All Episodes
The NAVigator — 323 episodes
Aberdeen's Kence on A.I.'s impact in the high-yield market
XA Investments' Choi on opportunities in the CLO market
If you never capture the discount, is a fund still a bargain?
John Cole Scott says BDC 'software problems' aren't surfacing in the data
Tortoise's Thummel on why natural gas will help the U.S. win the global A.I. race
How rising Treasury rates (and relief) impact closed-end investors
John Cole Scott breaks down recent media recommendations on CEFs
How the market's recent rally created 'a good widening' of closed-end discounts
Nuveen's Caraher on why senior loans are in a sweet spot now
John Cole Scott on Q2 and the rest of '26 for closed-end funds, BDCs
XA's DiBernardo on why worried investors should consider covered calls now
Gold fund manager Merk on ASA's fight with activist investors
Gabelli's Dreyer on why sports and value picks are an antidote to A.I. obsession
CEF Data's Scott on the takeaways from Dechert's Private Credit Summit
Landmark Supreme Court decision is a game-changer for investor activism
In a tight-spread, higher-for-longer rate market, discounts matter again
Bluerock's Baffico says HALO trades will benefit from Private Credit Redemptions
Kayne's Hamilton: 'Historic' oil drawdowns create energy infrastructure opportunities
Sit's Doty says rates will rise, peak and shift downward by year's end
CEF Advisors' Scott breaks down how bad news has impacted BDCs
Calamos' Freund: Concerns are 'distractions,' not market impediments
Enduring investment lessons from the legendary Mark Mobius
Liberty Street's Gutierrez on private investment trends in A.I.
Veteran manager says that for all the headline risks, this is a 'generic widening'
Despite scary headlines, low-A.I.-risk BDCs are worth a new look now
Nuveen's Weyandt on why current events make listed real assets look good
XA's Flynn on how private credit market is challenging BDCs, interval funds
John Cole Scott on how headline risks are impacting closed-end funds
Aberdeen's Gilhooly says oil could quickly reach $175 per barrel
Bluerock's MacDonald says 'uniquely boring' private real estate is value-priced now
John Cole Scott: BDC worries are creating headlines, opportunities
John Cole Scott evaluates Robinhood's new private-stock closed-end fund
Saratoga's Oberbeck: Headline troubles aren't signalling systemic credit issues
Trinity Capital's Brown sees BDC opportunity amid investor frustration
Aberdeen's Robinson on how emerging markets are now an AI play
John Cole Scott on 4th-quarter results and a hot new year's start for closed-end funds
Nuveen's Davis on what '25 has set up for closed -end funds in the year ahead
XA's Flynn on how interval fund indexes change the game
The year in review: John Cole Scott looks at his his 2025 predictions worked out
2026 outlook: John Cole Scott on what '26 holds for closed-end funds
Is activism in the UK following or leading the action in the U.S.?
Sit's Doty sees opportunities in the next Fed 'mess'
Bonus NAVigator: Bulldog Investors' Goldstein on the state of activism
CEF Advisors' Scott on the start of the 2025 tax-loss harvesting season
NAVigator bonus: Herzfeld's Paylor on how CUBA became a CLO fund
Talking closed-end funds on sale with John Cole Scott
David Tepper on how economic woes could create a closed-end meltdown
Aberdeen's Duitz on where he's turning for dividend growth now
ARDC's Brusky on how active management drives opportunities in a changing rate environment
Nuveen's Chintapalli says the high-yield market has never looked less junky
Year-end action - not bubble worries - will drive year-end CEF discounts
John Cole Scott on what's next for the BDC, private credit markets
Variant's Hicks on mixing an impact on more than investors' finances
XA's DiBernardo on covered-call strategies gaining ground and popularity
Are falling rates, changing conditions setting up BDCs for a fall?
