Thought Leadership Sessions
Tuesday, November 9 | Wednesday, November 10
November 9
Noon–12:50 p.m.
Sponsored Thought Leadership Sessions
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Calamos Investments
Providing Investment Solutions and Optimizing the Shareholder Experience for CEF Clients
The panel will discuss the thoughts and collaborative processes involved in originating, managing, and providing secondary market support of a CEF product to best optimize the overall experience for our clients.
We will address the factors involved in assessing our client’s needs in the context of the macroeconomic environment at hand, then properly aligning those solutions in products designed to be successful over the long term. We will focus on active management, which includes asset allocation, leverage levels, and distribution rates. Of most importance is our support of the product in the secondary market, as portfolio management, sales, marketing, and product work together to keep our clients informed on all aspects related to our CEFs.
Moderator
ROBERT BUSH
Senior Vice President, Director of Closed-End Fund Product
Calamos InvestmentsSpeakers
JOHN CALAMOS
Founder, Chairman and Global CIO
Calamos InvestmentsTIM BRAND
Senior Vice President and Head of US Intermediary Distribution
Calamos Investments -
Stradley Ronon
The Leverage Landscape and Activist Defense Shoreline: Popular Destinations on the Closed-End Map
Join us as we embark on a journey through the statutory road map underlying closed-end fund leverage, examine recent trends, and traverse the substance and impact of recent criteria revisions enacted by credit rating agencies. We’ll continue down the road, giving practical guidance for closed-end fund boards to consider in ensuring that fund governing documents provide direction for optimal protection against activist investors.
E. TAYLOR BRODY
Partner
Stradley RononDAVID P. GLATZ
Partner
Stradley Ronon
2:25–2:45 p.m.
Sponsored Coffee Break
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Nuveen
Capital Markets: Leveraging ETF Expertise to Benefit Closed-End Funds
Capital markets teams are often recognized as the glue unifying portfolio management, market making, trading, operations, product development, and sales because of their unique understanding of the mechanics of each role and how to bring each together. Effectively navigating the capital markets ecosystem can lead to improved secondary market conditions such as tighter spreads, deeper markets, lower volatility, and narrowing of NAV discounts, which ultimately improves trade execution and enhances investor returns. Appropriately, this is why ETF sponsors employ dedicated capital markets specialists. A similar focus is also critical to closed-end funds, where secondary liquidity can be limited and adviser-driven initiatives such as ATM Shelf and Share Buy-Back programs can affect NAV and secondary trading performance. During this session, Briton Ryan, Nuveen’s head of capital markets, will discuss how some of the traditional practices used within the Nuveen ETF space are leveraged to support their closed-end funds post IPO.
BRITON RYAN
Head of Capital Markets
Nuveen
November 10
Noon–12:50 p.m.
Sponsored Thought Leadership Sessions
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Dechert
Cryptocurrency and Blockchain Developments for Closed-End Funds
The past few years have been very good for bitcoin and other cryptocurrencies. Many more investors are considering this asset class for inclusion in their portfolios. Both traditional and alternative investment management firms are also considering adding bitcoin and other cryptocurrency exposure to their closed-end funds. In addition, the development of other digital assets and blockchain technology generally have advanced steadily. With a rapidly changing regulatory environment and entrepreneurial firms looking to launch innovative products and solutions, exposure to bitcoin and other cryptocurrencies raises potentially novel considerations for closed-end funds.
TIMOTHY SPANGLER
Partner
Dechert
2:40–3:00 p.m.
Sponsored Coffee Break
Faegre Drinker Biddle & Reath
ESG Investment Product Disclosure and Treatment of ESG Investment Products Under the Names Rule
The SEC continues to consider ESG disclosure rules related to investment companies and investment advisers and amendments to the Names Rule. Given the development in ESG investing and the significant inflows of capital to ESG-related services and investment products, there is increased pressure on managers of ESG-labeled investment products to show that they are being truthful with investors about their products. During this conversational session, attendees will gain insights about the current developments related to the use of ESG factors in a product’s strategy and investment process, how to avoid greenwashing, and how to avoid a deceptive or misleading fund name.
WALÉ ORIOLA
Counsel
Faegre Drinker Biddle & Reath