Closed-end fund 2.0 is a bigger deal than the ETF revolution
The NAVigator · Active Investment Company Alliance
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Show Notes
Michael Spatacco, director at Bancroft Capital, says that the latest evolution in closed-end funds will have more impact on the closed-end fund business and the evolution of funds and how they are sold than exchange-traded funds had on the traditional mutual fund industry. In a wide-ranging discussion on the state of the closed-end fund business, Spatacco says that the ETF evolution mostly changed the way funds are built, with the underlying investments remaining mostly the same; the changes in the closed-end fund business have dramatically expanded new offerings and who will participate in new funds, which is leading to the development of more new and interesting closed-end funds.