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Nine Investment Must Reads This Week

KKR logged $3 billion in sales in products aimed for the private wealth channel—up from $400 million in sales per quarter in 2022. Morningstar published an explainer on the growing world of interval funds. These are among the investment must reads we found this week for wealth advisors.

  1. KKR Logs $3B Sales Burst in Q1 for Advisor-Market Alts “The $2.8 billion first quarter haul is a big move upward for KKR, which had averaged about $400 million in sales per quarter for its wealth market alts products in 2022, according to data presented by Eric Mogelof, head of global client solutions, and Alisa Wood, a partner in KKR's private equity business and co-CEO of its private equity conglomerate, as the operating company strategy is known.” (FundFire)
  2. What Advisors Need to Know About Interval Funds “Through interval funds, investors can tap into opportunities with different risk and return profiles than traditional investments. Fund managers can expand their options to mitigate downside risk, enhance income, or diversify revenue streams.” (Morningstar)
  3. Franklin Templeton Turns Toward Private Investing as Mutual-Fund Business Shrinks “Major strategy shifts such as this are hard to pull off and Franklin has a big hole to dig out of. What’s more, mergers among asset managers are notoriously tricky because of the potential for a culture clash that could result in the departure of investment professionals and clients.” (The Wall Street Journal)
  4. Bitcoin returns “too significant to ignore” for world’s retirement plans “GPIF isn’t alone. In the United States, a bill was recently introduced in Arizona’s state legislature encouraging the Arizona State Retirement System and the Public Safety Personnel Retirement System to explore investing in digital assets and Bitcoin ETFs.” (Cointelegraph)
  5. Fidelity Unveils Options-Based Liquid Alt ETFs “The new ETFs tap into demand from investors for more options-based products after the success of funds like the nearly $34 billion JP Morgan Premium Income (JEPI) and its various copycat funds. While JEPI uses options on fixed income, a variety of income-from-equity ETFs have started in the past year as the trend has taken off.” (
  6. Private credit boom helps secondaries market heat up “The exact size of the secondaries market — where investors in private credit funds sell their stakes early — is unknown. But players in the field told Pensions & Investments they are seeing annual deal flow volume ranging as high as almost $30 billion, a large increase from even a few years ago.” (Pensions & Investments)
  7. Retail Buy-In: Demand for CLO ETFs Jumps “Since the first CLO ETF was launched in September 2020, the space has grown to 10 funds and $8.9B in assets-under-management (AUM), per LSEG Lipper. While a few of these will invest in lower rated CLO debt, most are focused on CLO AAA rated bonds.” (LSTA)
  8. Insurers Flock into Private Debt, Alternatives, Mercer Says “According to the survey, 39% of respondents say they plan to increase their allocations in the private markets this year. In total. 73% of respondents said they already invest in the private markets or plan to do so this year.” (Chief Investment Officer)
  9. There's an ETF for That? Investing in IPOs, Mergers, and Spin-Offs “Special situations investing doesn't limit itself to these categories; it also encompasses spin-offs, restructurings, take-private transactions and other corporate actions that can create value. Here's a look at three unique ETFs in this category to watch.” (ETF Central)
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