Fuse Blog

Credit/Income Strategies See Strong Growth in the Unlisted Closed-End Fund Market

  • Since year-end 2020, credit/income assets in the unlisted closed-end fund (CEF) market have grown 137%, from $18.9 billion to $44.7 billion in 2Q23. This growth has been steady and consistent, increasing by 14.4% during the first half of 2023 alone.
  • As a result of this rapid growth and the current environment, interest in the category continues to increase. During the first three quarters of 2023, more than half of new fund filings for interval and tender-offer funds by category have been credit/income-based strategies.
  • Credit/income strategies accounted for 14% of total tender-offer fund assets at the end of 2Q23, up from 13% at the end of 2020. The category has seen much stronger growth in interval funds, where credit/income has grown from 37% of total assets at year-end 2020 to 55% at the end of 2Q23.

Unlisted CEF Market: Credit/Income AUM, 2020-2Q23 ($M)

Blog 11.7.23

Source: FUSE Research Network