First Trust's Grayson: Interval funds are a way to zig against the market's zag

Michael Grayson, portfolio manager for First Trust Capital Management -- where he oversees their Alternative Opportunities, Private Credit and Real Assets funds -- says that investors should be sacrificing some liquidity for the flexibility to get different assets into their portfolios and to have investments that capture most of the upside in bull-market times while protecting capital during market dislocations. That's how the funds he manages have fared over the last two years and he says that current market conditions are bringing out the best properties in interval funds, making them more attractive for investors now.