Interval Funds a Bright Spot in Alternative Investments Space

January 4, 2018

Interval Funds a Bright Spot in Alternative Investments Space

January 4, 2018 | James Sprow | Blue Vault

Interval Funds

Interval funds were filing registration statements at a healthy pace in the fourth quarter of 2017.  Six new interval funds filed initial registration statements with the SEC in Q4 2017, compared to just three nontraded REIT offerings. For the year, 2017 saw 13 new interval fund registrations compared to a total of 27 in 2016. At the end of 2017, interval fund assets exceeded $23.8 billion, and net assets increased to $19.9 billion, according to Interval Fund Tracker. This compares to the approximately $87.9 billion in total assets within the nontraded REIT space. 

Four of the six new interval fund registrations have strategies to invest in credit instruments while two will plan to focus on real estate. Carlyle and Broadstone, two large alternative investment managers, have entered the interval fund market with new products. Carlyle’s global credit platform has over $31 billion in assets under management and their interval fund, OFI Carlyle Global Private Credit Fund will focus on fixed-income securities and credits, including loans, private credit, opportunistic credit and liquid credit. Broadstone Real Estate Access Fund will invest in private CRE and focus on direct real estate investments or in real estate operating companies that acquire, develop and manage real estate. Broadstone currently manages two privately offered REITs, Broadstone Net Lease and Broadtree Residential, and manages commercial and residential real estate across 37 states. 

Interval fund offerings are continuous and are required to offer to repurchase shares from shareholders at periodic intervals, often quarterly, and also provide improved transparency by determining net asset values of shares as often as daily. 


Track developments in one of the fastest growing alternative investment industries…

Blue Vault’s Interval Fund and Nontraded CEF Review covered both interval funds and nontraded closed-end funds (CEFs). The next Interval Fund and Nontraded CEF Review will include even more Interval Funds and Closed-End Funds that have registered offerings since March 2017. Strategies of these funds can range from real estate to hedge funds, so research on investment strategy is very important for this diverse set of alternative investments. The research covers key performance metrics, investment strategies, and the associated investment managers.

The report covers over 20 metrics and data points on individual funds including, but not limited to:

Total assets under management (AUM)
Net capital raised
Explanation of investment strategy and management team
Historical price and trends
Distribution yields
Comparisons of earnings and distributions payout
Fund operating expenses
Leverage ratios
Total return performance
Portfolio yields and return on equity (ROE)
Top portfolio holdings
Asset class holdings breakdown

Additionally, the report summarizes top-level industry information on a number of existing and registered funds, total AUM, etc.

See a full-size sample page by clicking here.

Blue Vault’s second Interval Fund and Nontraded CEF Review covers the following funds.

Interval Funds

Alternative Strategies Fund
FS Energy Total Return Fund
Griffin Institutional Access Global Credit Fund
Multi-Strategy Growth & Income
NexPoint Real Estate Strategies Fund
Resource Credit Income Fund
Resource Real Estate Diversified Income Fund
Sharespost 100 Fund
Stone Ridge Reinsurance Risk Premium Interval Fund
Total Income + Real Estate Fund
Versus Capital Multi-Manager Real Estate Income Fund
Vertical Capital Income Fund
Wildermuth Endowment Fund

Nontraded CEFs

Blackstone Real Estate Income Fund
FS Global Credit Opportunities Fund
Priority Income Fund
TriLinc Global Impact Fund
Triloma EIG Energy Income Fund
Triloma EIG Energy Income Fund – Term I

Curious about becoming a Blue Vault Subscriber?

Financial advisors contact Dawn McDaniel at Dawn.McDaniel@BlueVaultPartners.com or 678-456-4787.

Product sponsors contact Brooke Heffington at Brooke.Heffington@BlueVaultPartners.com or 678-456-4290.

Contact Betsy Ricks at Betsy.Ricks@BlueVaultPartners.com or 678-456-4640 if you are a:

  • •Broker Dealer
  • Real estate investment company
  • Investment bank
  • Retail investor
  • Any entity other than a sponsor or financial advisor with a retail book of business

Contact Brooke Heffington at Brooke.Heffington@BlueVaultPartners.com or 678-456-4290 for information on advertising, reprint licensing or custom research.

Blue Vault does not offer investment advice and does not make buy or sell recommendations for any of the Interval Funds and nontraded Closed-End Funds monitored.

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September 13, 2017

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