With his fund up 100% this year, veteran manager says gold can go higher
John Cole Scott on when CEFs have the edge over ETFs
NAVigator bonus: CEF Advisors' Scott on picking and managing funds
Tortoise's Thummel says it's 'the best time i've ever seen' for energy investing
XA's Flynn on how crypto, private equity will impact retirement-savings plans
Oppenheimer's Penn: 'Fairly valued' BDCs
Calamos' Freund expects 4 rate cuts in a year, creating wider discounts
A battle over closed-end activism is now awaiting a Supreme Court decision
CEF Advisors' Scott on the realities and mirages of double-digit yields
Aberdeen's Akus on the struggles facing healthcare, biotech investors
Veteran manager says volatile market has stress-tested 'discount-capture investing'
John Cole Scott on the assets he expects to thrive for the rest of '25
Trinity's Brown: Near-shoring, interest rates and more are boons for private credit
Allspring's Schueller says this 'muddle-through economy' is good for junk bonds
Your questions answered with John Cole Scott of Closed-End Fund Advisors
Bonus NAVigator: Gladstone's Bob Marcotte at the AICA BDC Forum
Bonus NAVigator: Oppenheimer's Penn is watching how credit losses weigh on BDCs
How a BDC industry advocate shapes policies in Washington
Calamos' Grant on getting equity-like returns without market correlation
John Cole Scott on whether "the best funds" live up to their billing
Nuveen's Griggs: In turbulent markets, small portfolio tweaks have big impacts
CION's Gatto on how private markets have weathered tumultuous markets
Aberdeen's Kohl: Dividends offer some certainty amid tariff uncertainty
Oaktree's Poli: Amid concerns over stocks and bonds, credit is the place to be
Sit's Doty is trading up and still expecting double-digit gains this year
John Cole Scott on closed-end funds that can weather this storm
John Cole Scott on how the wild market action is impacting closed-end funds
John Cole Scott on finding 'the best' funds and more
Aberdeen Purington: Middle-market infrastructure will be a sweet spot for years
The NAVigator at FutureProof: Nuveen's Rodriguez on what wins with rate cuts
VettaFi's Islam: Now 15, the 'S&P 500 of closed-end funds' has a big impact
XA's Flynn: Healthy borrowers should keep CLO space humming
John Cole Scott on BDCs, how they stack up to closed-end funds and more
How activism in Britain holds lessons for American closed-end investors
Kayne Anderson's Baker on the big potential of energy infrastructure
Liberty Street's Munafo on hunting for unicorns in AI
CEF Advisors' Scott on discounts, wildfires, benchmarks and more
abrdn's Laranjeiro: Tax-exempt yields are an attractive option now
First Eagle's Holzenthaler says credit picture will get brighter with rate cuts
CION's Gatto on infrastructure investing and why his firm has a new fund for it
2024 in Review: John Cole Scott on how his forecasts turned out
2025 outlook: John Cole Scott on the year ahead for closed-end funds
Attorney Burdon on how Trump 2.0 may impact closed-end funds
Nuveen's Chintapalli sees big opportunities in global high yield
NAVigator bonus: High yield trending up, tech down and cash is an alternative
Hennion & Walsh's Mahn says rate cuts will push investors toward BDCs
Black Friday discount shopping with John Cole Scott
Double feature: Jim Cohen and Axel Merk from AICA's 2024 Roundtable
Abrdn's Duitz, from AICA Roundtable, on infrastructure plays post-election
XA's Hagen on the interval fund boom
AICA's Scott reviews 3Q's stellar results for closed-end funds
RiverNorth's Browne: Muni bond funds look cheap and promising now
Arrowmark's Staggs on an income-generating alternative play on banks
Digging into lesser-known interval fund picks with John Cole Scott
Barings' Feeley: Rate-cut cycle will make high-yield bonds more attractive
John Cole Scott on four funds to consider in the fourth quarter
abrdn's Laranjiero: Rate cuts should boost muni bond funds
Oppenheimer's Penn on how BDCs might fare when the rate cuts start
John Cole Scott on the potential benefits of sector swapping
John Cole Scott on how funds perform after tenders, closings, and dividend changes
NAVigator bonus: RVP's Fertig on what's attractive as rate-cut cycle starts
Saratoga's Oberbeck on the state of private credit ahead of interest rate cuts
