u003e\u0026nbsp;Rise Companies Corp. (“Rise Companies”), the Fund’s sponsor, owns and operates through its subsidiary Fundrise, LLC, an investment platform available both online at \u003cu\u003ewww.fundrise.com\u003c/u\u003e and through various mobile applications sponsored by Rise Companies . Rise Companies believes in leveraging technology to build a better financial system that empowers individuals. With technology, Rise Companies can create a more efficient mechanism than the conventional financial system to invest in real estate and other alternative assets. Please see “Plan of Distribution” for more information on Rise Companies’ mission to make real estate and alternative asset investing easier and more efficient for retail investors.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003e\u003ci\u003eInvestment Objective:\u003c/i\u003e\u003c/b\u003e\u0026nbsp;The Fund’s investment objective is to seek to pay attractive, consistent cash distributions and to preserve, protect and return your capital contribution. The Fund’s investment objective is non-fundamental and may be changed by the Fund’s Board of Directors (the “Board”) without approval of the Fund’s shareholders (“Shareholders”). There can be no assurance that the Fund will achieve its investment objective.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003e\u003ci\u003eInvestment Strategies:\u003c/i\u003e\u003c/b\u003e\u0026nbsp;The Fund pursues its investment objective by originating, investing in and managing a portfolio of residential and commercial real estate investments. The Fund expects to invest substantially all of its assets to originate, acquire and structure real estate loans (including senior mortgage loans, subordinated mortgage loans (also referred to as B-Notes), mezzanine loans, and participations in such loans), to acquire investments in income generating properties and other real estate that generates current payments, to acquire, hold and finance land for future development, and to acquire investments in other residential and commercial real estate (including through co-investment arrangements, joint ventures, and majority-owned subsidiaries with rights to receive preferred economic returns (collectively, “Real Estate Investment Vehicles”)). The Fund may also invest in residential and commercial real estate-related debt securities (including commercial mortgage-backed securities (“CMBS”), residential mortgage-backed securities (“RMBS”), collateralized debt obligations (“CDOs”), and REIT senior unsecured debt), and other real estate-related assets. Under normal circumstances, the Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in residential and commercial real estate, the securities of real estate and real estate-related issuers, and real estate-related loans or other debt securities. For this purpose, real estate-related companies are those that derive at least 50% of their revenues or profits from the\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eownership, construction, management, financing or sale of real estate, or have at least 50% of the fair market value of their assets invested in real estate.\u003c/span\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eAdviser\u003c/b\u003e: Fundrise Advisors, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eAdministrator\u003c/b\u003e: Fundrise Advisors, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eLegal Counsel\u003c/b\u003e: Stradley Ronon Stevens \u0026amp; Young, LLP\u003c/p\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eLegal Partner: \u003c/b\u003e\u003ca href=\"https://www.stradley.com/professionals/c/crovitz-sara?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eSara P. Crovitz\u003c/a\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 93px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"fundrise-income-real-estate-fund-llc","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6163,"as_of_date":"2022-06-30","amount":"512401787.73","fund_id":570},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":1.26,"expense_ratio_net":1.26,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":1.26,"expense_ratio_net_class":1.26,"distribution_frequency":"Quarterly","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":295,"name":"Fundrise Real Estate Interval Fund, LLC","ticker":"Not Available","initial_filling":"2019-06-04","effect":"2020-12-18","stage":"Active","sec_time_to_effective":"563 Days","class_name":"Shares of Beneficial Interest","net_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001777677/000110465921142969/xslFormNPORT-P_X01/primary_doc.xml","total_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001777677/000110465921142969/xslFormNPORT-P_X01/primary_doc.xml","category":"Real Estate","strategy":"CRE \u0026 Publicly-traded Securities","latest_prospectus":"https://s3.amazonaws.com/fundrise-content/website-documents/c5086eae-9915-447e-a919-a5ce572cc1a3/21-32510-1_Fundrise%20Real%20Estate%20Interval%20Fund,%20LLC_424B3%20-%20AsFiled.pdf","prospectus_date":"2021-11-10","advisor":"Fundrise Advisors, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":10,"min_follow_on_investment":"$0","max_offering_size":1000000000,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"0","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"0.85%","management_fee_num":"0.85","management_fee_calc_on":"Daily Net Assets","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"Fundrise Advisors, LLC","custodian":"Millennium Trust Company, LLC","legal_counsel":"Goodwin Procter LLP","public_accounting_firm":"KPMG LLP","transfer_agent":"Computershare, Inc","bloomberg_link":"","nav_share":"12.18","api_key_id":null,"description":"\u003cp class=\"\"\u003eThe Fundrise Real Estate Interval Fund, LLC (the \"Fund\") went effective on 12/18/2020, and was intended to serve as Fundrise's eventual flagship fund. At the time of launch, Fundrise already had about 150,000 investors spread across a series of REITs and eREITs, and although the Fund is an interval fund, it also elected to be taxed as a REIT.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eCore benefits of launching the Fund into their existing investor community include a target offering of $1 billion, larger than their earlier REITs and thus intended to offer better diversification. It also offers quarterly liquidity and daily pricing, both advantages over their earlier REIT offering.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund was always intended to be distributed directly to Fundrise investors via their existing technology, and instead of working through the challenges of integrating with existing fund administrator and distributor technology platforms, Fundrise opted to self-administer and self-distribute the Fund.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eNotably, Fundrise lowered the Fund's minimum initial investment from $500 to just $10 in August 2021, and while other interval funds may opt to waive upfront minimums for investors that access their funds through custody platforms, this Fund now offers the lowest minimum investment stated in their SEC materials. The Fund had over $489 million in total assets as of 9/30/2021.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the fund's prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eThe Fund\u003c/b\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp\u003eFundrise Real Estate Interval Fund, LLC is organized as a Delaware limited liability company that is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a non-diversified, closed-end management investment company that is operated as an “interval fund.” The Fund intends to elect to be taxed as a real estate investment trust (a “REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”).\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eThe Mission\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp\u003eRise Companies Corp. (“Rise Companies”), the Fund’s sponsor, owns and operates through its subsidiary Fundrise, LLC, an investment platform available both online at \u003ci\u003ewww.fundrise.com\u003c/i\u003e and through various mobile applications sponsored by Rise Companies (collectively referred to herein along with the Fund’s website \u003ci\u003ewww.fundriseintervalfund.com\u003c/i\u003e, the “Fundrise Platform”). Rise Companies believes in leveraging technology to build a better financial system that empowers individuals. With technology, Rise Companies can create a more efficient mechanism than the conventional financial system to invest in real estate and other alternative assets. Please see “Plan of Distribution” for more information on Rise Companies’ mission to make real estate and alternative asset investing easier and more efficient for retail investors.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp\u003eThe Fund’s investment objective is to seek to generate current income while secondarily seeking long-term capital appreciation with low to moderate volatility and low correlation to the broader markets. There can be no assurance that the Fund will achieve its investment objective.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Strategies\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp\u003eThe Fund pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in a diversified portfolio of private real estate and publicly traded real estate-related investments. Such investments may be comprised of the following primary asset classes: (i) private commercial real estate (“CRE”) investments, primarily in the form of equity and debt (“Private CRE”), and (ii) publicly traded real estate debt and equity securities (“Publicly Traded Real Estate Securities”). The CRE assets underlying the Fund’s Private CRE and Publicly Traded Real Estate Securities include office, retail, multifamily residential and industrial properties. The Fund’s investments in Private CRE may include whole interests in real properties (under normal circumstances, the Fund does not expect to invest more than 50% of its net assets in whole interests in real properties), partial interests in real properties, mortgage debt, mezzanine debt (which is generally indebtedness secured by equity of an entity that owns real estate) and other private real estate investments, such as private equity real estate funds. The Fund may seek to originate, acquire and structure a wide variety of commercial real estate loans, including, without limitation, senior mortgage loans, subordinated mortgage loans (also referred to as B-Notes) or mezzanine loans, which may be in the form of whole loans, secured and unsecured loans, senior and second lien loans or similar investments, or participation interests in such loans or investments. The Fund’s investments in Publicly Traded Real Estate Securities may include commercial mortgage-backed securities, residential mortgage-backed securities and other equity or debt securities issued by real estate-related companies, REITs or real estate-related investment companies.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eThe Fund will typically gain exposure to its Private CRE through co-investment arrangements, joint ventures or wholly owned subsidiaries (collectively, “Real Estate Investment Vehicles”). The potential investment structure of the Real Estate Investment Vehicles themselves may also vary. The Real Estate Investment Vehicles may be entities, including special purpose vehicles, in which the Fund has a majority or minority interest or wholly owned subsidiaries of the Fund. The Real Estate Investment Vehicles are expected to primarily consist of entities in which the Fund will co-invest alongside affiliates of the Fund, including those of the Adviser (“Co-Investment Entities”), subject to the terms and conditions of an exemptive order the Fund received from the SEC allowing the Fund and/or the Co-Investment Entities to co-invest alongside certain entities affiliated with or managed by the Adviser (including the “eREITs®” and “eFundTM” described in the Prospectus). To a lesser extent, the Real Estate Investment Vehicles may also consist of wholly owned subsidiaries of the Fund (“Wholly Owned Entities”) and entities in which the Fund will co-invest solely alongside unaffiliated third party investors (“Joint Venture Entities”).\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdviser: \u003c/b\u003eFundrise Advisors, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdministrator: \u003c/b\u003eFundrise Advisors, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eCustodian: \u003c/b\u003eMillennium Trust Company, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eLegal Counsel: \u003c/b\u003eGoodwin Procter LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.goodwinlaw.com/professionals/d/delligatti-paul?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ePaul J. Delligatti\u003c/a\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePublic Accounting Firm: \u003c/b\u003eKPMG LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eTransfer Agent: \u003c/b\u003eComputershare, Inc.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 304px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" 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124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"fundrise-real-estate-interval-fund-llc","holding_percentages":null,"last_net_asset":484790008,"last_total_asset":{"id":6120,"as_of_date":"2022-06-30","amount":"1208266537.6","fund_id":295},"one_year_return":null,"current_yield":2.48,"total_return_gross":null,"expense_ratio":1.45,"total_return":null,"current_yield_percentage":2.48,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":1.45,"expense_ratio_net":1.45,"current_yield_over_time":2.48,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":1.45,"expense_ratio_net_class":1.45,"distribution_frequency":"Quarterly","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":531,"name":"GL Beyond Income 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Sachs Credit Income Fund","ticker":"GCIQX","initial_filling":"2019-12-10","effect":"2020-03-06","stage":"Deregistered","sec_time_to_effective":"","class_name":"Class W","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Credit","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001796233/000119312520041976/d881731dn2a.htm","prospectus_date":"2020-02-19","advisor":"Goldman Sachs Asset Management, L.P.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":2500,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"0%","max_commissions":"","distribution_fee":"0.25%","shareholder_servicing":"0.25%","annual_management_fee":"1.5%","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the fund's prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eThe Fund\u003c/b\u003e\u003c/p\u003e\u003cp\u003eGoldman Sachs Credit Income Fund, a newly organized Delaware statutory trust (the “Fund”), is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a diversified, closed-end management investment company. The Fund is offering common shares of beneficial interest (the “Shares”). The Fund is the successor to the Resource Credit Income Fund (the “Predecessor Fund”), a Delaware statutory trust, as a result of the reorganization of the Predecessor Fund into the Fund. The Fund’s strategies are similar to those of the Predecessor Fund. In addition, the Fund’s investment objective is generally aligned with that of the Predecessor Fund. \u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/p\u003e\u003cp\u003eThe Fund’s investment objective is to seek to provide attractive risk adjusted returns and current income.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund pursues its investment objective by investing, under normal circumstances, at least 80% of its Managed Assets in credit and credit related instruments. “Managed Assets” means the total assets of the Fund (including any assets attributable to borrowings for investment purposes) minus the sum of the Fund’s accrued liabilities (other than liabilities representing borrowings for investment purposes). Credit and credit related instruments include (but are not limited to): (i) fixed rate and floating rate debt securities; (ii) direct originations of loans and loan participations, including: (a) senior secured floating rate and fixed rate loans, (b) second lien or other subordinated or\u0026nbsp;unsecured floating rate and fixed rate loans, and (c) other types of secured or unsecured loans and loan participations with fixed, floating, or variable interest rates (including loans with fewer restrictive covenants, or “covenant-lite” loans); (iii) investments in corporate debt obligations, including bonds, notes, debentures, commercial paper and other obligations of corporations to pay interest and repay principal; (iv) debt issued by governments, their agencies, instrumentalities, and central banks; (v) preferred stock; (vi) interests in senior, mezzanine, and subordinated/equity tranches of collateralized loan obligations (“CLOs”), collateralized bond obligations (“CBOs”), collateralized debt obligations (“CDOs”) and other securitized investments; (vii) interests in or loans against risk retention vehicles established by managers or sponsors of securitized investment products; (viii) interests in private investment funds managed by unaffiliated institutional asset managers (“Private Investment Funds”) that invest principally in credit and/or credit related instruments, including funds structured as private real estate investment trusts (“REITs”); and (ix) shares of affiliated or unaffiliated SEC-registered investment companies that invest principally in credit and/or credit related instruments, including exchange-traded funds (“ETFs”), mutual funds (including index funds and actively-managed funds), and closed-end funds (including listed business development companies (“BDCs”) (collectively, “Public Investment Funds,” and together with Private Investment Funds, “Underlying Funds”)).\u003cbr\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" 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88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"goldman-sachs-credit-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":4.45,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":0.25,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":315,"name":"Goldman Sachs Opportunistic Credit Fund","ticker":"Not Available","initial_filling":"2009-03-02","effect":"2009-05-28","stage":"Deregistered","sec_time_to_effective":"","class_name":"Common Shares","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Credit","latest_prospectus":"","prospectus_date":null,"advisor":"Goldman Sachs Asset Management, L.P.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":null,"annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003ctable border=\"0\" style=\"font-size: 0.875rem;\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd valign=\"top\"\u003e\u003cbr\u003eThe\u0026nbsp;Goldman Sachs Opportunistic Credit Fund (the \"\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e\") is a newly organized, continuously offered, non-diversified, closed-end management investment company that is operated as an “interval fund.”\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cdiv\u003e\u003ctable border=\"0\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd valign=\"top\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e. The Fund seeks a total return comprised of income and capital appreciation.\u003cbr\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e. The Fund will\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eseek to achieve its investment objective by investing opportunistically in various credit-related instruments. Under normal market conditions, the Fund will invest at least 80% of its Net Assets in any one or in any combination of following categories of instruments: (i) investment grade fixed rate and floating rate income securities that are rated at the time of purchase at least BBB- by Standard and Poor’s or at least Baa3 by Moody’s, or have a comparable rating by another (NRSRO), or, if unrated are determined by the Investment Adviser to be of comparable quality; (ii) credit securities that are rated at the time of purchase below investment grade (BB, Ba or below) by an NRSRO or unrated credit securities that are deemed by the Investment Adviser to be of comparable quality, which securities are commonly referred to as “junk bonds” and are regarded as predominantly speculative with respect to the issuer’s capacity to pay interest and repay principal and which may include distressed and defaulted securities; (iii) loans and loan participations including: (a) Senior Loans, (b) Second Lien Loans and (c) other types of secured or unsecured loans with fixed, floating, or variable interest rates; (iv) convertible securities; (v) collateralized debt, bond and loan obligations; (vi) corporate debt obligations; (vii) bank obligations; (viii) preferred securities and trust preferred securities; (ix) structured securities;\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eand/or\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e(x) listed and unlisted, public and private, rated and unrated debt instruments and other obligations, including those of financially troubled companies (sometimes known as “Distressed” securities).\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003c/div\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 146.667px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"goldman-sachs-opportunistic-credit-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":5120,"as_of_date":"2013-09-30","amount":"468348217.0","fund_id":315},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":0.0,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":220,"name":"Goldman Sachs Real Estate Diversified Income Fund","ticker":"GSRHX","initial_filling":"2019-12-10","effect":"2020-03-06","stage":"Active","sec_time_to_effective":"87 Days","class_name":"Class A","net_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001796242/000119312521202843/d105567dncsrsa.htm","total_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001796242/000119312521202843/d105567dncsrsa.htm","category":"REAL ESTATE","strategy":"STRUCTURED CREDIT","latest_prospectus":"https://www.gsam.com/bin/gsam/servlets/LiteratureViewerServlet?pdflink=%2Fcontent%2Fdam%2Fgsam%2Fpdfs%2Fus%2Fen%2Fprospectus-and-regulatory%2Fprospectus%2FGS_Real_Estate_Diversified_Income_Fund_prospectus.pdf\u0026RequestURI=/content/gsam/us/en/advisors\u0026sa=n","prospectus_date":"2021-12-07","advisor":"Goldman Sachs Asset Management, L.P.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":2500,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5% to 25%","repurchase_frequency":"Quarterly","max_total_sales_load":"","max_commissions":"","distribution_fee":"0","shareholder_servicing":"0","annual_management_fee":"1.25%","management_fee_num":"1.25%","management_fee_calc_on":"Daily Net Assets","repurchase_fee":"0","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Goldman Sachs \u0026 Co. LLC","administrator":"Bank of New York Mellon","custodian":"Bank of New York Mellon","legal_counsel":"Dechert LLP","public_accounting_firm":"PricewaterhouseCoopers LLP","transfer_agent":"Goldman Sachs \u0026 Co. LLC","bloomberg_link":"https://www.bloomberg.com/quote/GSRHX:US","nav_share":"11.03","api_key_id":null,"description":"\u003cp class=\"\"\u003e\u003cb\u003eOverview: \u003c/b\u003eThe Goldman Sachs Real Estate Diversified Income Fund (the \"Fund\") was registered on 12/10/2019. The adviser Goldman Sachs Asset Management (\"GSAM\") is obviously a major incumbent in the broadly defined asset management space, with over $2.1t under management as of 2020.\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund aims to produce income and achieve capital appreciation, with low to moderate volatility and correlation to the broader equity markets, by investing in a portfolio of equity and debt instruments related to the real estate industry.