ARDC News and Press, Ares Dynamic Credit Allocation Fund Inc. From 07/09/21

HFRO is proposing to convert from a closed-end fund structure to a diversified holding company. HFRO's opaque and illiquid portfolio has significantly underperformed since inception. I recommend shareholders vote "no" unless more significant concessions are made. For further...

Only funds with yields over 7%, coverage higher than 85% and trading at under a +5% premium are considered. Top lists of discount, yield, DxY and DxYxZ are given. The top DxY funds are AOD, ISD and GHY. ISD and GHY are relatively conservative high-yield funds with decent credi...

During much of last quarter, the Atlanta Fed’s GDPNow model indicated an annual rate over 10% for the second quarter, but last Friday, they downgraded their estimate to the lowest number we’ve seen since the quarter began - an annual pace of just 7.8%, down from +8.6% on Jul...

Risk-adjusted performance for the Global Market Index (GMI) continued to push higher in June, based on the annualized Sharpe ratio for a rolling ten-year window via monthly data. GMI’s 10-year SR increased to 0.84, the highest in 18 months. GMI is an unmanaged, market-value...

The expected risk premium for the Global Market Index (GMI) resumed an upward drift in June, rising to an annualized 6.0%. The current risk premium forecast for GMI - 6.0% - suggests that multi-asset-class strategies will generate lower returns relative to results posted in recent yea...

FSLF will liquidate in another Saba victory. The managers did not appear to put up much of a fight. Slight NAV drop towards expiry may be instructive for further liquidations. Former FSLF holders should expect to get paid from July 14, 2021. For further details see: ...

MSCI US REIT Index rallied 2.7% in June, which marks an impressive run of eight consecutive monthly increases. The Russell 3000 Index jumped 2.5% in June, the fifth straight monthly advance. Comparing GMI to US stocks and bonds shows that global asset allocation remains competitiv...

US inflation continued to soar in May, with the Core Consumer Price Index up 0.7% month over month and 3.8% year over year. Fears around rising rates center on the rapidly recovering US economy, which will soon require tapering of purchases in the US Federal Reserve’s quantitat...

Rising Star volume gains momentum as the global economy continues its recovery, which we believe will provide attractive total return opportunity in Fixed Income. Over the course of 2020, as the COVID-19 pandemic adversely impacted fundamentals and markets, we experienced a new record...

With the economic recovery undeniably ramping up, we ask managers for their thoughts on valuations in the markets. While lockdowns were protracted affairs for so many of us, the economic recovery has been astoundingly rapid in many parts of the world. Regardless of the shift in to...