REAL ESTATE INTERVAL FUNDS & CREDIT CLOSED-END FUNDS
Summit Investment Research has launched research coverage of 10 real estate interval funds, 11 closed-end credit funds, and 4 other interval funds with research coverage of additional funds in 2018.
Interval and closed-end funds have diverse investment strategies ranging from non-investment grade credit to commercial real estate to residential mortgages. Summit’s research reports provide insights into current performance, investment risk, and cost structure of the interval fund. Our research will continue to expand with more in-depth analysis of each interval fund and market-level reporting to better monitor current and expected performance.
Investors need to understand the investment strategy and risk/return profile of interval and closed-end funds, which have reported varying results. Interval funds focused on private institutional real estate have led the way with stable returns, while interval funds focused on listed REITs and non-listed REITs have posted mixed results. Credit funds have experienced volatile returns over the past four years, as credit markets have remained highly volatile.
Current real estate interval funds covered include:
Alternative Strategies Fund
Griffin Institutional Access Real Estate Fund
Multi-Strategy Growth & Income Fund
NexPoint Real Estate Strategies Fund
NorthStar Real Estate Capital Income Fund
Resource Real Estate Diversified Income Fund
Total Income + Real Estate Fund
Versus Capital Multi-Manager Real Estate Income Fund
Vertical Capital Income Fund
Current credit closed-end funds covered include:
CION Ares Diversified Credit Fund
FS Global Credit Opportunities Fund (Funds A, D, T, T2 & ADV)
Griffin Institutional Access Credit Fund
Priority Income Fund
Resource Credit Income Fund
Sierra Total Return Fund
Stira Alcentra Global Credit Fund
Other interval funds covered include:
FS Energy Total Return Fund
Triloma EIG Energy Income Fund
Triloma EIG Energy Income Fund - Term I
Wildermuth Endowment Strategy Fund
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