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's Prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp\u003eGoldman Sachs Real Estate Diversified Income Fund, a newly organized Delaware statutory trust (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”), is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a diversified, closed-end management investment company.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e. The Fund’s investment objective is to seek to produce income and achieve capital appreciation with low to moderate volatility and low to moderate correlation to the broader equity markets.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e. The Fund pursues its investment objective by investing, under normal circumstances, at least 80% of its Managed Assets (as defined herein) (measured at the time of purchase) in a portfolio of equity and debt investments in issuers that are primarily engaged in or related to the real estate industry (“real estate industry companies”). An issuer is primarily engaged in or related to the real estate industry if it derives at least 50% of its gross revenues or net profits from the ownership, development, construction, financing, management or sale of commercial, industrial or residential real estate or interests therein. Real estate industry companies may include publicly traded real estate investment trusts and their foreign equivalents (“Public REITs”); real estate operating companies (“REOCs”); private real estate investment funds that invest in real estate equity (“Private Real Estate Equity Funds”) and private real estate investment funds that invest in real estate credit (“Private Real Estate Credit Funds”) managed by unaffiliated institutional asset managers (collectively, “Private Real Estate Investment Funds”); non-traded publicly registered real estate investment trusts (“Non-Traded REITs”); affiliated or unaffiliated SEC-registered investment companies that invest principally in real estate industry companies, including exchange-traded funds (“ETFs”), mutual funds (including index funds and actively-managed funds), and closed-end funds (collectively, “Public Investment Funds,” and together with Private Real Estate Investment Funds, “Underlying Funds”); and commercial mortgage-backed securities (“CMBS”). Real estate investment trusts (“REITs”) are pooled investment vehicles that invest primarily in income-producing real estate or real estate-related loans or interests; and REOCs are companies that invest in real estate and whose shares may trade on public exchanges. CMBS are a type of mortgage-backed security that is secured by a single commercial mortgage loan or a pool of commercial real estate loans. The Fund may invest up to 35% of its Managed Assets in CMBS.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eAdvisor\u003c/b\u003e: Goldman Sachs Asset Management, L.P.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eAdministrator\u003c/b\u003e: Bank of New York Mellon\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eLegal Counsel\u003c/b\u003e: Dechert LLP\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003ePartner\u003c/b\u003e: \u003ca href=\"https://www.dechert.com/people/b/stephen-bier.html?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eStephen H. Bier\u003c/a\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003ePublic Accounting Firm\u003c/b\u003e: PricewaterhouseCoopers LLP\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eDistributor\u003c/b\u003e: Goldman Sachs \u0026amp; Co. LLC\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eCustodian\u003c/b\u003e: Bank of New York Mellon\u003c/div\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv\u003e\u003cb\u003eTransfer Agent\u003c/b\u003e: Goldman Sachs \u0026amp; Co. LLC\u003c/div\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 566px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"goldman-sachs-real-estate-diversified-income-fund","holding_percentages":[{"name":"Heitman Core RE Debt Inc","percentage":"8.621246740423"},{"name":"Menlo Eq Abslute Retrn Fd","percentage":"5.363044729971"},{"name":"Ares RE Enhanced Inc Fund","percentage":"4.876095195435"},{"name":"Clarion Ventures","percentage":"4.54885051057"},{"name":"Sculptor RE Credit Fund","percentage":"3.741463213712"},{"name":"Life Storage Inc","percentage":"1.322137280798"},{"name":"Camden Property Trust","percentage":"1.037648865041"},{"name":"Invitation Homes Inc","percentage":"0.868164362959"},{"name":"MFA FINANCIAL INC","percentage":"0.831461524086"},{"name":"Starwood Property Trust Inc","percentage":"0.762241540333"}],"last_net_asset":285503910,"last_total_asset":{"id":6126,"as_of_date":"2022-06-30","amount":"635309277.68","fund_id":220},"one_year_return":null,"current_yield":5.65,"total_return_gross":null,"expense_ratio":1.79,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":1.79,"expense_ratio_net":1.79,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":1.79,"expense_ratio_net_class":1.79,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":195,"name":"Griffin Institutional Access Credit Fund","ticker":"CRDIX","initial_filling":"2016-06-03","effect":"2017-03-30","stage":"Active","sec_time_to_effective":"","class_name":"Class I","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Credit","latest_prospectus":"","prospectus_date":null,"advisor":"Griffin Capital Credit Advisor, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0","annual_management_fee":"","management_fee_num":"1.85%","management_fee_calc_on":"Daily Net Assets","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"ALPS Distributors, Inc.","administrator":"ALPS Fund Services, Inc.","custodian":"The Bank of New York Mellon Trust Company","legal_counsel":"Greenberg Traurig, LLP","public_accounting_firm":"PricewaterhouseCoopers LLP","transfer_agent":"DST Systems, Inc.","bloomberg_link":"","nav_share":"24.02","api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eGriffin Institutional Access Global Credit Fund (the \"\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e\") is a continuously offered, non-diversified, closed-end management investment company. The Fund is an interval fund that will provide limited liquidity by offering to make quarterly repurchases of each class of shares at that class of shares’ net asset value, which will be calculated on a daily basis.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003eInvestment Objective\u003c/i\u003e\u003c/b\u003e. The Fund’s investment objective is to generate a return comprised of both current income and capital appreciation with an emphasis on current income with low volatility and low correlation to the broader markets.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies\u003c/i\u003e\u003c/b\u003e. The Fund pursues its investment objective by strategically investing in secured corporate and real estate debt (including senior secured, unitranche and second lien debt) and unsecured corporate and real estate debt (including senior unsecured and subordinated debt), as well as across private institutional real estate debt funds and a diversified set of public real estate debt and real estate debt-related securities. This approach enables the Adviser to allocate among public and private corporate debt securities and public and private real estate securities, and allows the Fund to invest across a diversified set of investment managers and strategies. The Fund anticipates allocating among the following asset categories or quadrants through the following sub-advisers:\u003c/p\u003e\u003cdiv\u003e\u003cdiv\u003e\u003c/div\u003e\u003cdiv\u003e\u003ci\u003ePrivate Corporate Debt\u003c/i\u003e:\u003c/div\u003eThe Fund will invest primarily in secured corporate debt (including senior secured, unitranche and second lien debt) and unsecured corporate debt (including senior unsecured and subordinated debt) issued by private or public U.S. companies (collectively, “Private Corporate Debt Investments”). The Fund may also invest in issuers outside the U.S. The Fund will focus its investment activities on companies that the Adviser believes have leading market positions, significant asset or franchise values, strong free cash flow, experienced senior management teams and high-quality sponsors (if the company is externally sponsored) without regard to market capitalization or geography. Under normal circumstances, Private Corporate Debt Investments securities will likely comprise between 10% and 75% of the Fund’s portfolio.\u003c/div\u003e\u003cdiv\u003e\u003cdiv\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003e\u003c/div\u003e\u003cdiv\u003e\u003ci\u003ePrivate Real Estate Debt:\u003c/i\u003e\u003c/div\u003eThe Fund will also invest in private real estate debt and real estate debt-related securities, primarily investments in private institutional real estate debt funds (“Private Real Estate Debt Funds”), as well as direct originated real estate loans (together with Private Real Estate Debt Funds, “Private Real Estate Debt Investments”). With respect to selecting the Private Real Estate Debt Funds in which the Fund invests, the Adviser considers various inputs, including quantitative and qualitative assessment of the management team and its track record, property evaluation and structure, and other information that is typically not available to an individual investor. Under normal circumstances, Private Real Estate Debt Investments will likely comprise between 10% and 75% of the Fund’s portfolio.\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eAdvisor\u003c/b\u003e: Griffin Capital Advisor, LLC\u003c/p\u003e\u003cp\u003e\u003cb\u003eAdministrator\u003c/b\u003e: ALPS Fund Services, Inc.\u003c/p\u003e\u003cp\u003e\u003cb\u003eLegal Counsel\u003c/b\u003e:\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eGreenberg Traurig, LLP\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cb\u003eLegal Partner:\u0026nbsp;\u003c/b\u003e\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003ca href=\"https://www.gtlaw.com/en/professionals/d/davis-terrence-o\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eTerrence O. Davis, Esq.\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003ePublic Accounting Firm:\u003c/b\u003e\u0026nbsp;\u003c/p\u003e\u003cp\u003e\u003cb\u003eDistributor: \u003c/b\u003eALPS Distributors, Inc.\u003c/p\u003e\u003cp\u003e\u003cb\u003eCustodian:\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eBank of New York Mellon Trust Company\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eTransfer Agent:\u003c/b\u003e DST Systems, Inc.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 339px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"griffin-institutional-access-real-estate-fund-45e73e5a-e602-43c7-89a9-e06d4e6321de","holding_percentages":[{"name":"Banff Merger Sub Inc","percentage":"0.539719482605"},{"name":"AVSC Holding Corp.","percentage":"0.47031809949"},{"name":"Citibank","percentage":"0.235176255703"},{"name":"Auris Luxembourg III S.a r.l.","percentage":"0.20867644767"},{"name":"Abc Supply Co Inc","percentage":"0.167480636183"},{"name":"Calpine Corp","percentage":"0.132494572226"},{"name":"IRB Holding Corp.","percentage":"0.118495690151"},{"name":"Mountain View Clo","percentage":"0.09619847401"},{"name":"Atlas Senior Loan Fund Ltd","percentage":"0.057523765141"},{"name":"GTT Communications B.V.","percentage":"0.027840076796"}],"last_net_asset":454348423,"last_total_asset":{"id":6031,"as_of_date":"2022-06-30","amount":"881744709.56","fund_id":195},"one_year_return":26.14,"current_yield":1.94,"total_return_gross":null,"expense_ratio":2.73,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":2.73,"expense_ratio_net":1.1,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":165,"name":"Griffin Institutional Access Real Estate Fund","ticker":"GRIFX","initial_filling":"2014-01-28","effect":"2014-06-30","stage":"Active","sec_time_to_effective":"153 Days","class_name":"Class M","net_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001597634/000175272421191081/xslFormNPORT-P_X01/primary_doc.xml","total_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001597634/000175272421191081/xslFormNPORT-P_X01/primary_doc.xml","category":"REAL ESTATE","strategy":"STRUCTURED CREDIT","latest_prospectus":"https://www.griffincapital.com/wp-content/uploads/2021/02/GIREX_Prospectus-ClassI.pdf","prospectus_date":"2021-02-01","advisor":"Griffin Capital Advisor, LLC","sub_advisor_1":"AON Hewitt Investment Consulting","sub_advisor_2":"CenterSquare Investment Management","min_initial_investment":1000000,"min_follow_on_investment":"$100","max_offering_size":null,"repurchase_amount":"5%","repurchase_frequency":"Quarterly","max_total_sales_load":"0","max_commissions":"","distribution_fee":"0","shareholder_servicing":"0","annual_management_fee":"1.50%","management_fee_num":"1.50","management_fee_calc_on":"Net Assets","repurchase_fee":"0","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"ALPS Distributors, Inc.","administrator":"ALPS Fund Services, Inc.","custodian":"UMB Bank, n.a.","legal_counsel":"Greenberg Traurig, LLP","public_accounting_firm":"BBD, LLP","transfer_agent":"DST Systems, Inc.","bloomberg_link":"https://www.bloomberg.com/quote/GRIFX:US","nav_share":"27.8","api_key_id":null,"description":"\u003cp class=\"\"\u003e\u003cb style=\"font-style: italic;\"\u003eOverview: \u003c/b\u003elaunched in 2014, with over $4b in managed assets as of June 2021, the Griffin Institutional Access Real Estate Fund is the largest real estate-focused interval fund, and the second-largest interval fund of any category.\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund's goal is to generate returns in the form of income and capital appreciation, with low market correlation, by investing in a range of established private real estate funds and public real estate securities.\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund touts management expertise as a value proposition. Griffin Capital has owned, managed, sponsored and/or cosponsored $20b in assets over its 22-year history. Sub-adviser of private real estate funds, Aon Hewitt Investment Consulting, manages over $112b in total assets. Sub-adviser of public real estate securities, CenterSquare Investment Management, manages over $14b in total assets.\u003c/p\u003e\u003cp class=\"\"\u003eDespite being one of the oldest and largest interval funds operating today, the Griffin Institutional Access Real Estate Fund offers multiple share classes with a minimum initial investment of $2500, or just $1000 when investing through retirement accounts.\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's Prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eGriffin Institutional Access Real Estate Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a continuously offered, non-diversified, closed-end management investment company that is operated as an interval fund.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Objective:\u003c/i\u003e\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund’s investment objective is to generate a return comprised of both current income and capital appreciation with moderate volatility and low correlation to the broader markets.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies:\u003c/i\u003e\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund pursues its investment objective by strategically investing across private institutional real estate investment funds as well as a diversified set of public real estate securities. This approach enables the Adviser to allocate between public and private real estate securities, and allows the Fund to invest across a diversified set of investment managers and strategies as well as providing investment exposure across property types and geographies.\u0026nbsp;\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eUnder normal circumstances, at least 80% of the Fund’s net assets plus borrowings for investment purposes will be invested in real estate securities (as defined below). The Fund executes its investment strategy primarily by seeking to invest in a broad portfolio of real estate securities across two major categories – Private Investment Funds (as defined below) and publicly traded real estate securities.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund may also invest in exchange traded funds (“ETFs”), index mutual funds (“Index Funds”), and Other Investment Vehicles (as defined below), as well as other publicly traded income producing equity and debt securities. In certain circumstances or market environments, the Fund may reduce its investment in real estate securities and hold a larger position in cash or cash equivalents. The Fund concentrates investments in the real estate industry, meaning that under normal circumstances, it invests over 25% of its assets in real estate securities. The Fund may invest in debt securities of any duration, maturity, or credit quality, including high yield securities.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eAdviser\u003c/b\u003e: Griffin Capital Advisor, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eSub-Adviser\u003c/b\u003e: AON Hewitt Investment Consulting\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eSub-Adviser\u003c/b\u003e: CenterSquare Investment Management\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eAdministrator\u003c/b\u003e: ALPS Fund Services, Inc.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eLegal Counsel\u003c/b\u003e: Greenberg Traurig, LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eLegal Partner: \u003c/b\u003e\u003ca href=\"https://www.gtlaw.com/en/professionals/d/davis-terrence-o?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eTerrence O. Davis, Esq.\u003c/a\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003ePublic Accounting Firm:\u003c/b\u003e BBD, LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eDistributor: \u003c/b\u003eALPS Distributors, Inc.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eCustodian: \u003c/b\u003eBank of New York Mellon Trust Company\u003c/p\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eTransfer Agent:\u003c/b\u003e DST Systems, Inc.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 534px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"griffin-institutional-access-real-estate-fund","holding_percentages":[{"name":"N/A","percentage":"4.143754625274"},{"name":"N/A","percentage":"3.813702344354"},{"name":"N/A","percentage":"2.759116409961"},{"name":"N/A","percentage":"0.857355089044"},{"name":"Mid-america Apartment Communities Inc","percentage":"0.555668876026"},{"name":"Store Capital Corp","percentage":"0.311517119586"},{"name":"Sabra Health Care Reit Inc","percentage":"0.150376087759"},{"name":"N/A","percentage":"0.124341563424"},{"name":"Seritage Growth Propert","percentage":"0.06835754148"},{"name":"Sunstone Hotel Investors","percentage":"0.049106426821"}],"last_net_asset":3832057068,"last_total_asset":{"id":6010,"as_of_date":"2022-06-30","amount":"6116064483.55","fund_id":165},"one_year_return":5.63,"current_yield":5.19,"total_return_gross":null,"expense_ratio":1.75,"total_return":28.25,"current_yield_percentage":5.24,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":0.02,"expense_ratio_net":1.75,"current_yield_over_time":null,"distribution_paid":1.34,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"500","expense_ratio_gross_class":null,"expense_ratio_net_class":1.75,"distribution_frequency":"Quarterly","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":515,"name":"Guidemark Alternative Lending Income Fund","ticker":"Not Available","initial_filling":"2015-11-13","effect":null,"stage":"Recently Filed","sec_time_to_effective":"","class_name":"Not Available","net_asset_source_link":"","total_asset_source_link":"","category":"Fixed Income","strategy":"Loans","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001657984/000160900616000411/guidemarkn2a04292016.htm","prospectus_date":"2016-04-29","advisor":"AssetMark, Inc.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"","max_commissions":"","distribution_fee":"0.25% (include shareholder servicing)","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cdiv align=\"left\"\u003e\u003cb\u003eAbout the Fund\u003c/b\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe GuideMark\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e®\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e Alternative Lending Income Fund (the “Fund”) is a Delaware statutory trust that is registered under the Investment Company Act of 1940 (the “1940 Act”) as a non-diversified, closed-end management investment company. The Fund operates as an interval fund pursuant to Rule 23c-3 under the 1940 Act. The Fund’s principal business is investing its assets pursuant to its investment objective and policies, as described in this Prospectus.\u003c/span\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv align=\"left\"\u003eThe Fund’s shares are not redeemable each business day. Without a secondary market, shares are not liquid, which means that they are not readily marketable. To provide shareholders with an opportunity to sell their shares at net asset value (“NAV”), the Fund will make quarterly repurchase offers, which are quarterly offers by the Fund to repurchase a designated percentage of the outstanding shares owned by the Fund’s shareholders (“Repurchase Offers”). The Fund offers to purchase only a portion of its shares each quarter, and there is no guarantee that investors will be able to sell all of their shares that they desire to sell in any particular repurchase offer. As a result, an investment in the Fund may not be suitable for investors that require liquidity. See “PERIODIC OFFERS TO REPURCHASE SHARES” below.\u003c/div\u003e\u003cdiv align=\"left\"\u003e\u003cbr\u003e\u003c/div\u003e\u003cp\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/p\u003e\u003cdiv align=\"left\"\u003eThe Fund’s investment objective is to provide a high level of current income. The Fund’s investment objective is non-fundamental and may be changed by the Board without\u0026nbsp;\u003c/div\u003e\u003cp\u003eshareholder approval.\u003c/p\u003e\u003cdiv align=\"left\"\u003e\u003cb\u003ePrincipal Investment Strategies of the Fund\u003c/b\u003e\u003c/div\u003e\u003cdiv align=\"justify\"\u003e\u003cbr\u003e\u003c/div\u003e\u003cp\u003eUnder normal market conditions, the Fund will seek to achieve its investment objective by investing, directly or indirectly, at least 80% of its net assets (plus any borrowings for investment purposes) in loans to consumers and small- and mid-sized companies originated through alternative lending platforms (“marketplace loans”). For purposes of this policy, the Fund may invest directly or indirectly in marketplace loans through various types of instruments, including: (a) whole loans originated through an alternative lending platform (or an affiliate thereof); (b) notes or other pass-through obligations issued by an alternative lending platform such as the purchase of borrower payment dependent notes (collectively, “Notes”) which represent the right to receive principal and interest payments on a fractional portion of an underlying loan; (c) asset-backed securities representing ownership in a pool of marketplace loans; and (d) pooled investment funds including private investment funds that are not registered under the 1940 Act (“private funds”), open-end or closed-end investment companies and exchange-traded funds (collectively, “Underlying Funds”) that provide exposure to marketplace loans (collectively, the “Marketplace Lending Instruments”).\u003c/p\u003e\u003cdiv align=\"justify\"\u003e\u003cbr\u003e\u003c/div\u003e\u003cp\u003eThe Fund intends to invest primarily in whole loans. The Fund may, however, invest without limit in any of the foregoing types of Marketplace Lending Instruments, except that the Fund will not invest greater than 45% of its net assets in Notes issued by any single alternative lending platform and the Fund’s investments in private funds will be limited to no more than 20% of the Fund’s net assets.