CAIA's Filbeck on interval funds and media criticism of the structure
XAI's Flynn on growth and expansion in interval funds
BlueBay's Farley: 'We're looking at a multi-year high in default rates'
John Cole Scott on where closed-end funds stand at mid-year
abrdn's Akus sees opportunity as healthcare plays 'catch up' with the market
CION's Gatto: Money rushing into BDCs creates middle-market opportunities
Picking between funds is about much more than big yields
John Cole Scott on BDCs vs. private credit funds, AI impacting money management, and more
VettaFi's Islam on the highs and lows of applying rules to CEF investing
When the industry tries to narrow discounts, 'that's good for all of us'
Nuveen's Dave Lamb on how fund firms are reacting to increased activism
John Cole Scott on new trends reshaping closed-end funds
BlackRock's Minar on how the firm is changing discount plays
Sizemore: "The Fed's actions have changed, but the discounts remain"
Angel Oak's Triick says mortgages are in a fixed-income sweet spot now
Liberty Street's Munafo on opportunities in late-stage private venture
Abrdn's Mondillo: Record discounts plus solid yields should pay off for muni investors
John Cole Scott gives his first take on 2024
Sit's Doty says meaningful rate cuts aren't coming until 2025
Allspring's de Silva says U.S. still has the world's best income opportunities
What struggles in the BDC market portend in a changing rate cycle
Axel Merk on the broader impact of an activist investor's approach
abrdn's Omstead says the recent healthcare rally is just a start
Tough times for commercial real estate are making debt deals attractive
Calamos' Kaufman on launching a new ETF of closed-end funds now
Examining BDCs and muni funds, and deciding between the two
Regulatory capital relief securities add yield, diversification to banking portfolios
abrdn's Mondillo: Downtrodden muni funds now represent a big opportunity
SCG's Merrill on how derivatives mitigate risk and goose equity returns.
VettaFi's Islam on the ETFs that are buying closed-end funds
Angel Oak's Pate sees opportunities in banking as rate cycle pivots
CAIA's Filbeck on 'taking the alternative out of alternatives'
2024 look-ahead: John Cole Scott on what the new year holds for closed-end funds
2023 Year in Review: Closed-end funds bounce back, but leave room for more
Nuveen's Langenfeld: 'A timely opportunity' to invest in preferred securities
Thornburg's Sparkman lengthens maturities and leans international now
Abrdn's Taggart says discounts are 'overplayed'
ASA Gold's Merk on how precious metals will respond in a coming recession
Let's go Black Friday discount shopping with John Cole Scott
Sit Invest's Doty on muni-bond discounts and how they will be trimmed
Abrdn's Purington: Exxon, Chevron deals will trigger an infrastructure merger wave
XA's Perry looks at the boom in non-listed funds
Angel Oak's Pate: Bank debt should 'outperform in the current environment'
John Cole Scott reviews a rough quarter for closed-end funds
VettaFi's Islam on the struggles/potential of ETFs buying closed-end funds
Calamos' Bush: Tough conditions for closed-end funds to stand out, excel
Blue Bay's Farley: Rate turmoil is making opportunities in event-driven credit
Muni discounts keep defying gravity; sizing up fixed-income risk and more
Angel Oak's McBurnette on opportunities in housing, mortgages
Oppenheimer's Penn: BDCs have adjusted to higher default risks
Four classic closed-end funds that remain relevant and vibrant today
40 closed-end funds, a million ways to build a portfolio
NAVigator bonus: Discounts are at widest levels in years, hunker down and buy
Liberty Street's Munafo says opportunity is knocking for private shares
Nuveen's Caraher: High-rates-for-longer puts emphasis on credit selection
Economic conditions have given private credit lenders more power
Abrdn's Duitz says private infrastructure values 'make no sense' right now
NAVigator bonus: As market nears record highs, Boughton still finds lots to buy
In high-rate environment, don't replace individual bonds with bond funds
New SEC liquidity rules could spawn a boom in interval funds
XA Investments' Flynn sees rapid growth in interval funds using alternatives
Closed-End Fund Advisors' Scott on the funds he is using most for clients now
