Midyear CEF Market Review & Outlook

Leading closed-end fund analyst Jeff Margolin with First Trust returns to CEF Insights to review the first half of 2025 and share views on the market ahead. First Trust is a leading provider of advisory services and investment products including closed-end and interval funds.

As investors seek higher-yield alternatives, direct lending-focused private credit strategies continue to dominate the growing interval fund marketplace – but Calamos Investments takes a differentiated approach. Discover how Calamos Aksia Alternative Credit and Income Fund (CAPIX) offers access to the full spectrum of private credit, and more views on the interval fund market from Senior Vice President & Portfolio Specialist Phil Bauer. Calamos Investments is a diversified global investment firm offering a variety of innovative investment strategies including CAPIX.

In a high-rate, volatility-prone market, strategies emphasizing resilient, income-generating sectors and tactical asset allocation can potentially help investors secure attractive yield and weather changes. Gain insight into ClearBridge Investments’ strategy for equity and income from Portfolio Manager Peter Vanderlee.   A Franklin Templeton company, ClearBridge Investments is a sub-advisor to LMP Capital and Income Fund Inc. (SCD), which seeks total return with an emphasis on income.

Groundbreaking AI-powered initiatives are set to transform the healthcare landscape, potentially revolutionizing cancer research and healthcare investing. Gain insight into how new innovations may impact investment opportunities and Aberdeen Investments closed-end healthcare fund strategies for income and capital appreciation. Aberdeen Investments is a global specialist asset manager with a range of closed-end healthcare funds, each with a distinct focus and managed by seasoned professionals with deep expertise in the ever-evolving healthcare sector.

Ongoing market volatility may not surprise investors — but the potential of a multi-sector bond strategy to deliver reliable income might. In this episode, discover how a dynamic credit allocation can help investors manage risk and stay resilient from Mike Buchanan, Chief Investment Officer at Western Asset Management. A Franklin Templeton company, Western Asset Management is the investment advisor for the Western Asset Diversified Income Fund (WDI).

As global energy demand continues to surge, infrastructure investment maintains a critical role in meeting the needs of tomorrow. Gain updates on the current market, outlook, and potential opportunity for income-focused investors from CBRE Investment Management Chief Investment Officer Jeremy Anagnos.   CBRE Investment Management is sub-advisor to the NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI), managed by New York Life Investments. The Fund’s primary investment objective is to seek a high level of total return with an emphasis on current income.

With additional capital raised in 2024, the Advent Convertible & Income Fund (AVK) balances convertible securities and high yield bonds as it aims to provide capital appreciation and income amid current market conditions. Gain updates on the Fund’s portfolio allocation, performance and potential opportunities from Portfolio Manager Tony Huang. Advent Capital Management is the Investment Adviser of the Advent Convertible and Income Fund (AVK). The Servicing Agent for the Fund is Guggenheim Funds Distributors.

Easing interest rates, stabilizing inflation and resilient economic growth could make real assets like infrastructure and real estate attractive opportunities for new capital deployment in 2025. Gain insight into the potential of real assets with Brookfield Oaktree’s 2025 outlook, strategy and more. Brookfield Oaktree Wealth Solutions provides financial advisors and their clients with a variety of alternative investments, including the Brookfield Real Assets Income Fund Inc (RA), managed by Brookfield Public Securities Group.

Whether Fed adjustments lead to a soft landing or further easing, mortgage securities’ diversification benefits and potential for higher yields with reduced volatility make them an attractive option for income-oriented investors. Discover Western Asset Management’s unique approach to the strategy with the Western Asset Mortgage Opportunities Fund (DMO) and 2025 fixed income outlook. A Franklin Templeton company, Western Asset Management is the investment advisor for the Western Asset Mortgage Opportunities Fund (DMO).

Gold continues to trade near all-time highs. As the broader market sees interest rate cuts and improving inflation mixed with challenging federal deficits, an election and other factors, where can investors find potential opportunities? Gain insight into gold, precious metals and minerals with a sector review and outlook from Merk Investments President and Chief Investment Officer Axel Merk. Merk Investments focuses on gold, precious metals, and minerals, and is the Advisor to ASA Gold and Precious Metals Limited (ASA), a closed-end precious metals fund.