\u003c/p\u003e\u003cdiv align=\"justify\"\u003e\u003cbr\u003e\u003c/div\u003e\u003cp\u003eThe Fund may also invest up to 20% of its net assets in other income-producing securities of any credit quality and maturity, as described in further detail below. The allocation of the Fund’s assets into these different types of investments will be determined by the Advisor in its sole discretion, based in part upon the Advisor’s anticipation of share repurchases as well as the availability of satisfactory Marketplace Lending Instruments that can be purchased by the Fund each month. During temporary defensive periods, the Fund may deviate from its investment objective and policies, and the Fund may invest all or a portion of its assets in certain short-term investments, including money market funds or high quality, short-term debt securities, or hold cash.\u003c/p\u003e\u003cdiv align=\"justify\"\u003eInvesting in the Fund involves substantial risks that arise from, among other things, the Fund’s investments in marketplace loans with varying degrees of credit risk, limited restrictions on borrower credit criteria, and limited recourse in the event that a borrower is unable or unwilling to repay a loan. Most marketplace loans are unsecured, not guaranteed or insured by a third-party or backed by any governmental agency. The Fund is not appropriate for all investors and should only be purchased by investors who can afford the loss of the entire amount of their investment. For information about risks of investing in the Fund, see “Principal Risks of Investing in the Fund” below.\u003c/div\u003e\u003cdiv align=\"justify\"\u003e\u003cbr\u003e\u003c/div\u003e\u003cp\u003eThe Fund’s principal investment strategies are non-fundamental and may be changed without shareholder approval.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 598.6666259765625px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"guidemark-alternative-lending-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":468,"name":"Hartford Schroders Opportunistic Income Fund","ticker":"HSQIX","initial_filling":"2019-07-16","effect":"2019-11-01","stage":"Active","sec_time_to_effective":"","class_name":"Class A2","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Credit","latest_prospectus":"","prospectus_date":null,"advisor":"","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"","initial":true,"slug":"hartford-schroders-opportunistic-income-fund-18cff08a-1404-4d4c-8751-234931024bd8","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":5523,"as_of_date":"2021-07-31","amount":"33971880.16","fund_id":468},"one_year_return":null,"current_yield":4.41,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":465,"name":"Hatteras Reinsurance Fund","ticker":"HREIX","initial_filling":"2018-05-15","effect":null,"stage":"Recently Filed","sec_time_to_effective":"","class_name":"Class I","net_asset_source_link":"","total_asset_source_link":"","category":"Securities","strategy":"Reinsurance","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001740082/000110465918033508/a18-13457_1n2.htm","prospectus_date":"2018-05-15","advisor":"Hatteras Funds, LP","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":5000000,"min_follow_on_investment":"$0","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0.25%","annual_management_fee":"1.7%","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"2% within 365 days, 0% otherwise","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the fund's prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eThe Fund and the Shares\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund is a newly organized Delaware statutory trust that is registered under the Investment Company Act as a non-diversified , closed-end management investment company. The Fund intends to operate as an interval fund (as defined below). The Fund was organized as a Delaware trust on [ ], 2018.\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund’s Shares are offered on a continuous basis at net asset value (“NAV”) per Share. The Fund may close at any time to new investments and, during such closings, only the reinvestment of dividends by existing shareholders will be permitted. The Fund may re-open to new investment and subsequently close again to new investment at any time at the discretion of the Adviser.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eInvestment Objective and Strategy\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund’s investment objective is to achieve long-term capital appreciation. The Fund pursues its investment objective primarily by investing in reinsurance-related securities, including event-linked bonds, shares or notes issued in connection with quota shares (“Quota Share Notes”), shares or notes issued in connection with excess-of-loss, stop-loss or other non-proportional reinsurance (“Excess of Loss Notes”), shares or notes issued in connection with industry loss warranties (“ILW Notes”) and, to a lesser extent, event-linked swaps, equity securities (publicly or privately offered) and the derivatives of equity securities of companies in the reinsurance and insurance industry (collectively, “reinsurance-related securities”). Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in reinsurance-related securities. Reinsurance-related securities typically are below investment-grade or are unrated. Reinsurance-related debt securities that are below investment-grade may be referred to as “junk bonds.” Accordingly, the Fund’s portfolio will be primarily invested in high yield, high risk securities. The Fund may also enter into other types of investments that enable the Fund to provide risk transfer services, as the Advisers may consider appropriate from time to time.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 558.6666259765625px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 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Dynamic Credit Opportunity Fund","ticker":"XCRTX","initial_filling":"2021-05-07","effect":"2021-07-21","stage":"Active","sec_time_to_effective":"75 Days","class_name":"Class A","net_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001393662/000119312521319626/d100031dncsrs.htm","total_asset_source_link":"https://www.sec.gov/Archives/edgar/data/0001393662/000119312521319626/d100031dncsrs.htm","category":"CREDIT","strategy":"GLOBAL DEBT","latest_prospectus":"https://connect.rightprospectus.com/Invesco/TADF/46091B108/P","prospectus_date":"2021-07-21","advisor":"Invesco Advisers, Inc.","sub_advisor_1":"Invesco Senior Secured Management, Inc.","sub_advisor_2":"Invesco Asset Management Limited","min_initial_investment":10000,"min_follow_on_investment":"$1000","max_offering_size":375000000,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"3.25%","max_commissions":"","distribution_fee":"0.25%","shareholder_servicing":"","annual_management_fee":"1.61%","management_fee_num":"1.61","management_fee_calc_on":"Net Assets","repurchase_fee":"0","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Invesco Distributors, Inc.","administrator":"Invesco Advisers, Inc.","custodian":"State Street Bank and Trust Company","legal_counsel":"Stradley Ronon Stevens \u0026 Young, LLP","public_accounting_firm":"PricewaterhouseCoopers LLP","transfer_agent":"Invesco Investment Services, Inc.","bloomberg_link":"","nav_share":"12.46","api_key_id":null,"description":"\u003cdiv\u003e\u003cp class=\"MsoNormal\"\u003eThe Invesco Dynamic Credit Opportunity Fund (the Fund) is the first interval fund to convert from an existing closed-end fund ($VTA), as we \u003ca href=\"https://intervalfunds.org/insights/invesco-registers-the-invesco-dynamic-credit-opportunity-fund\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ecovered earlier this year\u003c/a\u003e. The Fund was a product of activist manager Saba Capital buying a large enough stake, and agreeing to convert to an interval fund, offering relief to previous $VTA shareholders who had spent the better part of the last decade stuck with shares priced a discount of up to 8%.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eNow, shareholders of $VTA who didn't opt out hold Class AX shares of this Fund, and while a series of aggressive tender offers is set to commence in early 2022, shareholders may choose to hang on. Class AX shares were delivering a current yield of 7.22% as of 11/23/2021, with no return of capital in the 6 months ending 8/31/2021, and an annualized total return of 5.66% since inception.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eInvesco, headquartered in Atlanta, had over \u003ca href=\"https://ir.invesco.com/investor-relations/press-releases/press-release-details/2021/Invesco-Ltd.-Announces-September-30-2021-Assets-Under-Management/default.aspx\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e$1.52 billion\u003c/a\u003e under management as of 9/30/2021.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003eThe Fund:\u003c/i\u003e\u003c/b\u003e Invesco Dynamic Credit Opportunity Fund (the Fund) is organized as a Delaware statutory trust that is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as a non-diversified, closed-end management investment company that is operated as an interval fund.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003eInvestment Objectives:\u003c/i\u003e\u003c/b\u003e\u003ci\u003e \u003c/i\u003eThe Fund’s primary investment objective is to seek a high level of current income, with a secondary objective of capital appreciation. There can be no assurance that the Fund will achieve its investment objectives. You should carefully consider the risks of investing in the Fund. See “Risks.”\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003eOfferings:\u003c/i\u003e\u003c/b\u003e\u003ci\u003e \u003c/i\u003eThis prospectus is offering four classes of common shares of beneficial interest (collectively, the Shares or Common Shares) of the Fund, designated as Class A (Class A Shares), Class AX (Class AX Shares), Class Y (Class Y Shares) and Class R6 (Class R6 Shares). The Fund continuously offers its Class A Shares, Class Y Shares and Class R6 Shares through Invesco Distributors, Inc. (Invesco Distributors), as principal underwriter, and through selected broker-dealers and financial services firms. Class AX Shares of the Fund are closed to new investors. \u003ci\u003eOnly investors who have continuously maintained an account in Shares of Invesco Dynamic Credit Opportunities Fund, the Fund’s predecessor fund, prior to the closing of the reorganization of the predecessor fund into the Fund anticipated to occur in the second half of 2021 (the “Reorganization”), may continue to make additional purchases in their accounts in Class AX Shares of the Fund.\u003c/i\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies:\u003c/i\u003e\u003c/b\u003e\u003ci\u003e \u003c/i\u003eDepending on current market conditions and the Fund’s outlook over time, the Fund seeks to achieve its investment objectives by opportunistically investing primarily in credit securities of issuers which operate in a variety of industries and geographic regions located throughout the world. Under normal market conditions, the Fund will invest at least 80% of its net assets (including borrowings for investment purposes) in any combination of the following credit securities: (i) senior secured floating rate and fixed rate loans (“Senior Loans”); (ii) second lien or other subordinated or unsecured floating rate and fixed rate loans or debt; and (iii) other debt obligations, including high-yield, high-risk obligations. In complying with this 80% investment requirement, the Fund may invest in derivatives and other instruments that have economic characteristics similar to the Fund’s direct investments that are counted toward the 80% investment requirement.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eAdviser\u003c/b\u003e: Invesco Advisers, Inc.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\r\n\r\n\r\n\r\n\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eSub-Adviser\u003c/b\u003e: Invesco Senior Secured Management, Inc.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\r\n\r\n\r\n\r\n\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eSub-Adviser\u003c/b\u003e: Invesco Asset Management Limited\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\r\n\r\n\r\n\r\n\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eAdministrator\u003c/b\u003e: Invesco Advisers, Inc.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\r\n\r\n\r\n\r\n\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eLegal Counsel\u003c/b\u003e: Stradley Ronon Stevens \u0026amp; Young, LLP\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\r\n\r\n\r\n\r\n\u003cp class=\"MsoNormal\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.stradley.com/professionals/d/diclemente-matthew-r?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eMatthew R. DiClemente\u003c/a\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\r\n\r\n\r\n\r\n\u003cp class=\"MsoNormal\"\u003e\u003cb\u003ePublic Accounting Firm\u003c/b\u003e: PricewaterhouseCoopers LLP\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\r\n\r\n\r\n\r\n\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eDistributor\u003c/b\u003e: Invesco Distributors, Inc.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\r\n\r\n\r\n\r\n\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eCustodian\u003c/b\u003e: State Street Bank and Trust Company\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\r\n\r\n\r\n\r\n\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eTransfer Agent\u003c/b\u003e: Invesco Investment Services, Inc.\u003c/p\u003e\u003c/div\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 186.181px; display: none;\"\u003e\r\n \u003cbutton 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81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"invesco-dynamic-credit-opportunity-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6154,"as_of_date":"2022-05-31","amount":"911324616.31","fund_id":562},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":2.29,"total_return":null,"current_yield_percentage":7.22,"redemption_fee":null,"twelve_b_one_fee":0.25,"expense_ratio_gross":2.29,"expense_ratio_net":2.29,"current_yield_over_time":7.22,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":2.29,"expense_ratio_net_class":2.29,"distribution_frequency":"Quarterly","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":188,"name":"Invesco Senior Loan 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Investment Services, Inc.","bloomberg_link":"","nav_share":"5.94","api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe\u0026nbsp;Invesco Senior Loan Fund (the \"\u003cb\u003e\u003ci\u003eFund\u003c/i\u003e\u003c/b\u003e\") is a diversified, closed-end management investment company. The Fund completed an initial public offering in October 1989. The Fund was organized as a Massachusetts business trust on July 14, 1989, and was redomesticated as a Delaware statutory trust on October 15, 2012. The Fund has continuously offered its Shares since November 1989.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e.\u0026nbsp;The Fund’s investment objective is to provide a high level of current income, consistent with preservation of capital. Although the Fund seeks capital preservation, it is not a money market fund or a certificate of deposit, and it differs substantially from these products with respect to\u0026nbsp; risks and liquidity, among other factors. There is no assurance that the Fund will achieve its investment objective.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies\u003c/i\u003e\u003c/b\u003e.\u0026nbsp;The Fund invests under normal circumstances at least 80% of its net assets (plus any borrowings for investment purposes) in adjustable rate senior loans (“Senior Loans”). Senior Loans are loans made to borrowers that may be corporations, partnerships or other entities (“Borrowers”). These Borrowers operate in a variety of industries and geographic regions, although most Senior Loans are made to Borrowers that are organized or located in the U.S.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 337.333px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"invesco-senior-loan-fund","holding_percentages":[{"name":"B\u0026B Hotels SAS","percentage":"0.430342093325"},{"name":"Neustar, Inc.","percentage":"0.335713761449"},{"name":"Sinclair Television Group, Inc.","percentage":"0.324408055844"},{"name":"Eastern Power LLC","percentage":"0.295915014136"},{"name":"Frontier Communications Corp.","percentage":"0.243054028599"},{"name":"Allison Transmission, Inc.","percentage":"0.125213707759"},{"name":"Advantage Sales \u0026 Marketing, 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\u0026 Company, Ltd.","transfer_agent":"Commonwealth Fund Services, Inc.","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's Prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund seeks to achieve its investment objective by investing, under normal market circumstances, a substantial portion of its assets in publicly listed equities of dividend-paying financial services companies (the “Portfolio Companies”). The Fund may also invest directly in certain mortgage-related securities and in reverse repurchase agreements. The Portfolio Companies invest their assets in residential and commercial loans and securities, and business loans to private companies. Additionally, the Portfolio Companies, either for investment or risk management purposes, will invest in various types of derivatives. Separately from the investment and risk management strategies employed by each of the Portfolio Companies, the Fund will also invest in derivatives instruments that are linked to, or provide investment exposure to, interest rate swap agreements that are utilized to hedge, or offset, the Fund’s market value risk associated with movements in longer-term U.S. Treasury rates, as determined by the Fund’s Adviser.\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 72px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none;\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 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\u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"kingsbarn-parallel-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":null,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":473,"name":"KKR Credit Opportunities Portfolio","ticker":"KCOPX","initial_filling":"2019-09-11","effect":"2020-02-28","stage":"Active","sec_time_to_effective":"153 Days","class_name":"Class U","net_asset_source_link":"","total_asset_source_link":"https://www.kkrfunds.com/KCOP#facts","category":"Credit","strategy":"Credit","latest_prospectus":"https://www.kkrfunds.com/fund-materials/KCOP_Prospectus_20210614.pdf","prospectus_date":"2021-06-14","advisor":"KKR Credit Advisors (US) LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"500","max_offering_size":null,"repurchase_amount":"1","repurchase_frequency":"Quarterly","max_total_sales_load":"0","max_commissions":"","distribution_fee":"0","shareholder_servicing":"0","annual_management_fee":"1.73%","management_fee_num":"1.73","management_fee_calc_on":"0.0173","repurchase_fee":"0","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"KKR Capital Markets LLC","administrator":"U.S. Bank Global Fund Services","custodian":"U.S. Bank, N.A.","legal_counsel":"Dechert LLP","public_accounting_firm":" Deloitte \u0026 Touche LLP","transfer_agent":"U.S. Bank Global Fund Services","bloomberg_link":"https://www.bloomberg.com/quote/KCOPX:US","nav_share":"28.04","api_key_id":null,"description":"\u003cp class=\"\"\u003e\u003cb\u003eInvestment Objective:\u003c/b\u003e The Fund’s investment objective is to seek to provide attractive risk-adjusted returns and high current income. There can be no assurance that the Fund will achieve its investment objective. \u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eInvestment Strategies:\u003c/b\u003e The Fund invests in a select portfolio of the Fund’s adviser’s publicly traded and private credit through exposure to two of its primary credit strategies: (a) Opportunistic Credit, a conviction-based approach investing in a portfolio consisting primarily of publicly traded high yield bonds (commonly referred to as “junk” bonds), first- and second-lien secured bank loans and structured credit (e.g., collateralized loan obligation (“CLO”) mezzanine debt) and (b) Private Credit, which includes directly originated hard and financial asset-based lending, corporate mezzanine debt, as well as directly originated first-lien, second-lien and unitranche senior loans to upper middle-market companies.\u003c/p\u003e\u003cp class=\"\"\u003eIn pursuing its investment objective, the Fund invests, under normal circumstances, at least 80% of its Managed Assets in senior and subordinated corporate debt and debt related instruments. Debt related instruments include bonds, secured bank loans, convertible securities, structured products (such as CLOs), convertible debt securities, repurchase agreements and municipal securities. The debt and debt related instruments in which the Fund invests may include those of issuers from the United States and other countries, including emerging market countries. The Fund can invest without limit in below investment grade debt and debt related instruments. When determining the attractiveness of anticipated return levels, the Adviser considers the risks inherent in the underlying investments.\u003c/p\u003e\u003cp class=\"\"\u003eDuring the Fund’s initial ramp period (which is expected to last approximately 12-18 months following the Fund’s commencement of operations in February 2020), the Fund invests substantially all of its assets in the Opportunistic Credit Strategy. Following that initial period, the Fund expects, under normal circumstances, to invest 70-80% of its Managed Assets in the Opportunistic Credit strategy and 20-30% of its Managed Assets in the Private Credit Strategy, though the Fund’s allocation in investments could vary from these guidelines at any time in the Fund’s discretion. Investment in the Private Credit Strategy is contingent upon the Fund first achieving sufficient scale to acquire such positions, and there can be no assurance that the Fund will ever raise sufficient assets to invest in the Private Credit Strategy. On at least a quarterly basis, the Fund’s Investment Committee meets to, among other things, review and establish the allocation percentage between the Opportunistic Credit Strategy and Private Credit Strategy for the ensuing period. The Investment Committee considers factors such as KKR’s macro-economic and market outlooks, assessment of the relative risk and return of each strategy, and other factors in making its determination. “Managed Assets” means the total assets of the Fund (including any assets attributable to borrowings for investment purposes) minus the sum of the Fund’s accrued liabilities (other than liabilities representing borrowings for investment purposes).\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eOpportunistic Credit Strategy:\u003c/b\u003e The Opportunistic Credit Strategy’s investment objective is to provide an attractive risk-adjusted return through investment in a diversified portfolio of fixed income securities and financial instruments. To achieve its investment objective, the Adviser utilizes a high conviction credit strategy with a broad mandate and flexibility to toggle among various asset classes including, but not limited to, publicly traded high yield bonds (commonly referred to as “junk” bonds), first- and second-lien secured bank loans and structured credit (i.e., CLO mezzanine debt) and thematic approaches to investing depending on the credit market environment.