BDCs are well-positioned to handle Fed policies and recession
Gabelli's Marangi expects market is about to widen its opportunity set
Nuveen's Baker: Look beyond yield to find opportunity in preferreds
A 'Wall of Meh' in sentiment is an opportunity for closed-end fund investors
BlueBay's Farley on zagging while the credit market zigs
Calamos' Freund: Rates could be as range-bound as stocks for a while
Kayne's Baker: Energy industry is well set up for the next five years
Liberty Street's Munafo tells the two stories facing private equity now
The NAVigator at Morningstar: Mario Gabelli on his long closed-end fund career
VettaFi's Islam: ETFs give closed-end investors easy, ready-made portfolios
Abrdn's Mondillo on the muni market's year of wild swings
John Cole Scott on private equity's increasing role in closed-end investing
Angel Oak's Pate sees 'a once-in-a-decade opportunity for the banking space'
RiverNorth's O'Neill: Muni funds are 'in the 99th percentile of cheapness'
Sit Funds' Doty: Banking woes are creating closed-end opportunities
CEF Advisors' Scott: Upcoming rate, inflation headlines won't rattle BDCs
Reaves' CEO Rhame: Despite high-rate, high-inflation market, utilities are worth a look
XA's Perry says leverage in rising-rate world is a double-edged sword
GraniteShares' Rhind: Inflation's peak improves prospects for BDCs and CEFs
Wallach Beth's trading director on CEF liquidity and execution
CEF Advisors' Scott on how the '23 hot start changes the closed-end landscape
Abrdn's Purington: Middle-market infrastructure has some extra pop right now
Nuveen's Nate Jones: Upward sloping muni yield curve creates opportunities
ASA Gold's Merk: The market is already pricing in a recession
Angel Oak's Pate: End of the rate-hike cycle will pay off for banks in '23
AICA's John Cole Scott: Expect the weak to get stronger in 2023
2022 Year in Review: Promising opportunities arise from tough times
VettaFi's Morris: For investors playing defense, midstream companies make sense
RiverNorth's O'Neill: 'Tis the season to go discount and bargain hunting
Saratoga's Oberbeck: The Fed's moves have put BDCs in a good spot
John Cole Scott goes discount shopping for Black Friday
First Trust's Grayson: Interval funds are a way to zig against the market's zag
Oppenheimer's Penn: BDC payouts have improved, but credit risk is up too
CEFA's Scott: Rate uncertainty creates values in muni bonds
Parametric's Milner: Closed-end funds are reaching a point of 'great opportunity'
Octagon's Lam: Rising rates are creating an opportunity in the loan market
BlueBay's Farley: Event-driven investing 'should get a lot easier'
Calamos' Bush: Convertibles haven't delivered on their promise, yet
Choose your weapons: Arming yourself against rising rates and recession
Validus' Mark Scalzo discusses 'direct listing,' alternatives and a massive discount
Trinity Capital's Brown on double-digit yields and venture-backed growth
Angel Oak's Pate: Aggressive Fed actions puts community banks in a sweet spot
Abrdn's Duitz: Recessionary pressure is good for infrastructure, dividend plays
Protections in Delaware law could change activist investing
VettaFi's Islam talks the benefits of an index of closed-end funds
Sit's Doty sees current market creating a sweet spot for CEFs
The difference between funds with discounts or premiums is more than pricing
Nuveen's Ryan: Municipal bonds have stabilized and are poised to recover
Private equity zags in market where everything is moving (down) together
John Cole Scott: Expect 'upside surprises' for BDCs during earnings season
Rob Shaker: 'Sympathy widening' could signal a bottom for discounts
XA Investments' McCulloch sees more growth, new entrants to interval funds
CEF Advisors' Scott: No time like the present for tax-loss sales
Nuveen's Holzenthaler: Surprise, it's 'a buyer's market' on senior loans
Pre-market SPACs offer unique opportunity, given current conditions
EIP's Brothwell: Energy market amid supply woes requires diversification
Five 'plain vanilla' closed-end funds for these markets
BDC Reporter's Marshi is 'quite optimistic,' even if there's a recession
Blue Bay's Farley: Investors 'aren't buying the dips, they're selling the rallies'
Is liquidity 'a feature or a benefit' of closed-end funds?
