NAVigator bonus: Herzfeld's Paylor on how CUBA became a CLO fund

The Active Investment Company Alliance held its annual Fall Roundtable in New York City on Nov. 19, and NAVigator host Chuck interviewed Ryan Paylor, Portfolio Manager at Thomas J. Herzfeld Advisors, which recently converted a closed-end fund from a focus on companies located in the Caribbean Basin — ticker Symbol CUBA — to one focused on collateralized loan obligations. Paylor explains the thinking behind the move and how shareholders reacted to the fund's drastic makeover.