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePrivate Credit Strategy:\u003c/b\u003e The Private Credit Strategy’s investment objective is to deliver attractive returns primarily in the form of contractual interest or coupon payments with a focus on principal protection, diversification, and, to a lesser degree, potential capital appreciation. The strategy makes investments in directly originated and negotiated financing instruments in what we believe are underserved and/or mispriced asset classes resultant from the withdrawal of global financial institutions from the financing market place and seeks to earn a premium for originating and holding a loan or other instrument to maturity.\u003cbr\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 0px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" 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LLC","administrator":" Ultimus Fund Solutions, LLC","custodian":"Fifth Third Bank","legal_counsel":"Strauss Troy CO., LPA","public_accounting_firm":"BBD, LLP","transfer_agent":" Ultimus Fund Solutions, LLC","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp\u003e\u003cb\u003eThe Fund:\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eLind Capital Partners Municipal Credit Income Fund (the “Fund”) is a newly organized Delaware statutory trust that is registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), as a non-diversified, closed-end management investment company. The Fund’s primary investment objectives are to generate high current income from investments in municipal securities exempt from federal income tax and capital preservation. Therefore, the Fund will primarily invest in high-yield, U.S. dollar denominated Municipal Bonds as described in this prospectus. High-yield bonds are also known as junk bonds.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Objective:\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund’s primary investment objectives are to generate high current income from investments in municipal securities exempt from federal income tax and capital preservation. Additional return via capital appreciation is a secondary investment objective of the Fund.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Strategy:\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund will primarily invest in high-yield, U.S. dollar denominated Municipal Bonds (commonly referred to as “sub-investment grade”), as rated by Moody’s Investor Service, Inc. (“Moody’s”), or equivalently rated by Standard \u0026amp; Poor’s Rating Services (“S\u0026amp;P”) or Fitch, Inc. (“Fitch”), or, if unrated, as determined by Lind Capital Partners to be of comparable quality. Municipal Bonds are debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of the issuance, exempt from federal income tax (“Municipal Bonds”); such bonds are generally issued by or on behalf of U.S. states, territories, or possessions and their political subdivisions, agencies, and instrumentalities.\u003c/span\u003e\u003c/p\u003e\u003cp\u003eThe Adviser anticipates a significant percentage of portfolio securities will not be rated by any rating agency. The Fund may also invest in higher rated Municipal Bonds and use derivatives such as options, futures contracts, or swap agreements to mitigate interest rate or credit risk. Additionally, the Fund may invest in mutual funds or ETFs for cash management purposes. The Fund focuses its investments on smaller issuers.\u003c/p\u003e\u003cp\u003eThe Fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its assets (plus any borrowings for investment purposes) in Municipal Bonds.\u003c/p\u003e\u003cp\u003eThe Fund’s portfolio will consist of fixed-rate securities with maturities of between 10 and 30 years. The Fund does not target an average portfolio duration or benchmark its portfolio to any bond index. The Fund’s average portfolio duration, as calculated by the Adviser, may vary significantly depending on market conditions and other factors. There is no limit on the maturity or duration of any individual security in which the Fund may invest.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 254px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"lind-capital-partners-municipal-credit-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6159,"as_of_date":"2022-07-31","amount":"17818848.06","fund_id":566},"one_year_return":null,"current_yield":0.97,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":1.25,"expense_ratio_net":1.39,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"Monthly","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":379,"name":"Loomis Sayles Alternative Asset Based Solutions Income Fund","ticker":"Not Available","initial_filling":"2018-12-04","effect":null,"stage":"Filed - Not Yet Effective","sec_time_to_effective":"","class_name":"Institutional Class","net_asset_source_link":"","total_asset_source_link":"","category":"Alternative Assets","strategy":"Alternative Assets","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001757563/000119312518342198/d635077dn2.htm","prospectus_date":"2018-12-04","advisor":"Loomis Sayles \u0026 Company, L.P. ","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"$50","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"0%","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the fund's prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eThe Fund\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eLoomis Sayles Alternative Asset Based Solutions Income Fund (the “Fund”) is a newly organized Massachusetts business trust that is registered under the Investment Company Act of 1940 (the “1940 Act”) as a non-diversified, closed-end management investment company and is operated as an “interval fund” (as defined below). The Fund currently offers only Institutional Class Shares on a continuous basis. The Fund expects to offer [Retail] Class Shares (and possibly additional share classes) in the future, subject to obtaining an exemptive order from the Securities and Exchange Commission (the “SEC”).\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund seeks to provide attractive total returns through income generation and capital appreciation by investing in a wide range of publicly available and privately sourced asset-based opportunities. The secondary investment objective of the Fund is to outperform the Bloomberg Barclays U.S. Corporate High Yield Bond Index (the “Index”) while exhibiting lower volatility than and low correlation to the Index over a full market cycle.\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund seeks to achieve its investment objective by investing across a broad range of real, financial, and other asset-based opportunities. Within each sector, the Fund seeks to identify investments with attractive total returns, which could be in public securities, such as asset-backed securitizations, or in privately sourced, less liquid opportunities, such as whole loans and residual equity securities. The Fund has the ability to allocate its capital across multiple sectors, including, but not limited to, the following:\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e \u003cb\u003e\u003ci\u003eConsumer-Related Assets\u003c/i\u003e\u003c/b\u003e. The Fund may invest in consumer asset-backed securities (“ABS”) related to automobile loans and leases, credit card receivables, student loans and other ABS, and other instruments secured by consumer-related financial and/or physical assets, as well as publicly and/or privately sourced debt and equity securities associated with consumer assets.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb style=\"font-size: 0.875rem;\"\u003e\u003ci\u003eResidential Real Estate\u003c/i\u003e\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e. The Fund may invest in residential mortgage-backed securities (”RMBS”), as well as publicly and/or privately sourced debt and equity securities associated with residential real estate, including, but not limited to, residential \u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003enon-performing\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e and \u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003ere-performing\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e loans, newly originated mortgages, and residential construction loans.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb style=\"font-size: 0.875rem;\"\u003e\u003ci\u003eCommercial Real Estate\u003c/i\u003e\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e. The Fund may invest in commercial mortgage-backed securities (“CMBS”), as well as publicly and/or privately sourced debt and equity securities and other ownership interests associated with commercial real estate, including, but not limited to, whole and mezzanine loans, bridge financing, and pools of such loans.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb style=\"font-size: 0.875rem;\"\u003e\u003ci\u003eTransportation and Equipment Assets\u003c/i\u003e\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e. The Fund may invest in debt and equity tranches of ABS relating to commercial equipment, as well as publicly and/or privately sourced debt and equity securities associated with transportation and equipment, including, but not limited to, aircraft, rail cars and containers.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb style=\"font-size: 0.875rem;\"\u003e\u003ci\u003eBusiness-to-Business Related Assets.\u003c/i\u003e\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e The Fund may invest in various publicly and/or privately sourced \u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003ebusiness-to-business\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e opportunities, including, but not limited to, whole business, dealer floorplan, and venture lending securitizations/financings.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e \u003c/span\u003e\u003cb style=\"font-size: 0.875rem;\"\u003e\u003ci\u003eIntangible and Other Assets\u003c/i\u003e\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e. The Fund may invest in various publicly and/or privately sourced intangible and/or other assets, including, but not limited to, future streams of cash flows/royalties, structured legal settlements and insurance-related assets.\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund will opportunistically allocate capital between public securities and private investments within and across the targeted sectors based on each sector’s or asset class’s appeal within its respective market cycle. The proportion of public securities and private investments will be dependent on the Fund’s assets under management, the investments available within the marketplace at any particular time and the views of the portfolio management team about the relative attractiveness of public securities versus private investments. The Fund will also seek to capture illiquidity discounts and opportunities created from dislocations in liquid, public markets. To the extent consistent with the applicable liquidity requirements for interval funds pursuant to Rule \u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e23c-3\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e under the 1940 Act, the Fund may invest without limitation in illiquid securities.\u003c/span\u003e\u003c/p\u003e\u003cp\u003eWith respect to public securities available in the market, the Fund may invest in all types of fixed-income and equity securities across the capital structure and liquidity spectrum, including, but not limited to, ABS, residual equity tranches of ABS, investment grade and non-investmentgrade debt, loans, debentures and notes, deferred interest, pay-in-kind or zero coupon bonds/notes, and collateralized loan obligations (“CLOs”). The Fund’s investments in privately sourced opportunities may include, but are not limited to, common and preferred equity as well as senior, mezzanine, senior secured, second-lien, and unsecured bonds/loans. The Fund may purchase or receive warrants or equity in corporate entities as part of its investment in asset-based opportunities. During the initial period of investment operations, the Fund may hold a substantial portion of its assets in public securities as it seeks desirable privately sourced opportunities for the Fund’s portfolio.\u003c/p\u003e\u003cp\u003eThe Fund may invest without limit in securities of any credit quality, including securities that are rated below investment grade (“high yield” or “junk” bonds). The Fund uses the highest rating assigned by Fitch Investor Services, Inc. (“Fitch”), Moody’s Investors Service, Inc. (“Moody’s”) or Standard \u0026amp; Poor’s Ratings Group (“S\u0026amp;P”) to determine a security’s credit quality. If none of those rating agencies assign ratings to a particular security or issuer, the Adviser will use its internal rating to determine credit quality. The Fund’s investments in below investment grade securities may include securities of stressed and distressed issuers. There is no minimum rating for the securities in which the Fund may invest.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eIn connection with its principal investment strategies, the Fund may also invest a portion of its assets in (i) U.S. and \u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003enon-U.S.\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e government securities and other highly rated debt instruments, (ii) equity securities, including other investment companies, such as exchange-traded funds (“ETFs”), and real estate investment trusts (“REITs”), and (iii) derivatives, including futures contracts, forward contracts, options, swaps and hybrid instruments, for hedging or investment purposes. The Fund may also invest in foreign securities, including up to 20% in emerging market securities, and related hedging transactions with respect to foreign securities denominated in \u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003enon-U.S.\u003c/span\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e currencies (including foreign currency forwards and foreign currency futures). Additionally, the Fund may establish short exposures by investing in derivatives (including credit default swaps and interest rate swaps) or by engaging in short sales.\u003c/span\u003e\u003c/p\u003e\u003ctable cellspacing=\"0\" cellpadding=\"0\" width=\"100%\" border=\"0\" align=\"center\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd valign=\"bottom\"\u003e \u003c/td\u003e\u003ctd valign=\"top\"\u003e\u003cp\u003eThe Fund is non-diversified, which means it may invest a greater portion of its assets in a particular issuer and may invest in fewer issuers than a diversified fund. Because the Fund may invest in the securities of fewer issuers, an investment in the Fund may involve a higher degree of risk than would be present in a diversified portfolio.\u003c/p\u003e\u003cp\u003eIn seeking to achieve its investment objective, the Fund may add leverage to its portfolio through direct borrowing and/or through entering into reverse repurchase agreements or derivative transactions that create leverage.\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 598.6666259765625px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"loomis-sayles-alternative-asset-based-solutions-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"1","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":260,"name":"Lord Abbett Credit Opportunities Fund","ticker":"LCRDX","initial_filling":"2018-09-28","effect":"2019-02-14","stage":"Active","sec_time_to_effective":"","class_name":"Class A","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Credit","latest_prospectus":"","prospectus_date":null,"advisor":"Lord, Abbett \u0026 Co. LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0","annual_management_fee":"","management_fee_num":"1.25%","management_fee_calc_on":"Net Assets","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Lord Abbett Distributor LLC","administrator":"Lord Abbett \u0026 Co. LLC","custodian":"Deutsche Bank (Malaysia) Berhad","legal_counsel":"Ropes \u0026 Gray LLP","public_accounting_firm":"Deloitte \u0026 Touche LLP","transfer_agent":"DST Systems, Inc.","bloomberg_link":"","nav_share":"10.36","api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eLord Abbett Credit Opportunities Fund (the “\u003cb\u003e\u003ci\u003eFund\u003c/i\u003e\u003c/b\u003e”) is a newly organized, non-diversified, closed-end management investment company that continuously offers its shares (the “Shares”) and is operated as an “interval fund.”\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Objective\u003c/i\u003e.\u003c/b\u003e The Fund’s investment objective is total return. No assurance can be given that the Fund’s investment objective will be achieved, and you could lose all of your investment in the Fund.\u003c/p\u003e\u003cp class=\"medium-insert-active\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"medium-insert-active\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Strategy\u003c/i\u003e.\u003c/b\u003e To pursue its objective, the Fund has flexibility to allocate its assets among a broad range of credit sectors, including the investment grade and high yield corporate, sovereign, municipal, and structured product sectors. The Fund has significant flexibility to adjust allocations over time while adapting to the market and economic environment. The Fund intends to be optimally positioned across sectors and along the credit curve, without any explicit duration target or liquidity limitations, in order to maximize exposure to favored industries and sectors, identify the strongest candidates within those industries or sectors, and select securities the Fund believes present the best risk/reward profiles. Under normal conditions, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in bonds and other fixed income instruments and derivative instruments intended to provide economic exposure to such securities.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 296px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"lord-abbett-credit-opportunities-fund-f407b5a4-6771-4185-8351-079209493301","holding_percentages":[{"name":"Fairstone Financial Issuance Trust I","percentage":"1.447623012758"},{"name":"Mclaren Finance PLC","percentage":"1.251289979157"},{"name":"Berry Petroleum Co LLC","percentage":"1.18004777092"},{"name":"SunPower Corp","percentage":"0.903076326815"},{"name":"OCP CLO Ltd","percentage":"0.275422622571"},{"name":"Cantor Commercial Real Estate Lending","percentage":"0.272980634086"},{"name":"Jindal Steel and Power Limited","percentage":"0.204214355077"},{"name":"Fairstone Financial Issuance Trust I","percentage":"0.033161034723"},{"name":"Newtek Small Business Loan Trust","percentage":"0.015825020758"},{"name":"Morgan Stanley Capital Services LLC","percentage":"-0.0075673346"}],"last_net_asset":null,"last_total_asset":{"id":6107,"as_of_date":"2022-06-30","amount":"967315863.69","fund_id":260},"one_year_return":43.16,"current_yield":14.51,"total_return_gross":null,"expense_ratio":3.79,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":3.79,"expense_ratio_net":1.5,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":318,"name":"Lord Abbett Floating Rate High Income Fund","ticker":"LFHAX","initial_filling":"2020-02-20","effect":"2020-09-30","stage":"Active","sec_time_to_effective":"","class_name":"Class A","net_asset_source_link":"","total_asset_source_link":"","category":"Floating Rate Income","strategy":"Floating or Adjustable Rate Instruments/Derivatives","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001802293/000093041320002304/c100350_n2a.htm","prospectus_date":"2020-09-21","advisor":"Lord, Abbett \u0026 Co. LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":2500,"min_follow_on_investment":"$100","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"2.5%","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"0.75%","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the fund's prospectus:\u003c/p\u003e\u003cp\u003e\u003cb\u003eThe Fund\u003c/b\u003e\u003c/p\u003e\u003cp\u003eLord Abbett Floating Rate High Income Fund (the “Fund”) is a newly organized, non-diversified, closed-end management investment company that continuously offers its shares (the “Shares”) and is operated as an “interval fund.” The Fund will offer three classes of Shares: Class A, Class I, and Class U.\u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/p\u003e\u003cp\u003eThe Fund’s investment objective is to seek a high level of current income. No assurance can be given that the Fund’s investment objective will be achieved, and you could lose all of your investment in the Fund.\u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Strategy\u003c/b\u003e\u003c/p\u003e\u003cp\u003eUnder normal conditions, the Fund pursues its investment objective by investing at least 80% of its net assets, plus the amount of any borrowings and the liquidation preference of any of the Fund’s preferred shares that may be outstanding, in floating or adjustable rate instruments and derivatives and other instruments that effectively enable the Fund to achieve a floating rate of income. A floating rate of income means a level of income that generally varies with changing interest rates. Lord, Abbett \u0026amp; Co. LLC, the Fund’s investment adviser (“Lord Abbett” or the “Adviser”), will seek to enhance the Fund’s return by the use of leverage.\u003c/p\u003e\u003cp\u003eThe floating or adjustable rate instruments in which the Fund may invest include, but are not limited to, senior secured or unsecured floating rate loans or debt; second lien or other subordinated secured or unsecured floating rate loans or debt; and floating-rate structured (or securitized) products, including collateralized loan obligations (“CLOs”). The senior and second lien or other subordinated loans in which the Fund may invest include, but are not limited to, bridge loans, novations, assignments, participations, and revolving credit facility loans. The other instruments that effectively enable the Fund to achieve a floating rate of income may include, but are not limited to, fixed-rate loans or debt with respect to which the Fund has entered into derivative instruments to effectively convert the fixed-rate interest payments into floating or adjustable rate interest payments, and exchange-traded funds or notes that provide exposure to floating or adjustable rate loans or obligations. The issuers of the floating or adjustable rate instruments in which the Fund invests may be located within and outside the United States, including in emerging market countries.\u003c/p\u003e\u003cp\u003eThe Fund may invest in senior and subordinated loans or debt securities of any maturity or credit quality. At any given time and from time to time substantially all of the Fund’s portfolio may consist of high yield (or below investment grade) debt instruments, including high yield bonds (commonly referred to as “junk” bonds). Below investment grade instruments are those that, at the time of investment, are rated Ba1 or lower by Moody’s and BB+ or lower by S\u0026amp;P or Fitch, or are comparably rated by other ratings agencies, or if unrated are determined by Lord Abbett to be of comparable quality. Instruments of below investment grade quality are regarded as having predominantly speculative characteristics with respect to an issuer’s capacity to pay interest and repay principal.