Leveraging Interval Funds to Generate Alpha for Active Strategies

The objective of this paper is to scope out the investment landscape for interval funds and tender offer funds, along
with the pros and cons of these product structures compared to their comparative product wrappers. As a result of
several annual advisor surveys, we believe that retail investors are looking for income-generating strategies that can also deliver alpha, with returns that are not correlated to the broader markets, and are willing to live with less frequent liquidity without giving up transparency.