The search for funds in today's 'painful, ugly shocking' closed-end environment
Low-return environment calls for savvy allocations, risk management
Taggart: Closed-end funds struggled and discounts widened during 1Q
For private-equity success, commit to riding 'the J-curve'
Steven Bavaria on how the 'Income Factory strategy' copes with current conditions
Private equity fund lets ordinary investors go after assets previously off-limits
How to size up BDCs to determine the standout buys
Matisse's Boughton: International, emerging-markets stocks are 'dirt cheap'
How current events are impacting the capital markets
Your questions answered with Mike Taggart, AICA executive director
AICA's Scott: Closed-end fund 2.0 is off to a strong start
Taggart: As unrest widens discounts, buy the asset not the bargain
BDCs and middle-market credit can solve rising-rate puzzle
Bonus episode: Rate and inflation picture are triggering rotation
What to expect from closed-end funds in a rising-rate environment
In the closed-end discount cycle, now is the time to be buying
Blue Bay's Farley: Lots of market events, limited good investment opportunities
With or without legislation, infrastructure's on the upswing
Cliffwater's Condrell: Middle-market credits smooth portfolio returns
Flat Rock sees big value in the trade-off of liquidity for return potential
John Cole Scott's crystal ball view of 2022 in closed-end funds
Big premiums and high dividend yields key a banner year for closed-end funds
How shareholders benefit from 'follow-on offering' trend
Activism isn't waning, but rules governing it are changing
Consider an interval fund as the place for your muni bond holdings
Infrastructure needs will fuel real asset plays for decades
A check on BDC developments, and performance versus REITs
Closed-end fund 2.0 is a bigger deal than the ETF revolution
Record supply of high-yield bonds helps to overcome inflation fears
The outlook for BDCs is strong heading into 2022
Market conditions should drive bond investors to floating-rate loans
'My fund wants to pay distributions in shares; is this good or bad?'
Solid energy infrastructure plays aren't going away, now or long-term
Closed-end funds aren't just for retirees any more
Preferred securities are the 'sweet spot' in this market
A bond-fund mix can safely stretch for yield
Closed-end funds provide a better balance between liquidity and returns
Robinson's Browne: How to overcome current fixed-income struggles
Recovering at a different pace, India is a unique opportunity
Less opportunities to generate income requires creative solutions
Private equity adds spice, return potential and diverse returns
Create a 'quasi-bond' to get steady, high returns now from closed-end funds
'Distribution coverage ratios' give clues on potential payout cuts
Taggart says investors can find the devil is in merger details
TortoiseEcofin's Kessens: Expect double-digit returns from energy
BDC Reporter's Marshi sees a 'golden age' ahead
Bonus NAVigator: ICON's Paul still likes closed-end fund opportunities
Tax edge makes munis attractive even as discounts shrink
Tekla's Omstead: Great promise from 'a new generation' of health care firms
Bulldog's Goldstein on the hard path facing activist shareholders
John Cole Scott on discounts vs. dollars, the recovery and what's next
Rob Shaker on what's next for closed-end discounts
Covered call funds help combat heightened volatility
Tender funds offer alternative structure and investments, plus flexibility
Griffin's Anderson sees broad opportunities, solid trends in real estate
Firms benefit from using alts, ESG both here and abroad
NAVigator bonus: Matisse Cap's Boughton talks discounts, MLPs and more
How closed-end funds can be an investor's 'paycheck-replacement system'
'Once you own a closed-end fund, you shouldn't care what the discount is'
Finding big discounts is hard, but closed-end funds remain attractive
Convertibles are acting more like stocks than bonds
Finally, ESG investing gains a foothold in closed-end funds
The role of closed-end funds in the changing 60-40 portfolio
How alternative credit types can build returns and balance risks
Interval fund structure lets manager freely pursue the 'best ideas'
Owl Rock's Packer: BDCs have been strong through pandemic and getting stronger
Nuveen's Miller: Legislation, economic reopening give munis a boost
NAVigator bonus: Finding a balance of high yield and risk in BDCs and closed-end funds
Water is an overlooked part of infrastructure investing
Legendary manager Wick on the workings of his closed-end fund
Rareview's Azous talks the dangers that rising rates pose now
NAVigator bonus: Look beyond yield and discount in picking closed-end funds
Closed-end fund expert Fertig says values now are more 'relative' than ever
Aberdeen manager says Covid 'put real estate in the crosshairs'
US asset managers turn to London to raise capital via closed-end funds
Why closed-end directors need more than a rubber stamp
Value stocks are set up for a good run in 2021 and beyond
Fixed-income investors must be 'more creative, more thoughtful and do more homework'
Brookfield's Antonatos sees policies and pandemic's end boosting real assets
The good, bad and ugly of closed-end investing from 2020
Angel Oak's Pate: Financials are at a good point 'for valuations to take off from here'
RiverNorth's Kerai: Yield-hungry investors should look to private capital market
Nuveen's Clark says Covid disrupted the stability for real estate and infrastructure
Think of closed-end funds as 'alternatives light' to solve yield woes