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 37px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"lord-abbett-floating-rate-high-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":0.5,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":544,"name":"Lord Abbett Special Situations Income Fund","ticker":"LISSX","initial_filling":"2021-04-16","effect":"2021-07-16","stage":"Active","sec_time_to_effective":"91 Days","class_name":"Class I","net_asset_source_link":"","total_asset_source_link":"","category":"FIXED INCOME","strategy":"MULTI-ASSET","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001855299/000093041321001576/c102242_424b3.htm","prospectus_date":"2021-09-01","advisor":"Lord Abbett \u0026 Co. LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"0%","annual_management_fee":"1.25%","management_fee_num":"1.25","management_fee_calc_on":"Net Assets","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Lord Abbett Distributor LLC","administrator":"Lord Abbett","custodian":"State Street Bank and Trust Company","legal_counsel":"Ropes \u0026 Gray LLP","public_accounting_firm":"Deloitte \u0026 Touche LLP","transfer_agent":"DST Systems, Inc.","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eLord Abbett Special Situations Income Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a non-diversified, closed-end management investment company that continuously offers its shares and is operated as an “interval fund.”\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003eInvestment Objective:\u003c/i\u003e\u003c/b\u003e The Fund’s investment objective is total return. In pursuing its investment objective, the Fund will seek income as well as capital appreciation. No assurance can be given that the Fund’s investment objective will be achieved, and you could lose all of your investment in the Fund.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003eInvestment Strategy:\u003c/i\u003e\u003c/b\u003e To pursue its objective, the Fund has flexibility to allocate its capital among a broad range of asset classes and sectors, including corporate, sovereign, municipal, and structured products. The Fund will invest its assets in bonds, loans and other fixed income instruments and derivative instruments intended to provide economic exposure to such securities. The Fund may invest at every level of the capital structure, in securities across developed and emerging markets, in “stressed” securities and in special situations. Developments creating special situations may include, but are not limited to, complex, dislocated and distressed conditions such as mergers or acquisitions, spin-offs, litigation, bankruptcy proceedings and workouts, financial restructurings, new products, or management changes. The Fund has significant flexibility to adjust allocations over time while adapting to the market and economic environment. The Fund intends to be optimally positioned across asset classes, sectors and capital structure, without any explicit duration target or liquidity limitations, in order to maximize exposure to favored industries and sectors, identify the strongest candidates within those industries or sectors, and select securities the Fund believes present the best risk/reward profiles.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003ch3\u003e\u003cp\u003e\u003cb\u003eAdviser\u003c/b\u003e: Lord, Abbett \u0026amp; Co. LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eAdministrator\u003c/b\u003e: Lord Abbett\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eLegal Counsel\u003c/b\u003e: Ropes \u0026amp; Gray LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.ropesgray.com/en/biographies/c/bryan-chegwidden?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eBryan Chegwidden\u003c/a\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003ePublic Accounting Firm\u003c/b\u003e: Deloitte \u0026amp; Touche LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eDistributor\u003c/b\u003e: Lord Abbett Distributor LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eCustodian\u003c/b\u003e: State Street Bank and Trust Company\u003c/p\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eTransfer Agent\u003c/b\u003e: DST Systems, Inc.\u003c/p\u003e\u003c/h3\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 518px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"lord-abbett-special-situations-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6148,"as_of_date":"2022-06-30","amount":"57847667.04","fund_id":544},"one_year_return":null,"current_yield":0.63,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":1.85,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"Monthly","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":553,"name":"Monachil Credit Income Fund","ticker":"Not Available","initial_filling":"2021-06-21","effect":"2022-11-01","stage":"Recently Filed","sec_time_to_effective":"","class_name":"Class A","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Credit","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001867714/000110465921083519/tm2119929-2_n2.htm","prospectus_date":"2021-06-21","advisor":"Monachil Capital Partners LP","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":2500,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"5.75%","max_commissions":"","distribution_fee":"","shareholder_servicing":"0.25%","annual_management_fee":"1.25%","management_fee_num":"1.25","management_fee_calc_on":"0.0125","repurchase_fee":"","incentive_fee":"6%","incentive_fee_num":"6","incentive_fee_benchmark":"","distributor":"Foreside Financial Services, LLC","administrator":"UMB Fund Services, Inc.","custodian":"UMB Bank n.a.","legal_counsel":"Alston \u0026 Bird LLP","public_accounting_firm":"Not Available","transfer_agent":"UMB Fund Services, Inc.","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cdiv\u003e\u003cb\u003eInvestment Objective:\u003c/b\u003e The Fund’s investment objective is to provide investors with current income and attractive risk adjusted returns with relatively low correlation to the public equity and fixed income markets.\u003c/div\u003e\u003cdiv\u003e\u003cbr\u003e\u003c/div\u003e\u003cp\u003e\u003cb\u003ePrincipal Investment Strategies:\u003c/b\u003e\u0026nbsp;The Fund intends to generate returns by investing across an array of credit and asset backed sectors including secured and unsecured consumer credit, small business credit, asset backed loans and leases, infrastructure contracted assets, corporate debt and pools of corporate loans as well as collateralized debt obligations, collateralized loan obligations, and obligations of US and foreign borrowers and issuers, including emerging market borrowers and issuers.\u003c/p\u003e\u003cp\u003eThe Fund may also invest in shares of other pooled investment vehicles, including business development companies (“BDCs”) and registered investment companies. The Fund may hold such assets directly or through special purpose vehicles. See “Investment Objectives and Strategies — Investment Strategies and Overview of Investment Process.”\u003c/p\u003e\u003cdiv\u003eThe Fund may seek to provide exposure to certain securities that are not freely tradable in the U.S., such as Regulation S securities, as well as certain other securities that can only be purchased or held by a non-U.S. person or where it may be advantageous for the security or asset to be purchased or held by a non-U.S. person (“other restricted non-U.S. securities”) by investing through Wolf River Cayman, Ltd. (the “Subsidiary”), a wholly owned subsidiary of the Fund, which will invest in such securities. The Fund applies its investment restrictions, leverage limitions, and compliance policies and procedures, on a look-through basis, to the Subsidiary. Because the Fund may invest a substantial portion of its assets in the Subsidiary, which may hold certain of the investments described in this prospectus, the Fund may be considered to be investing indirectly in those investments through its Subsidiary. Therefore, references in this prospectus to investments by the Fund also may be deemed to include the Fund’s indirect investments through the Subsidiary. The Subsidiary is advised by the Investment Manager and has the same investment objective as the Fund, and any investment management agreement between the Subsidiary and the Investment Manager will be approved in the same manner as the investment management agreement between the Fund and the Investment Manager. The Subsidiary may also hold cash and invest in other instruments, including fixed-income investments, either as investments or to serve as margin or collateral for the Subsidiary’s other investments.\u003c/div\u003e\u003cdiv\u003e\u003cbr\u003e\u003c/div\u003e\u003cp\u003e\u003cb\u003ePredecessor Fund:\u003c/b\u003e\u0026nbsp;Simultaneous with the Fund beginning to accept offers to purchase Shares (“Commencement of Operations”), Wolf River INV LLC (the “Predecessor Fund”), reorganized with and transferred substantially all its assets into the Fund. The Predecessor Fund maintains an investment objective, strategies and investment policies, guidelines and restrictions that are, in all material respects, equivalent to those of the Fund. 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See “The Fund.” As an interval fund, the Fund will offer to make repurchases of no less than 5% of its outstanding shares at net asset value (“NAV”), on a quarterly basis, unless such offer is suspended or postponed in accordance with regulatory requirements. See “Quarterly Repurchases of Shares.” \u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Objective and Policies \u003c/b\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Objective. \u003c/i\u003e\u003c/b\u003eThe Fund’s investment objective is to seek total return consisting of high current income and longer-term capital appreciation. There can be no assurance that the Fund will achieve this objective. The Fund’s investment objective is non-fundamental and may be changed by the Board of Trustees (the “Board”) without shareholder approval. Shareholders will, however, receive at least 60 days’ prior notice of any change in this investment objective. \u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Strategy. \u003c/i\u003e\u003c/b\u003eThe Fund pursues its investment objective by investing in the following categories of securities and instruments: (i) traded and non-traded closed-end funds, including closed-end funds that operate as interval funds (“CEFs ”), business development companies (“BDCs”), real estate investment trusts (“REITs”) and master limited partnerships (“MLPs”, and together with CEFs, BDCs and REITs, the “Underlying Funds”); (ii) equities; and (iii) debt, including secured and unsecured floating and fixed rate loans, the debt obligations of stressed, distressed and bankrupt issuers, structured products, including but not limited to, mortgage-backed and other asset-backed securities and collateralized debt obligations, and bonds and other debt obligations, in each case when the Adviser believes such investments are undervalued in the marketplace due to factors such as capital structure, sales, earnings, or growth potential. In most cases, the securities of the Underlying Funds will be publicly-registered with the SEC and trade on a national securities exchange (the “Public Funds”), although the Fund may also invest in privately-placed securities of such Underlying Funds. Additionally, the Fund may invest in securities of Underlying Funds whose securities are publicly-registered but do not trade on a national securities exchange (“Non-Traded Funds”). The Adviser will attempt to acquire shares of Non-Traded Funds in the secondary market through auctions or otherwise attempt to purchase shares through cash tender offers. \u003c/p\u003e\u003cp\u003eIt is anticipated that a portion or all of the CEFs, BDCs and private and non-traded REITs in which the Fund invests will include CEFs, BDCs and non-traded REITs sponsored, organized and managed by the Adviser and its affiliates and private REITs not wholly-owned by the Fund but managed by an affiliate of the Adviser subject to the restrictions of the Investment Company Act of 1940, as amended (the “1940 Act”). \u003c/p\u003e\u003cp\u003eHowever, the Fund’s ability to execute its investment objective will be subject to the constraints imposed under the 1940 Act, including without limitation, Section 12(d)(1) thereunder. These restrictions may prevent the Fund from acquiring otherwise desirable investments in the amounts sought or at all. See “Portfolio Investments—Investment Companies” beginning on page 22, and see also “Risk Factors—Investment-Related Risks—Investment Company Risk” beginning on page 36 of this prospectus. \u003c/p\u003e\u003cp\u003eIn selecting Underlying Funds, the Adviser will opportunistically utilize a combination of short-term and longer-term investment strategies to seek to derive value from the discount and premium spreads associated with these funds. The Fund benefits if it purchases an Underlying Fund at a discount to its current net asset value (for BDCs and CEFs) or inherent equity value (for REITs and MLPs) as determined by the Adviser’s analysis, and the discount narrows following the Fund’s investment. The Fund may at times purchase Underlying Funds at a premium if the Adviser believes the premium will increase. Additionally, the Fund may purchase Underlying Funds without consideration of the premium or discount if the Adviser feels the Underlying Fund’s share price is artificially depressed by technical pressures and a near or medium term catalyst exists for the value of the Underlying Fund’s shares to increase. In seeking to achieve its investment objective, the Fund may take activist positions in the Underlying Funds in certain situations. The Fund directly, and therefore shareholders indirectly, will bear the expenses of the Underlying Funds.\u003c/p\u003e\u003cp\u003eIn selecting Non-Traded Funds, the Adviser will seek to acquire shares in the 1) secondary market through third party auctions and 2) through cash tender offers made by the Fund. Investments in Non-Traded Funds will be made for longer-term capital appreciation where the Adviser believes shares can be purchased in auctions or acquired through a tender offer for a substantial discount to the underlying equity value of the Non-Traded Fund, as determined by the Adviser. \u003c/p\u003e\u003cp\u003eThe Fund may also invest in Exchange-Traded Funds (“ETFs”) and Exchange-Traded Notes (“ETNs”). Although the Fund expects to maintain primarily long positions in the Underlying Funds, the Fund may take short positions in the Underlying Funds in order to establish hedging positions or for speculative purposes. Additionally, the Fund may invest in derivatives such as options, swaps and futures contracts in order to gain exposure to certain investments, hedge its exposure to certain Underlying Funds or markets, to establish speculative positions or as otherwise deemed appropriate by the Adviser. \u003c/p\u003e\u003cp\u003eThe Fund intends to invest across various markets in which the Adviser holds significant investment experience—primarily the leveraged loan, high yield, structured products, real estate, natural resources and stressed and distressed markets. These investments may include traded and non-traded,public and private, rated and unrated, debt and equity instruments and other obligations, including structured debt and equity instruments and financial derivatives. Investments may also include investments in stressed and distressed positions, which may include publicly-traded debt and equity securities, obligations that were privately placed with banks, insurance companies and other lending institutions, trade claims, accounts receivable and any other form of obligation recognized as a claim in a bankruptcy or workout process. The Fund may also invest in securities traded in foreign countries and denominated in foreign currencies and in cash and cash equivalents. \u003c/p\u003e\u003cp\u003eAs part of its investment strategy, the Fund may invest, from time to time, in securities or other instruments that are sold in private placements and that are neither listed on a national securities exchange, nor traded in the over-the-counter markets. The Fund may also receive equity or equity-related securities in connection with a workout transaction or may invest directly in equity securities. \u003c/p\u003e\u003cp\u003eThe Fund may employ currency hedges (either in the forward, futures or options markets) in certain circumstances to reduce currency risk and may engage in other derivative transactions for hedging or speculative purposes or to enhance total return. The Fund may also lend securities and engage in short sales of securities. The Fund may incur leverage through the use of a credit facility and may also use leverage through borrowings or the issuance of preferred shares. While the Fund has no present intention to issue preferred shares within the next twelve months, it is possible that an attractive preferred shares financing opportunity may arise, which the Fund may consider. In addition, the Fund may invest in the securities of companies whose capital structures are highly leveraged. \u003c/p\u003e\u003cp\u003eFrom time to time, the Adviser may also invest a portion of the Fund’s assets in short-term U.S. government obligations, certificates of deposit, commercial paper and other money market instruments, including repurchase agreements, with respect to such obligations and pooled investment vehicles (for example, money market funds) that invest in these obligations, to enable the Fund to make investments quickly, to serve as collateral with respect to certain of its investments, and for other cash management purposes. A greater percentage of Fund assets may be invested in such obligations if the Adviser believes that a defensive position is appropriate because of the outlook for security prices or in order to respond to adverse market, economic, business or political conditions.\u003c/p\u003e\u003cp\u003eThe Adviser has broad discretion to allocate the Fund’s assets among these investment categories and to change allocations as conditions warrant to the extent consistent with the Fund’s investment strategy and other limitations set forth in this Prospectus. The Fund has not imposed limitations on the portion of its assets that may be invested in any of the categories outlined above. The Fund will make investments in the categories outlined above when the Adviser believes such investments are undervalued in the marketplace due to factors such as capital structure, sales, earnings, or growth potential. The Fund generally engages in active and frequent trading of portfolio securities to achieve its principal investment objective and may sell or close out an investment when the securities of the companies involved in the transaction no longer meet the Fund’s expected return criteria when measured against prevailing market prices and the relative risks of the situation. \u003c/p\u003e\u003cp\u003eIn selecting investments for the Fund’s portfolio, the Adviser looks primarily for investable assets believed to be undervalued by the market or investments which may provide attractive levels of current income. A security or instrument may be undervalued because the market is not fully pricing an issuer’s current intrinsic value, the market does not properly assess the company’s assets, the market does not yet recognize its future potential, or the issuer may be temporarily out of favor. The Fund seeks to realize gains in the prices of those securities if and when other investors recognize their real or prospective worth.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 0px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"nexpoint-discount-yield-fund-247f8b8c-6c37-4376-a2d9-300ee0327a34","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":514,"name":"NexPoint Energy \u0026 Materials Opportunities Fund","ticker":"Not Available","initial_filling":"2016-03-03","effect":null,"stage":"Recently Filed","sec_time_to_effective":"","class_name":"Class A","net_asset_source_link":"","total_asset_source_link":"","category":"Fixed Income","strategy":"Energy \u0026 Materials Equities \u0026 Debt Securities","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001668238/000119312518242471/d599071dn2a.htm","prospectus_date":"2018-08-08","advisor":"NexPoint Advisors, L.P.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":500,"min_follow_on_investment":"$50","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"5.75%","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"0.25%","annual_management_fee":"1.25%","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the fund's prospectus:\u003c/p\u003e\u003cp\u003e\u003cb\u003eThe Fund\u003c/b\u003e\u003c/p\u003e\u003cp\u003eNexPoint Energy and Materials Opportunities Fund (the “Fund”) is a continuously offered, non-diversified, closed-end management investment company that intends to operate as an interval fund. \u003c/p\u003e\u003cp\u003eThis prospectus provides the information that a prospective investor should know about the Fund before investing. You are advised to read this prospectus carefully and to retain it for future reference. Additional information about the Fund, including a Statement of Additional Information (“SAI”) dated August 8, 2018, has been filed with the Securities and Exchange Commission (“SEC”). The SAI is available upon request and without charge by writing the Fund at c/o DST Systems, Inc. , 430 W. 7th Street, Kansas City, Missouri 64105, or by calling toll-free (844) 485-9167. The table of contents of the SAI appears on page 78 of this prospectus. You may request the Fund’s SAI, annual and semi-annual reports when available, and other information about the Fund or make shareholder inquiries by calling (844) 485-9167 or by visiting www.\u003ci\u003eNexPointFunds\u003c/i\u003e.com. The SAI, which is incorporated by reference into (legally made a part of) this prospectus, is also available on the SEC’s website at \u003ci\u003ewww.sec.gov.\u003c/i\u003e The address of the SEC’s website is provided solely for the information of prospective shareholders and is not intended to be an active link. \u003c/p\u003e\u003cp\u003e\u003cb\u003e\u0016Investment Objective\u003c/b\u003e\u003c/p\u003e\u003cp\u003eThe Fund’s investment objective is to seek total return consisting of high current income and longer-term capital appreciation. There can be no assurance that the Fund will achieve this objective. \u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Strategy\u003c/b\u003e\u003c/p\u003e\u003cp\u003eThe Fund pursues its investment objective by investing, under normal circumstances, at least 80% of its total assets (defined as net assets plus the amount of any borrowing for investment purposes) in the equity and debt securities of companies engaged in the energy and materials industries. Companies in the energy industry include those companies that have at least 50% of their assets, income, sales or profits committed to, or derived from, the production, processing, transportation and distribution of energy, including natural gas, natural gas liquids, oil, refined products, chemicals, power, and coal, as well as related equipment manufacturers. Companies in the materials industry include companies principally engaged in the discovery, development and processing of raw materials, including basic materials, such as metals, minerals and chemicals, which are used as inputs to manufacture other intermediate and finished products. Debt and equity securities of such companies may include common equity, preferred equity, convertible securities, warrants and other derivatives, depositary receipts, equity interests in Canadian Royal Trusts, senior secured debt, mezzanine debt, unsecured debt, and equity interests in master limited partnerships (“MLPs”).\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 37.3333740234375px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"nexpoint-energy-materials-opportunities-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"1","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":485,"name":"NexPoint Event-Driven Fund","ticker":"NXECX","initial_filling":"2016-04-19","effect":null,"stage":"Deregistered","sec_time_to_effective":"","class_name":"Class C","net_asset_source_link":"","total_asset_source_link":"","category":"Merger Arbitrage","strategy":"Merger Arbitrage","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001672514/000119312518212196/d672928dn2a.htm","prospectus_date":"2018-07-03","advisor":"NexPoint Advisors, L.P.