RSF - RiverNorth Specialty Finance: A 9.6% Yielder That Checks All Our Boxes

• This is a unique interval fund CEF structure that allows investors to sell back a small piece of their shares at NAV quarterly. Think of it as a tender offer.
• The fund changed its portfolio strategy to be more specialty finance as opposed to marketplace lending securities. The fund still has a small (<10%) allocation to those.
• Most of the fund is invested in BDC baby bonds and notes. The rest is in other bond CEFs and BDCs.
• They also have an allocation to CEFs as well as a large single whole loan to Square Inc.
• This one checks all the boxes for what we are looking for in the "current" CEF environment for an allocation shorter term (<1 year) with strong NAVs, high yield, and decent discount.

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