HeyJaredThe NAVigator
The NAVigator, from the Active Investment Company Alliance (AICA), talks all-weather investing and "excellence beyond indexing" through the use of closed-end funds (CEFs) & business-development companies (BDCs).
- Indexed episodes, last 90 days
- 12
- Latest publication
- Sep 25, 2026
- Audience
- Checking…
- Earliest in this view
- Jul 10, 2026
Latest episodes
Aberdeen's Kence on A.I.'s impact in the high-yield market (opens the original)
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Matt Kence, Portfolio Manager at Aberdeen Investments , discusses the current state of the high-yield market and how it is responding to rising interest rates, noting that fundamentals remain surprisingly robust, with moderate levels of leverage and strong interest coverage. Kence, who manages the Aberdeen Credit Income Strategies fund (ticker ACP) says that defaults in the high-yield space have been well below long-term averages, but he does note that the selection of individual credits is crit
XA Investments' Choi on opportunities in the CLO market (opens the original)
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Young Choi, Portfolio Manager for the XAI Floating Rate & Alternative Income Trust , says there is more value and broad movement in the secondary markets for equity collateralized loan obligations, whereas opportunities in debt CLOs have been more specific and sporadic. Choi, the global head of trading at King Street and a portfolio manager for Rockford Tower, which took over as advisor for the XAI fund, discusses how the CLO market has been changed by the emergence of CLO ETFs, noting that they
If you never capture the discount, is a fund still a bargain? (opens the original)
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John Cole Scott, President of CEF Advisors , answers listener questions today, including one from an investor with two closed-end funds that have been stuck with large discounts seemingly the entire time he has owned them. Scott, who also serves as chairman of the Active Investment Company Alliance , discusses how discounts change a fund's risk profile, even if they never get narrowed, and how investors should value and perceive those benefits. He also answers questions on achieving balance in a
John Cole Scott says BDC 'software problems' aren't surfacing in the data (opens the original)
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Business-development companies saw their share prices get hammered early this year as the market worried about an overexposure to parts of the software industry that could be negatively impacted by artificial intelligence. John Cole Scott, President of CEF Advisors , looked at BDC data before and since those problems and says it appears that fears of A.I. risk were exaggerated since "We're still not seeing software blowing up BDCs." Scott, who also serves as chairman of the Active Investment Com
Tortoise's Thummel on why natural gas will help the U.S. win the global A.I. race (opens the original)
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Rob Thummel, Senior Portfolio Manager at Tortoise Capital , says that for all of the power needs created by artificial intelligence, producers still need their power costs to be reasonable, and he expects that natural gas will lead the way going forward. Thummel, who runs Tortoise Energy Infrastructure fund , says current conditions for energy infrastructure remain the most favorable he has seen in 30-plus years as a portfolio manager, largely because energy is "the foundation of the A.I. five-l
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