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":500,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"0%","max_commissions":"","distribution_fee":"0.75%","shareholder_servicing":"0.25%","annual_management_fee":"1.25%","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the fund's prospectus:\u003c/p\u003e\u003cp\u003e\u003cb\u003eThe Fund \u003c/b\u003e\u003c/p\u003e\u003cp\u003eNexPoint Event-Driven Fund (the “Fund”) is a continuously offered, non-diversified, closed-end management investment company that intends to operate as an interval fund. See “The Fund.” As an interval fund, the Fund will offer to make repurchases of no less than 5% of its outstanding shares at net asset value (“NAV”), on a quarterly basis, unless such offer is suspended or postponed in accordance with regulatory requirements. See “Quarterly Repurchases of Shares.” \u003c/p\u003e\u003cp\u003e\u003cb\u003eInvestment Objective and Policies \u003c/b\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Objective. \u003c/i\u003e\u003c/b\u003eThe Fund’s investment objective is to seek long-term capital growth. The Fund’s investment objective is non-fundamental and may be changed by the Board of Trustees (the “Board”) without shareholder approval. Shareholders will, however, receive at least 60 days’ prior notice of any change in this investment objective. \u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Strategy. \u003c/i\u003e\u003c/b\u003eThe Fund pursues its investment objective by investing in equity and debt-like instruments of companies whose prices NexPoint Advisors, L.P. (the “Adviser”) believes are or will be impacted by a corporate event. The Fund will invest in the securities of companies participating in mergers, takeovers, tender offers, leveraged buyouts, spin-offs, liquidations, debt restructurings, minority purchases, or other special situations (“Corporate Reorganizations”). A variety of strategies can be employed to capitalize on the mispricing of corporate securities during Corporate Reorganizations, including transactions involving common and preferred stock, debt instruments and derivative securities. The Fund may invest in both U.S. and foreign securities, securities of companies of any market capitalization, and in debt securities of any maturity. The Fund may also invest in derivatives, such as options and total return swaps. \u003c/p\u003e\u003cp\u003e\u003cb\u003eMerger Arbitrage\u003c/b\u003e: Merger arbitrage is a highly specialized investment approach designed to profit from the successful completion of mergers, takeovers, tender offers, leveraged buyouts, spin-offs, liquidations and other corporate reorganizations. Merger arbitrage involves purchasing the shares of an announced acquisition target company at a discount to their expected value upon completion of the acquisition. The Fund may engage in selling securities short when the terms of a proposed acquisition call for the exchange of common stock and/or other securities. In such a case, the securities of the company to be acquired may be purchased and, at approximately the same time, an amount of the acquiring company’s common stock and/or other securities as per the terms of the transaction may be sold short. \u003c/p\u003e\u003cp\u003e\u003cb\u003eConvertible Arbitrage:\u003c/b\u003e Convertible arbitrage is a specialized strategy that seeks to profit from pricing inefficiencies between a company’s convertible securities and its underlying equity. The most common convertible arbitrage approach, and the strategy the Fund generally uses, matches a long position in the convertible security with a short position in the underlying common stock. The Fund seeks to purchase convertible securities at discounts to their expected future values and sell short shares of the underlying common stock in order to mitigate equity market movements. As stock prices rise and the convertible security becomes more equity sensitive, the Fund may sell short additional common shares in order to maintain the relationship between the convertible security and the underlying common stock. As stock prices fall, the Fund will typically buy back a portion of shares which it had sold short. Positions are typically designed to earn income from coupon or dividend payments and net gains from the purchase and sale of the convertible securities’ positions and the underlying common stocks.\u003c/p\u003e\u003cp\u003e\u003cb\u003eCapital Structure Arbitrage:\u003c/b\u003e Capital structure arbitrage seeks to profit from relative pricing discrepancies between related debt and/or equity securities. For example, when the Fund believes that unsecured securities are overvalued in relation to senior secured securities, the Fund may purchase a senior secured security of an issuer and sell short an unsecured security of the same issuer. In this example the trade would be profitable if credit quality spreads widened or if the issuer went bankrupt and the recovery rate for the senior debt was higher than anticipated. Another example might involve the Fund purchasing one class of common stock while selling short a different class of common stock of the same issuer. It is expected that, over time, the relative mispricing of the securities may decline, at which point the position will be liquidated. \u003c/p\u003e\u003cp\u003e\u003cb\u003eCorporate Event Strategies:\u003c/b\u003e The Fund also employs other arbitrage and corporate event strategies when market opportunities arise. Such investments may include distressed investments, SPACs (Special Purpose Acquisition Corporations), SEOs (Seasoned Equity Offerings), “price-pressure” trades, “dual-class” arbitrage and “closed-end fund” arbitrage, among other strategies. \u003c/p\u003e\u003cp\u003e\u003cb\u003eSpecial Situations Strategies:\u003c/b\u003e The Fund may invest in the securities of issuers based on expectations that the prices of such securities may change in the short term due to a special situation, like a stock buy-back, spin-off and split-off, credit rating upgrade, the outcome of litigation or other dispute, a positive earnings report, legislative or regulatory changes or other catalyst-driven event. The Fund may seek to profit from special situations by employing one or more arbitrage sub-strategies, including, but not limited to, capital structure arbitrage and convertible arbitrage, or the Fund may seek to use such strategies independently. \u003c/p\u003e\u003cp\u003e\u003cb\u003eDistressed/Restructuring Strategies:\u003c/b\u003e The Fund may invest in securities, including debt securities, of financially distressed companies and companies undergoing or expected to undergo bankruptcy or other insolvency proceedings. The Fund may invest in corporate bonds, privately held loans and other securities or obligations of companies that are highly leveraged, are experiencing financial difficulties or have filed for bankruptcy. The Fund may profit from its investments in such issuers if the issuers undergo successful restructurings or recapitalizations, undertake asset sales or participates in spin-off transactions. The Fund may also purchase securities in anticipation of a company’s recovery or turnaround or the liquidation of all or some of the company’s assets. \u003c/p\u003e\u003cp\u003e\u003cb\u003eOption Income Strategies:\u003c/b\u003e The Fund may sell, or “write,” call options on its portfolio securities. The Fund may also write call options on one or more baskets of stocks, such as the S\u0026amp;P 500 Index or an industry sub-group of the S\u0026amp;P 500 Index. The options written by the Fund are considered “covered” if the Fund owns the stocks or baskets of stocks against which the options are written. The Adviser may determine to purchase shares and sell call options on those shares at approximately the same time, although the sale of options on the Fund’s portfolio securities may occur at any time or not at all. The Adviser may utilize the option writing strategy at any time, including in a relatively flat or declining market environment, to earn premium income. The Fund may sell call options on substantially all of its portfolio securities. \u003c/p\u003e\u003cp\u003eThe Fund may utilize other options strategies, such as writing options on securities it does not currently own (known as “uncovered” options), buying or selling options when the Adviser believes they may be mispriced or may provide attractive opportunities to earn income, or engaging in risk-reversal transactions. In a risk-reversal transaction, the Adviser may buy put options and sell call options against a long stock position. \u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdditional Strategies:\u003c/b\u003e In addition to the above strategies, the Adviser may invest in other investments or utilize other strategies. For example, the Fund may pursue other event-driven strategies, including investing in companies that may be subject to significant regulatory issues or changes or may be exploring strategic alternatives. The success of those strategies will depend upon, among other things, the Adviser’s skill in evaluating the likelihood of the various potential outcomes and the market’s reaction to those outcomes. The Fund may also participate in other forms of arbitrage including, without limitation, share class arbitrage.\u003c/p\u003e\u003cp\u003eOpportunities for share class arbitrage may arise when there are pricing discrepancies between two separate share classes within an issuer’s capital structure. The Fund may concurrently take a long position in the lower-priced share class and short the higher-priced shares in anticipation of the spread between the two classes narrowing. Conversely, the Fund may also concurrently short the lower-priced share class and take a long position in the higher-priced shares in anticipation of the spread between the two classes widening. The Fund may also short the shares of a company in an announced transaction in anticipation that the deal will be terminated or deal terms will be re-negotiated.\u003c/p\u003e\u003cp\u003eThe Fund generally engages in active and frequent trading of portfolio securities to achieve its principal investment objective. The Fund may sell or close out a security when the securities of the companies involved in the transaction no longer meet the Fund’s expected return criteria when gauged by prevailing market prices and the relative risks of the situation. The Fund may, but is not required to, seek to reduce currency risk by hedging part or all of its exposure to various foreign currencies. \u003c/p\u003e\u003cp\u003eThe Adviser may invest the Fund’s assets in both negotiated, or “friendly,” reorganizations and non-negotiated, or “hostile,” takeover attempts, but in either case the Adviser’s primary considerations include the likelihood that the transaction will be successfully completed and its risk-adjusted profile. \u003c/p\u003e\u003cp\u003eWhile the Fund will usually invest in the common stock of the target company, it may also invest in other securities of the target such as convertible debentures, debt, American Depositary Receipts (ADRs), options, and bonds. Equity securities in which the Fund may invest include common stock, preferred stock, securities convertible into common stock, rights and warrants or securities or other instruments whose price is linked to the value of common stock. The Fund may invest in issuers of any market capitalization. Although the equity securities in which the Fund invests may be denominated in any currency and may be located in emerging markets without limit, the Fund will primarily invest in equity securities that are located in developed markets. Such investment may be denominated in U.S. dollars, non-U.S. currencies or multinational currency units. The Fund engages in active trading and may invest a portion of its assets to seek short-term capital appreciation. \u003c/p\u003e\u003cp\u003eThe Fund may also invest in debt securities of any kind, including debt securities of varying maturities, debt securities paying a fixed or fluctuating rate of interest, inflation-indexed bonds, structured notes, loan assignments, loan participations, asset-backed securities, debt securities convertible into equity securities, and securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities, by foreign governments or international agencies or supranational entities or by domestic or foreign private issuers. \u003c/p\u003e\u003cp\u003eThe Fund may employ a variety of hedging strategies to protect against issuer-related risk or other risks, including selling short the securities of the company that proposes to acquire the acquisition target. The Fund may use derivatives, including options, futures, forwards and swaps (including credit default swaps and total return equity swaps) as substitutes for securities in which the Fund can invest. The Fund may employ currency hedges (either in the forward, futures or options markets) in certain circumstances to reduce currency risk on investments in assets denominated in foreign currencies. The Fund may use derivatives to hedge various investments for risk management and for investment purposes, which is also known as speculation. The Fund may invest in derivative instruments, including for hedging and speculative purposes, to the extent permitted by the Investment Company Act of 1940, as amended (the “1940 Act”). \u003c/p\u003e\u003cp\u003eThe Fund may also invest in other investment companies, including exchange-traded funds (“ETFs”). To the extent that the Fund invests in shares of another investment company or ETF, the Fund bears its proportionate share of the expenses of the underlying investment company or ETF and is subject to the risks of the underlying investment company’s or ETF’s investments. \u003c/p\u003e\u003cp class=\"\"\u003eThe Adviser may sell securities at any time, including if the Adviser’s evaluation of the risk/reward ratio is no longer favorable. Additionally, since closed-end funds are not subject to the continuous asset in-flows and out-flows experienced by open-end funds that can complicate portfolio management, closed-end funds generally can stay more fully invested in securities consistent with the closed-end fund’s investment objective and policies and have greater flexibility in their ability to make certain types of investments, including investments in illiquid securities.\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund may also from time-to-time lend its portfolio securities in accordance with existing SEC guidance.\u0026nbsp;\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 36px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" 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\u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"nexpoint-event-driven-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":321,"name":"NexPoint Healthcare Opportunities Fund","ticker":"NXHAX","initial_filling":"2016-03-04","effect":"2018-05-10","stage":"Deregistered","sec_time_to_effective":"","class_name":"Class A","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"NexPoint Advisors, L.P.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0.25","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eNexPoint Healthcare Opportunities Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a newly-organized, continuously offered, non-diversified, closed-end management investment company that intends to operate as an interval fund. As an interval fund, the Fund will offer to make repurchases of no less than 5% of its outstanding shares at net asset value (“NAV”), on a quarterly basis, unless such offer is suspended or postponed in accordance with regulatory requirements.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e. The Fund’s investment objective is to seek total return consisting of high current income and longer-term capital appreciation. There can be no assurance that the Fund will achieve this objective. The Fund’s investment objective is non-fundamental and may be changed by the Board of Trustees (the “Board”) without shareholder approval. Shareholders will, however, receive at least 60 days’ prior notice of any change in this investment objective.\u003c/p\u003e\u003cp class=\"medium-insert-active\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"medium-insert-active\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e. The Fund pursues its investment objective by investing, under normal circumstances, at least 80% of its total assets (defined as net assets plus the amount of any borrowing for investment purposes) (the “80% Policy”) in the securities of U.S. and non-U.S. companies engaged in the healthcare industry (“Healthcare Companies”). A company will be deemed to be a Healthcare Company if, at the time the Fund makes an investment in a company, 50% or more of such company’s sales, earnings or assets arise from or are dedicated to healthcare products or services or medical technology activities. Healthcare Companies may include companies in one or more of the following sub-sectors: pharmaceuticals, biotechnology, managed care, life science and tools, healthcare technology, healthcare services, healthcare supplies, healthcare facilities, healthcare equipment, healthcare distributors, Healthcare REITs and other healthcare-related research and development activities. Additionally, we consider the term Healthcare Company to include companies that are materially impacted by the healthcare industry, such as a contractor that derives significant revenue or profit from the construction of hospitals.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 358px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"nexpoint-healthcare-opportunities-fund-9dfdc724-0041-4c46-9dc7-f3a7a5a1cd3a","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":4588,"as_of_date":"2019-12-31","amount":"247673.0","fund_id":321},"one_year_return":null,"current_yield":136.21,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":0.0,"twelve_b_one_fee":0.0,"expense_ratio_gross":null,"expense_ratio_net":5.92,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":382,"name":"NexPoint Healthcare Opportunities Fund","ticker":"NXHZX","initial_filling":"2016-03-04","effect":"2018-05-10","stage":"Deregistered","sec_time_to_effective":"","class_name":"Class Z","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"NexPoint Advisors, L.P.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eNexPoint Healthcare Opportunities Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a newly-organized, continuously offered, non-diversified, closed-end management investment company that intends to operate as an interval fund. As an interval fund, the Fund will offer to make repurchases of no less than 5% of its outstanding shares at net asset value (“NAV”), on a quarterly basis, unless such offer is suspended or postponed in accordance with regulatory requirements.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e. The Fund’s investment objective is to seek total return consisting of high current income and longer-term capital appreciation. There can be no assurance that the Fund will achieve this objective. The Fund’s investment objective is non-fundamental and may be changed by the Board of Trustees (the “Board”) without shareholder approval. Shareholders will, however, receive at least 60 days’ prior notice of any change in this investment objective.\u003c/p\u003e\u003cp class=\"medium-insert-active\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"medium-insert-active\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e. The Fund pursues its investment objective by investing, under normal circumstances, at least 80% of its total assets (defined as net assets plus the amount of any borrowing for investment purposes) (the “80% Policy”) in the securities of U.S. and non-U.S. companies engaged in the healthcare industry (“Healthcare Companies”). A company will be deemed to be a Healthcare Company if, at the time the Fund makes an investment in a company, 50% or more of such company’s sales, earnings or assets arise from or are dedicated to healthcare products or services or medical technology activities. Healthcare Companies may include companies in one or more of the following sub-sectors: pharmaceuticals, biotechnology, managed care, life science and tools, healthcare technology, healthcare services, healthcare supplies, healthcare facilities, healthcare equipment, healthcare distributors, Healthcare REITs and other healthcare-related research and development activities. Additionally, we consider the term Healthcare Company to include companies that are materially impacted by the healthcare industry, such as a contractor that derives significant revenue or profit from the construction of hospitals.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 358px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n 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Fund","ticker":"NXLLX","initial_filling":"2016-03-24","effect":"2018-06-25","stage":"Active","sec_time_to_effective":"","class_name":"Class L","net_asset_source_link":"","total_asset_source_link":"","category":"Equities","strategy":"Latin America","latest_prospectus":"","prospectus_date":null,"advisor":"","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"","initial":true,"slug":"nexpoint-latin-american-opportunities-fund-881f21b0-6029-4bf9-96f2-0c2ace324302","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":5165,"as_of_date":"2019-06-30","amount":"102037.0","fund_id":490},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":322,"name":"NexPoint Real Estate Strategies Fund","ticker":"NRSAX","initial_filling":"2016-01-19","effect":"2016-07-01","stage":"Active","sec_time_to_effective":"","class_name":"Class C","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"NexPoint Advisors, L.P.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0.25","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eNexPoint Real Estate Strategies Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a newly-organized, continuously offered, non-diversified, closed-end management investment company that intends to operate as an interval fund.\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/i\u003e. The Fund’s investment objective is to seek long-term total return, with an emphasis on current income, by primarily investing in a broad range of real estate-related debt, equity and preferred equity investments across multiple real estate sectors. There can be no assurance that the Fund will achieve this objective.\u003c/p\u003e\u003cp class=\"medium-insert-active\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"medium-insert-active\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies\u003c/i\u003e\u003c/b\u003e.\u003cb\u003e\u003ci\u003e \u003c/i\u003e\u003c/b\u003eThe Fund will pursue its investment objective by investing, under normal circumstances, at least 80% of its assets in “real estate and real estate related securities” (as defined below). In particular, the Fund will pursue its investment objective by investing the Fund’s assets primarily in (1) commercial mortgage backed securities (“CMBS”) and residential mortgage backed securities (“RMBS”), (2) structured, private institutional credit opportunities offered primarily in conjunction with GSEs, (3) direct preferred equity and mezzanine investments in real properties, (4) equity securities of public (both traded and non-traded) and private debt and equity real estate investment trusts (“REITs”) and/or real estate operating companies (“REOCs”) and (5) opportunistic and value added direct real estate strategies (through a wholly-owned REIT). In addition, the Fund may invest up to 20% of its total assets in equity or debt securities other than real estate and real estate related securities.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 316.667px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"nexpoint-real-estate-strategies-fund-5eb55d1e-50da-48f5-b54c-649daea9d4c0","holding_percentages":[{"name":"ZAYO GROUP HOLDINGS, INC.","percentage":"15.60925321935"},{"name":"N/A","percentage":"12.9342769997"},{"name":"N/A","percentage":"10.09449068642"},{"name":"N/A","percentage":"9.895761098559"},{"name":"NEXPOINT RESIDENTIAL TRUST, INC.","percentage":"9.468151058706"},{"name":"PLYMOUTH INDUSTRIAL REIT, INC.","percentage":"3.03564003484"},{"name":"Dreyfus Treasury Obligations Cash Management; Institutional Shares","percentage":"2.595954407326"},{"name":"Nexpoint Real Estate Finance Inc","percentage":"1.239104383701"},{"name":"CIFC FUNDING LTD","percentage":"0.696765990339"},{"name":"N/A","percentage":"0.408005700264"}],"last_net_asset":16454520,"last_total_asset":{"id":6025,"as_of_date":"2022-06-30","amount":"35875947.39","fund_id":322},"one_year_return":null,"current_yield":2.3,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":0.0,"twelve_b_one_fee":0.0,"expense_ratio_gross":null,"expense_ratio_net":0.02,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":598,"name":"Nomura Alternative Income Fund","ticker":"","initial_filling":"2022-09-13","effect":null,"stage":"Initial Filing","sec_time_to_effective":"","class_name":"Class TBD","net_asset_source_link":"","total_asset_source_link":"","category":"Alternative","strategy":"Private Credit","latest_prospectus":"","prospectus_date":null,"advisor":"Nomura Private Capital LLC.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Ultimus Fund Solutions, LLC","administrator":"Ultimus Fund Solutions, LLC.","custodian":"U.S. Bank, N.A.","legal_counsel":"Faegre Drinker Biddle \u0026 Reath LLP.","public_accounting_firm":"","transfer_agent":"Ultimus Fund Solutions, LLC","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003ctable cellspacing=\"0\" cellpadding=\"0\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd\u003e\u003cbr\u003e \u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003e \u003c/td\u003e\u003ctd\u003e\u003cbr\u003e\u003ctable cellspacing=\"0\" cellpadding=\"0\"\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd\u003e\u003cp\u003eThe primary investment objective of the Fund is to maximize risk-adjusted total return, and the Fund will seek to provide current income as a secondary investment objective. Under normal market conditions, the Fund seeks to achieve its investment objectives by investing at least a majority of its assets (net assets, plus any borrowings for investment purposes) either directly or indirectly through investment vehicles (“Underlying Funds”) across a wide array of global public and private credit markets, with allocations primarily focused on the private corporate, real estate, consumer, asset based, and specialty lending markets. Allocations also may be made to other markets that include public equity, emerging market debt and municipal credit markets.\u003c/p\u003e\u003cp\u003eA flexible asset allocation strategy will be employed to maximize risk adjusted returns and current income subject to the Investment Manager’s assessment of market opportunity. Across the markets in public and private credit, the types of instruments employed will include, among other things, investments in limited partnerships, fixed-, variable- and floating-rate bonds, loans, convertible and contingent convertible securities and stressed, distressed and defaulted debt securities issued by U.S. or foreign (non-U.S.) corporations or other business entities, including emerging market issuers, mortgage-related and other consumer-related instruments (fixed and floating coupon bonds and loans), collateralized debt obligations, including, collateralized loan obligations, government and sovereign debt, municipal bonds and other fixed-, variable- and floating-rate income-producing securities of U.S. and foreign issuers, including emerging market issuers.\u003c/p\u003e\u003cp\u003eThe Investment Manager employs an active allocation approach across several markets using a process which is informed by market conditions, valuation assessments, economic outlook, credit market trends and other economic factors, and at times other factors that that become relevant in an episodic manner (e.g. geopolitical developments, environmental events such as natural disaster and/or pandemic, etc.). The Fund may focus its investment strategy on, and its portfolio of investments may be focused in, a subset of one or more of these credit markets.\u003c/p\u003e\u003cp\u003eIt is expected that the Fund normally will have a short to intermediate average portfolio duration (i.e., within a zero to ten year range), as calculated by the Investment Manager, although it may be shorter or longer at any time or from time to time depending on market conditions and other factors. The Investment Manager does not target any specific allocation to investment grade debt securities or below investment grade debt securities (commonly referred to as “high yield” securities or “junk bonds”), including securities of stressed and distressed issuers.\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cbr\u003e\u003cbr\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 0px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"nomura-alternative-income-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":null,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":479,"name":"Nuveen Enhanced High Yield Municipal Bond Fund","ticker":"NMSSX","initial_filling":"2019-05-23","effect":"2021-06-29","stage":"Active","sec_time_to_effective":"768 Days","class_name":"Class I","net_asset_source_link":"","total_asset_source_link":"","category":"Municipal Securties","strategy":"Municipal Securties","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001777482/000119312521204516/d129777d424b3.htm","prospectus_date":"2021-06-30","advisor":"Nuveen Fund Advisors, LLC","sub_advisor_1":"Nuveen Asset Management","sub_advisor_2":"","min_initial_investment":100000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"0%","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"","annual_management_fee":"1.33%","management_fee_num":"1.33","management_fee_calc_on":"Net Assets","repurchase_fee":"0%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Nuveen Securities, LLC","administrator":"Nuveen Fund Advisors","custodian":"State Street Bank and Trust Company","legal_counsel":"Stradley Ronon Stevens \u0026 Young, LLP","public_accounting_firm":"PricewaterhouseCoopers LLP","transfer_agent":"DST Systems, Inc.","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003e\u003ci\u003eFrom the fund's prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eThe Fund:\u003c/i\u003e\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eNuveen Enhanced High Yield Municipal Bond Fund (the “Fund”) is a non-diversified, closed-end management investment company that continuously offers its common shares of beneficial interest (“Common Shares”) and is operated as an “interval fund.” The Fund currently offers two classes of Common Shares: Class I Common Shares and Class A Common Shares. The Fund may offer additional classes of Common Shares in the future pursuant to exemptive relief from the Securities and Exchange Commission (“SEC”).\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Objectives:\u003c/i\u003e\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund’s primary investment objective is to provide a high level of current income exempt from regular U.S. federal income tax. Capital appreciation is a secondary investment objective when consistent with the Fund’s primary investment objective. However, there can be no assurance that the Fund will achieve either of its investment objectives or that the Fund’s investment strategies will be successful. See “The Fund’s Investments” and “Risks.”\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003ci\u003e\u003cb\u003eFund Strategies\u003c/b\u003e:\u003c/i\u003e\u003cb\u003e\u0026nbsp;\u003c/b\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund’s portfolio will be actively managed to identify and capitalize on high yield municipal securities. Nuveen Asset Management, LLC, the Fund’s subadviser (“Nuveen Asset Management”), uses a research-driven approach that seeks attractive income exempt from regular U.S. federal income taxes by identifying and capitalizing on opportunities in high yield municipal securities. The Fund invests in below investment grade bonds that Nuveen Asset Management believes may offer the potential for attractive total returns, even after taking into account the significant risk (relative to higher quality securities) that these securities typically present.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp\u003eThe Fund may also invest in special situations municipal securities that Nuveen Asset Management believes may offer the potential for attractive total returns, even after taking into account the significant risk (relative to higher quality securities) that these securities typically present. Special situations municipal securities are municipal securities: (i) of issuers that are facing distressed financial or operating circumstances, are in default of its obligations or in an active work-out, or are in bankruptcy; or (ii) that present uncertainties or complex features that could render them undesirable for certain investors. Special situations municipal securities may offer illiquidity and complexity premiums, which may create significant investment opportunity for the Fund. \u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eAs an “interval fund”, the Fund will provide Common Shareholders periodic liquidity. See “Periodic Repurchase Offers; Unlisted Shares” above. Nuveen Fund Advisors believes the Fund’s “interval fund” structure may provide greater income and total return potential as compared to a traditional high yield municipal mutual fund. Without the potential disruption of outflows from daily liquidity, Nuveen Asset Management may capture illiquidity premiums often unavailable to individual retail investors through more liquid investment vehicles such as mutual funds. In addition, the Fund’s investment advisor believes that the Fund’s interval structure allows more flexibility to assume larger position sizes; enables a greater allocation to less-illiquid municipal securities; and provides the Fund the opportunity to realize the maximum long-term value of certain special situations within the municipal market such as work-outs (a privately negotiated, mutual agreement between the Fund and the issuer or another party with respect to securities in default or involved in bankruptcy or insolvency proceedings).\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003ch3\u003e\u003cp\u003e\u003cb\u003eAdvisor\u003c/b\u003e: Nuveen Fund Advisors, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eSub-advisor\u003c/b\u003e: Nuveen Asset Management\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eAdministrator\u003c/b\u003e: Nuveen Fund Advisors\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eLegal Counsel\u003c/b\u003e: Stradley Ronon Stevens \u0026amp; Young, LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.stradley.com/professionals/c/corriero-joel-d?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eJoel D. Corriero\u003c/a\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003ePublic Accounting Firm\u003c/b\u003e: PricewaterhouseCoopers LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eDistributor\u003c/b\u003e: Nuveen Securities, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eCustodian\u003c/b\u003e: State Street Bank and Trust Company\u003c/p\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003eTransfer Agent\u003c/b\u003e: DST Systems, Inc.\u003c/p\u003e\u003c/h3\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 563px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"nuveen-municipal-high-yield-special-situations-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6117,"as_of_date":"2022-06-30","amount":"84955868.0","fund_id":479},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"Monthly","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":359,"name":"O'Connor EQUUS","ticker":"Not Available","initial_filling":"2014-02-13","effect":"2014-06-18","stage":"Deregistered","sec_time_to_effective":"","class_name":"Common Shares","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"UBS O'Connor LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":null,"annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the Fund's Prospectus:\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eO'Connor EQUUS (the \"\u003cb\u003e\u003ci\u003eFund\u003c/i\u003e\u003c/b\u003e\") is a Delaware statutory trust registered as an investment company under the Investment Company Act of 1940, as amended (the \"1940 Act\"). The Fund is a non-diversified, closed-end management investment company that operates as an \"interval fund.\"\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003eInvestment Objective\u003c/i\u003e\u003c/b\u003e. The Fund’s investment objective is to seek to consistently realize risk-adjusted appreciation in the value of its assets.\u003c/p\u003e\u003cp class=\"MsoNormal medium-insert-active\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal medium-insert-active\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003ePrincipal Investment Strategies\u003c/i\u003e\u003c/b\u003e. Currently, the Fund uses a US-centric equity-based long/short investment strategy, which generally has a low correlation to the equity markets. The Adviser intends to principally invest in U.S. equity related securities, which include shares of U.S. listed companies and non-U.S. listed companies with substantial assets or sales in the U.S., as well as interests in any company exposed to common global drivers (collectively \"U.S. Related Securities\"). The Adviser intends to attempt to extract excess returns principally through single-security selection and secondarily by attempting to exploit systematic market volatility by taking net exposures to such market. In general, \"excess returns\" refer to the returns of a portfolio that exceed the returns of a benchmark (E.G., the S\u0026amp;P 500 Index) with a similar level of risk.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 238.667px;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 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132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"o-connor-equus","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":5150,"as_of_date":"2015-09-30","amount":"14728902.0","fund_id":359},"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":0.0,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"1","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":561,"name":"Oaktree Diversified Income Fund Inc.","ticker":"ODIDX","initial_filling":"2021-07-09","effect":"2021-10-29","stage":"Active","sec_time_to_effective":"112 Days","class_name":"Class D","net_asset_source_link":"","total_asset_source_link":"","category":"STRUCTURED CREDIT","strategy":"PUBLIC/PRIVATE CORPORATE CREDIT","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001870714/000110465921133089/tm2121005-10_424b3.htm","prospectus_date":"2021-11-02","advisor":"Oaktree Fund Advisors, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":25000,"min_follow_on_investment":"$5000","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"0%","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"","annual_management_fee":"1.75%","management_fee_num":"1.75","management_fee_calc_on":"Total Assets","repurchase_fee":"2.00%","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Quasar Distributors, LLC","administrator":"Brookfield Public Securities Group LLC","custodian":"U.S. Bank National Association","legal_counsel":"Paul Hastings LLP","public_accounting_firm":"Deloitte \u0026 Touche LLP","transfer_agent":"U.S. Bancorp Fund Services, LLC","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003eOverview: \u003c/i\u003e\u003c/b\u003eOaktree Fund Advisors, LLC, an adviser operated by major global alternative investment management firm \u003ca href=\"https://www.oaktreecapital.com/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eOaktree Capital Management\u003c/a\u003e, registered the \u003ca href=\"https://intervalfunds.org/funds/oaktree-diversified-income-fund-inc\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eOaktree Diversified Income Fund, Inc.\u003c/a\u003e (the \"Fund\") on 7/09/2021, a closed-end interval fund that will focus primarily on investing in high-yield bonds, senior loans, structured credit, and emerging markets debt, inclusive of both public and private credit sectors both in the U.S. and abroad.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eIn doing so, the Fund seeks to provide current income and attractive total return to its investors.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eAccording to Oaktree's \u003ca href=\"https://www.oaktreecapital.com/about\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ewebsite\u003c/a\u003e, the firm has operated for 26 years, has over 1,000 employees in offices on 4 continents, and its $153b in managed assets (as of March 2021) represents 67/100 of the largest U.S. pension plans, 80% of U.S. state retirement plans, over 475 corporations globally, and over 300 endowments and foundations globally.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eOaktree provides investors with exposure to a range of strategies, including credit, private equity, real assets, and listed equities. Risk management is a core tenet of their investment philosophy, with the firm \u003ca href=\"https://www.oaktreecapital.com/about/investment-philosophy\" target=\"_blank\" rel=\"noopener noreferrer\"\u003estating\u003c/a\u003e \"if we avoid the losers, the winners will take care of themselves.\"\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eThis is Oaktree's first foray into the world of closed-end interval funds. The move, by such an established and risk-averse manager, represents a \u003cb\u003esignificant vote of confidence for interval funds as a vehicle for alternative investments.\u003c/b\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003ci\u003eFrom the Fund's \u003ca href=\"https://www.sec.gov/Archives/edgar/data/0001870714/000110465921090620/tm2121005d1_n2.htm\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eProspectus\u003c/a\u003e:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003ci\u003e\u003cbr\u003e\u003c/i\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e \u003cb\u003e\u003ci\u003eThe Fund:\u003c/i\u003e \u003c/b\u003eOaktree Diversified Income Fund Inc. (the “Fund”) is a newly organized, diversified, closed-end management investment company that continuously offers its shares of common stock (the “Common Shares”). The Fund is operated as an “Interval Fund” (as defined below).\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003eInvestment Objective: \u003c/i\u003e\u003c/b\u003eThe Fund’s investment objective is to seek current income and attractive total return.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003e\u003ci\u003eInvestment Strategies:\u003c/i\u003e\u003c/b\u003e\u003cb\u003e \u003c/b\u003eThe Fund seeks to achieve its investment objective by investing globally in high-conviction opportunities across Oaktree Fund Advisors, LLC's (“Oaktree” or the “Adviser”) performing credit platform of high-yield bonds, senior loans, structured credit, emerging markets debt and convertibles, inclusive of both public and private credit sectors. High-yield bonds are also referred to as “below-investment grade rated securities” or “junk bonds”, as described in this prospectus. The Fund seeks to add value through three sources: (1) providing exposure to asset classes that require specialized expertise; (2) performing well in each asset class through proprietary, bottom-up, credit research; and (3) allocating capital opportunistically among asset classes based on Oaktree’s assessment of relative value.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003eUnder normal market conditions, the Fund will attempt to achieve its investment objective by investing, as a principal strategy, at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in credit related investments, including, but not limited to, fixed income securities, floating rate securities and other debt instruments and in derivatives and other instruments that have economic characteristics similar to such securities or investments (the “80% Policy”). The Fund may invest in investment grade and below-investment grade rated debt instruments and securities of sovereign and quasi-sovereign issuers, including debt issued by national, regional or local governments and other agencies. The Fund may invest in securities denominated in U.S. dollars or in other foreign currencies.\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eAdviser\u003c/b\u003e: Oaktree Fund Advisors, LLC\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eAdministrator\u003c/b\u003e: Brookfield Public Securities Group LLC\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eLegal Counsel\u003c/b\u003e: Paul Hastings LLP\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.paulhastings.com/professionals/mikerosella\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eMichael R. Rosella, Esq.\u003c/a\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003ePublic Accounting Firm: \u003c/b\u003eDeloitte \u0026amp; Touche LLP\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eCustodian\u003c/b\u003e: U.S. Bank National Association\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eDistributor: \u003c/b\u003eQuasar Distributors, LLC\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\u003c/p\u003e\u003cp class=\"MsoNormal\"\u003e\u003cb\u003eTransfer Agent\u003c/b\u003e: U.S. Bancorp Fund Services, LLC\u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 534px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"oaktree-diversified-income-fund-inc","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6160,"as_of_date":"2022-06-30","amount":"172555821.92","fund_id":561},"one_year_return":null,"current_yield":13.86,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":4.02,"expense_ratio_net_class":3.05,"distribution_frequency":"Monthly","distribution_frequency_number_yearly":"12","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":392,"name":"Oppenheimer ILS Interval Fund ","ticker":"Not Available","initial_filling":"2018-06-13","effect":null,"stage":"Recently Filed","sec_time_to_effective":"","class_name":"Class I","net_asset_source_link":"","total_asset_source_link":"","category":"Fixed Income","strategy":"Insurance Securities","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001741002/000172547219000102/ilsintervalfundn2a.htm","prospectus_date":"2019-07-11","advisor":"OFI Global Asset Management, Inc. ","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5-25%","repurchase_frequency":"Quarterly","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"","custodian":"","legal_counsel":"","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eFrom the fund's prospectus:\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eThe Fund\u003c/b\u003e\u003c/p\u003e\u003cp\u003eThe Fund is a newly organized non-diversified, closed-end management investment company that is registered under the 1940 Act. The Fund is structured as an “interval fund” and continuously offers its Shares. The Fund was organized as a Delaware statutory trust on May 15, 2018 and has no operating history. The principal office of the Fund is located at 6803 South Tucson Way, Centennial, Colorado 80112-3924 and its telephone number is [ ].\u003c/p\u003e\u003cp\u003eThe Fund’s investment objective is to seek total return. There can be no assurance that the Fund will achieve its investment objective.\u003c/p\u003e\u003cp\u003eUnder normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowing for investment purposes) in ILS. ILS may include insurance/reinsurance-related investments such as (i) event-linked bonds or notes (also known as insurance-linked bonds or catastrophe bonds), (ii) reinsurance sidecars, collateralized reinsurance or industry loss warranties typically via (a) Quota Share Notes, (b) Excess of Loss Notes or (c) ILW Notes and (iii) to a lesser extent, event-linked swaps and equity securities (publicly or privately offered) and the derivatives of equity securities of companies in the insurance and reinsurance industry. The Manager has broad discretion to allocate the Fund’s assets among these investment types. \u003c/p\u003e\u003cp\u003eFor a further discussion of the Fund’s principal investment strategies, see “Investment Objective, Opportunities and Strategies.”\u003c/p\u003e\u003cp\u003eThe Manager oversees the Fund’s investments and its business operations, and chooses the Fund’s investments and provides related advisory services. See “The Manager.” Responsibility for monitoring and overseeing the Fund’s investment program, management and operation is vested in the individuals who serve on the Board.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eInvestment Objective\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe Fund’s investment objective is to seek total return. There can be no assurance that the Fund will achieve its investment objective.\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eInvestment Opportunities and Strategies\u003c/b\u003e\u003c/p\u003e\u003cp\u003eUnder normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowing for investment purposes) in ILS. ILS may include insurance/reinsurance-related investments such as (i) event-linked bonds or notes (also known as insurance-linked bonds or catastrophe bonds), (ii) reinsurance sidecars, collateralized reinsurance or industry loss warranties typically via (a) Quota Share Notes, (b) Excess of Loss Notes or (c) ILW Notes and (iii) to a lesser extent, event-linked swaps and equity securities (publicly or privately offered) and the derivatives of equity securities of companies in the insurance and reinsurance industry. The Manager has broad discretion to allocate the Fund’s assets among these investment types. \u003c/p\u003e\u003cp\u003eILS are typically rated below investment grade or unrated. ILS that are rated below investment grade quality or unrated may commonly be referred to as “junk bonds.” As such, the Fund’s assets will primarily be invested in higher yielding, high risk (below investment grade) securities. The Fund may also enter into other types of investments that enable the Fund to gain insurance/reinsurance-related exposure that offers potentially attractive investment opportunities, as the Manager may consider appropriate from time to time. \u003c/p\u003e\u003cp\u003eThe Fund has no limit as to the maturity of the securities in which it invests or as to the market capitalization of the issuer. To the extent consistent with the repurchase liquidity requirement of an interval fund, the Fund may invest without limitation in illiquid securities.\u003c/p\u003e\u003cp\u003eILS may be issued by an insurance or reinsurance company directly or by an SPV organized by an insurance or reinsurance company. The SPV enters into a reinsurance agreement with the insurance or reinsurance company, receiving insurance premiums from the company in exchange for providing the insurance coverage via the issued ILS. \u003c/p\u003e\u003cp\u003eThe Fund will employ both quantitative and qualitative analysis to evaluate ILS. The Manager will utilize an optimization process to identify a model portfolio of specific peril risks targets for building the investment strategy. Allocation decisions will be made at the securities level within the peril risk categories to carefully construct a portfolio of customized reinsurance-based exposures that can achieve a balance of diversification and well-defined risk characteristics. \u003c/p\u003e\u003cp\u003eIn constructing an investment portfolio, the Manager will analyze a number of factors to assess the underlying reinsurance risk exposures within each ILS and at the portfolio level, including a quantitative-based review of the modeled expected loss estimates, event probability metrics, concentration risk and peril correlations. This process will include simulating losses from events to assess risk at the ILS, peril category and portfolio levels. The Manager will further apply in-depth fundamental analysis to examine the underwriting quality of each transaction including deal structure, trigger construction, modeling assumption accuracy and liquidity profile. The investment selection process will also entail analysis of reinsurers, insurers and other counterparties to evaluate their financial condition, competitive positioning, ratings and other economic factors that may impact their business strategies. \u003c/p\u003e\u003cp\u003eThe Manager will employ a widely accepted reinsurance industry-based technology risk modeling and analytics system to assist in developing model portfolio views, as well as to evaluate modeled loss distribution estimates, historical data analysis and simulated analysis of loss events on the portfolio and its specific peril exposures. \u003c/p\u003e\u003cp\u003eAs part of this analysis, the Manager may consider, among other things, data and information obtained from third-party models. In particular, the Manager may rely on research provided by leading catastrophe risk modeling companies that seek to measure catastrophe risks on a probabilistic basis, using simulation techniques. \u003c/p\u003e\u003cp\u003eThe Fund will seek to invest across a broad spectrum of global insurance and reinsurance risk perils and geographies, including both natural event risk such as hurricanes and earthquakes or mortality and longevity events, as well as to non-natural (or resulting from human-related activity) peril event risks such as commercial and industrial accidents or business interruptions (e.g., aviation or marine-based risk). The Manager will not have limits on the Fund’s potential investment in a particular issue, peril or geographic exposure.\u003c/p\u003e\u003cp\u003eUnderlying performance in ILS are tied to the non-occurrence of specified triggers that can lead to economic and/or physical loss connected only to global insurance and reinsurance-related peril events. As such, ILS are generally uncorrelated to other traditional asset classes, such as equities and fixed income, because performance is largely insensitive to most financial and geopolitical factors that drive performance of traditional portfolio assets.\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 0px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"oppenheimer-ils-interval-fund-2ca66200-6509-4180-81d1-d1e287dadcf4","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"","distribution_frequency_number_yearly":"1","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":584,"name":"Opportunistic Credit Interval Fund","ticker":"SOFIX","initial_filling":"2022-02-25","effect":"2022-06-17","stage":"Recently Filed","sec_time_to_effective":"","class_name":"Class I","net_asset_source_link":"","total_asset_source_link":"","category":"CREDIT","strategy":"CREDIT","latest_prospectus":"https://www.sec.gov/Archives/edgar/data/0001907437/000139834422004012/fp0073678_n2.htm","prospectus_date":"2022-02-25","advisor":"Mount Logan Management, LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":1000000,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"5% to 25%","repurchase_frequency":"Quarterly","max_total_sales_load":"0%","max_commissions":"","distribution_fee":"0%","shareholder_servicing":"0%","annual_management_fee":"1.25%","management_fee_num":"1.25","management_fee_calc_on":"Net Assets","repurchase_fee":"0%","incentive_fee":"0%","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"BC Partners Management, LLC","custodian":"U.S. Bank, N.A.","legal_counsel":"Thompson Hine LLP","public_accounting_firm":"","transfer_agent":"","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp class=\"\"\u003eMount Logan registered the Opportunistic Credit Interval Fund (the \"Fund\") on 2/25/2022. The Fund aims to generate current income and capital appreciation via exposure to a range of credit instruments across the full credit cycle.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eThe strategy will allocate to private debt, structured equity, physical assets including aircraft leasing and renewable energy assets. The Fund also has a carve-out for event-driven credit, such as bridge loans and exit financing, along with stressed and distressed debt.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eNotably, the Fund is the latest in a string of interval funds filed since early 2021 that plans to increase the capital available for sustainable infrastructure. The Fund plans to offer a single share class, Class I, with a $1 million initial investment.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003eMount Logan Management, LLC is a wholly-owned subsidiary of Canadian credit-focused asset manager Mount Logan Capital, with over $1.3 billion under management across its asset management and insurance businesses.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003ci\u003eFrom the Fund's prospectus:\u003c/i\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eThe Fund:\u003c/i\u003e\u003c/b\u003e\u0026nbsp;Opportunistic Credit Interval Fund (the “Fund”) is a continuously offered, non-diversified, closed-end management investment company. The Fund is an interval fund that will offer to make quarterly repurchases of its shares at NAV.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eInvestment Objectives and Policies:\u003c/i\u003e\u003c/b\u003e\u0026nbsp;The Fund's investment objectives are to produce current income and capital appreciation.\u003c/p\u003e\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003eThe Fund seeks to meet its investment objectives by investing primarily in credit-related instruments of North American and European issuers. The Fund defines credit-related instruments as debt, loans, loan participations, credit facility commitments, asset and lease pool interests, mortgage servicing rights, preferred shares, and swaps linked to credit-related instruments. The Fund’s investments will focus on privately originated credit investments as well as secondary credit investments. The Fund invests without restriction as to an instrument's maturity, structure, seniority, interest rate formula, currency; and without restriction as to issuer capitalization or credit quality. Lower credit quality debt instruments, such as leveraged loans and high yield bonds, are commonly referred to as \"junk\" bonds. The Fund defines junk bonds as those rated lower than Baa3 by Moody's Investors Services, Inc. (\"Moody's\") or lower than BBB- by Standard and Poor's Rating Group (\"S\u0026amp;P\"), or, if unrated, determined by the Adviser to be of similar credit quality.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdviser: \u003c/b\u003eMount Logan Management, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eAdministrator: \u003c/b\u003eBC Partners Management, LLC\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eLegal Counsel: \u003c/b\u003eThompson Hine LLP\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003ePartner: \u003c/b\u003e\u003ca href=\"https://www.thompsonhine.com/professionals/strasser-joann?intervalfunds.org\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eJoAnn M. Strasser\u003c/a\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cb\u003eCustodian: \u003c/b\u003eU.S. Bank, N.A.\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 228px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 512 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M512 144v288c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V144c0-26.5 21.5-48 48-48h88l12.3-32.9c7-18.7 24.9-31.1 44.9-31.1h125.5c20 0 37.9 12.4 44.9 31.1L376 96h88c26.5 0 48 21.5 48 48zM376 288c0-66.2-53.8-120-120-120s-120 53.8-120 120 53.8 120 120 120 120-53.8 120-120zm-32 0c0 48.5-39.5 88-88 88s-88-39.5-88-88 39.5-88 88-88 88 39.5 88 88z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fa fa-camera\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"embeds\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-youtube fa-w-18\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fab\" data-icon=\"youtube\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 576 512\" data-fa-i2svg=\"\"\u003e\u003cpath fill=\"currentColor\" d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"\u003e\u003c/path\u003e\u003c/svg\u003e\u003c!-- \u003cspan class=\"fab fa-youtube\"\u003e\u003c/span\u003e --\u003e\u003c/button\u003e\u003c/li\u003e\r\n \u003c/ul\u003e\r\n\u003c/div\u003e","initial":true,"slug":"opportunistic-credit-interval-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":{"id":6170,"as_of_date":"2022-06-30","amount":"100000.0","fund_id":584},"one_year_return":null,"current_yield":null,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":"","expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":"Quarterly","distribution_frequency_number_yearly":"4","operating_expenses":null,"show_cta":false,"estimated_value":null},{"id":511,"name":"Orinda Preferred Yield Plus Fund","ticker":"Not Available","initial_filling":"2017-08-18","effect":null,"stage":"Deregistered","sec_time_to_effective":null,"class_name":"Shares of Beneficial Interest","net_asset_source_link":null,"total_asset_source_link":null,"category":null,"strategy":null,"latest_prospectus":null,"prospectus_date":null,"advisor":null,"sub_advisor_1":null,"sub_advisor_2":null,"min_initial_investment":null,"min_follow_on_investment":null,"max_offering_size":null,"repurchase_amount":null,"repurchase_frequency":null,"max_total_sales_load":null,"max_commissions":null,"distribution_fee":null,"shareholder_servicing":null,"annual_management_fee":null,"management_fee_num":null,"management_fee_calc_on":null,"repurchase_fee":null,"incentive_fee":null,"incentive_fee_num":null,"incentive_fee_benchmark":null,"distributor":null,"administrator":null,"custodian":null,"legal_counsel":null,"public_accounting_firm":null,"transfer_agent":null,"bloomberg_link":null,"nav_share":null,"api_key_id":null,"description":null,"initial":true,"slug":"orinda-preferred-yield-plus-fund","holding_percentages":null,"last_net_asset":null,"last_total_asset":null,"one_year_return":null,"current_yield":0.0,"total_return_gross":null,"expense_ratio":null,"total_return":null,"current_yield_percentage":null,"redemption_fee":null,"twelve_b_one_fee":null,"expense_ratio_gross":null,"expense_ratio_net":null,"current_yield_over_time":null,"distribution_paid":null,"growth_expense_ratio":null,"total_return_class_level":null,"expense_ratio_class":null,"aum_growth":null,"fund_flow_qoq":null,"total_issues":null,"expense_ratio_gross_class":null,"expense_ratio_net_class":null,"distribution_frequency":null,"distribution_frequency_number_yearly":"1","operating_expenses":null,"show_cta":null,"estimated_value":null},{"id":270,"name":"Palmer Square Opportunistic Income Fund","ticker":"PSOIX","initial_filling":"2014-05-20","effect":"2014-08-29","stage":"Active","sec_time_to_effective":"","class_name":"Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"Credit","strategy":"Credit","latest_prospectus":"","prospectus_date":null,"advisor":"Palmer Square Capital Management LLC","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":null,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"0.09","annual_management_fee":"","management_fee_num":"","management_fee_calc_on":"","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"Foreside Fund Services, LLC","administrator":"UMB FUND SERVICES, INC.","custodian":"UMB BANK, NATIONAL ASSOCIATION","legal_counsel":"","public_accounting_firm":"Tait, Weller \u0026 Baker LLP","transfer_agent":"UMB FUND SERVICES, INC.","bloomberg_link":"","nav_share":"18.86","api_key_id":null,"description":"\u003cdiv align=\"left\"\u003e\u003cdiv\u003eFrom the Fund's Prospectus:\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003eThe Palmer Square Opportunistic Income Fund (the “\u003ci\u003e\u003cb\u003eFund\u003c/b\u003e\u003c/i\u003e”) is a newly organized, non-diversified, closed-end investment company that continuously offers its shares (“Shares”).\u003c/div\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cbr\u003e\u003c/p\u003e\u003cdiv align=\"left\"\u003e\u003cdiv\u003e\u003ci\u003e\u003cb\u003eInvestment Objectives\u003c/b\u003e\u003c/i\u003e.\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eThe Fund seeks a high level of current income. As a secondary objective, the Fund seeks long-term capital appreciation.\u003c/span\u003e\u003c/div\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003cp class=\"\"\u003e\u003cspan style=\"font-size: 0.875rem;\"\u003e\u003cbr\u003e\u003c/span\u003e\u003c/p\u003e\u003c/div\u003e\u003cdiv align=\"left\"\u003e\u003cdiv\u003e\u003ci\u003e\u003cb\u003ePrincipal Investment Strategies\u003c/b\u003e\u003c/i\u003e.\u0026nbsp;\u003cspan style=\"font-size: 0.875rem;\"\u003eUnder normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in debt securities and/or income-producing securities. The Fund may invest in debt securities of any maturity and credit quality, including securities rated below investment grade and unrated securities. The types of debt securities in which the Fund may invest include, but are not limited to, (i) collateralized debt obligations, (ii) corporate bonds, notes and debentures, (iii) securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored entities, (iv) senior secured floating rate and fixed rate loans or debt, (v) second lien or other subordinated or unsecured floating rate and fixed rate loans or debt, and (vi) other fixed, floating, or variable interest rate securities. The Fund may invest in both U.S. dollar denominated and non-U.S. dollar denominated loans and securities, as well as securities of foreign issuers. The Fund may also employ derivatives, such as puts and calls on U.S. Treasury futures; options, swaps and other interest rate derivatives; and credit default swaps on selected entities or indexes, for the purposes of achieving the Fund’s investment objectives, hedging risks, and enhancing liquidity.\u003c/span\u003e\u003c/div\u003e\u003c/div\u003e\u003cdiv class=\"medium-insert-buttons\" contenteditable=\"false\" style=\"top: 308.667px; display: none;\"\u003e\r\n \u003cbutton class=\"medium-insert-buttons-show\" type=\"button\"\u003e\u003cspan\u003e+\u003c/span\u003e\u003c/button\u003e\r\n \u003cul class=\"medium-insert-buttons-addons\" style=\"display: none\"\u003e\r\n \u003cli\u003e\u003cbutton data-addon=\"images\" data-action=\"add\" class=\"medium-insert-action\" type=\"button\"\u003e\u003csvg class=\"svg-inline--fa fa-camera fa-w-16\" aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fa\" data-icon=\"camera\" role=\"img\" xmlns=\"https://www.w3.org/2000/svg\" viewBox=\"0 0 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Income Plus Fund","ticker":"PIPFX","initial_filling":"2022-06-02","effect":"2022-12-06","stage":"Initial Filing","sec_time_to_effective":"","class_name":"Shares of Beneficial Interest","net_asset_source_link":"","total_asset_source_link":"","category":"","strategy":"","latest_prospectus":"","prospectus_date":null,"advisor":"American Asset Management, Inc.","sub_advisor_1":"","sub_advisor_2":"","min_initial_investment":2500,"min_follow_on_investment":"","max_offering_size":null,"repurchase_amount":"","repurchase_frequency":"","max_total_sales_load":"","max_commissions":"","distribution_fee":"","shareholder_servicing":"","annual_management_fee":"2.50%","management_fee_num":"2.50","management_fee_calc_on":"Daily Net Assets","repurchase_fee":"","incentive_fee":"","incentive_fee_num":"","incentive_fee_benchmark":"","distributor":"","administrator":"Ultimus Fund Solutions, LLC.","custodian":"","legal_counsel":"Thompson Hine LLP","public_accounting_firm":"","transfer_agent":"Ultimus Fund Solutions, LLC.","bloomberg_link":"","nav_share":null,"api_key_id":null,"description":"\u003cp\u003eUnder normal market conditions, the Fund will seek to provide attractive risk adjusted returns by taking advantage of volatility in the equity markets. The Adviser seeks to construct a diversified portfolio of structured notes in which the individual portfolio investments do not exhibit significant correlation to each other and do not draw down losses simultaneously. The Adviser’s strategy centers around creating optionality by laddering structured notes (that is, purchasing notes with different maturity dates) which can generate attractive coupon yields when the underlying reference asset trades within a predetermined price range. Each investment seeks to generate income while providing a cushion before loss of principal can occur (as discussed below).\u003c/p\u003e\u003cp\u003eAn example of an investment that the Fund expects to invest in is a structured note linked to the performance of three individual common stocks, typically stocks of companies included in the S\u0026amp;P 500 Index. The Fund will invest primarily in such structured notes. To illustrate, the Fund may purchase a structured note issued by a third-party issuer with a five-year maturity, quarterly observation dates and a 50% barrier, which references the performances of three common stocks. Each quarter on the specified observation date, the coupon (that is, interest) will be paid to the Fund by the issuer if all three of the reference common stocks trade within the predetermined price range (i.e., above the 50 % barrier in this instance). If, on a particular observation date, the price of the reference common stock breaches the upper limit, the note may be called by the issuer, and the coupon and principal paid to the Fund by the issuer. If, on a particular observation date (not the maturity date), the reference common stocks trade below the barrier, no coupon will be paid in that period and the note will remain outstanding. At any subsequent observation date, provided all three common stocks trade within the predetermined price range (i.e., above the 50% barrier in this instance), the coupon and all previously missed coupons will be paid.\u003c/p\u003e\u003cp\u003eAt maturity, if the closing price of the reference common stock is above the barrier, the full amount of principal and coupon will be paid to the Fund by the issuer. Conversely, if at maturity, the price of any of the three reference common stocks trade below the barrier, it will result in a loss of the amount of principal paid to the Fund by the issuer in an amount proportionate to the decline in the price of the worst performing reference common stock. To help to minimize overall downside risk for the Fund’s portfolio, the Fund seeks to invest in 20-50 structured notes that are diversified across industry, company, observation dates, maturity dates, barrier levels and issuers. The number of structured notes held by the Fund at any one time may vary and may be less than 20 or more than 50 from time to time.\u003c/p\u003e\u003cp\u003eThe Fund will primarily purchase structured notes from counterparty issuers that are rated investment grade or better (or issuers that are fully guaranteed by an investment grade rated parent company).\u003c/p\u003e\u003cp\u003eThe Adviser will invest in structured notes that have individual domestic equity securities, baskets of several equity securities or market indices, such as the S\u0026amp;P 500 Index as their reference assets. 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