Core Viewpoint - Power & Infrastructure Split Corp. has launched an at-the-market equity program to issue Class A and Preferred Shares, aiming to raise up to $50 million for each share class through the Toronto Stock Exchange [1][2]. Group 1: ATM Program Details - The ATM Program allows the Fund to sell Class A and Preferred Shares at prevailing market prices, with sales conducted through the TSX or other Canadian marketplaces [2][3]. - The program is effective until February 16, 2028, unless terminated earlier by the Fund [3]. Group 2: Investment Objectives - The Class A Shares aim to provide regular monthly non-cumulative cash distributions and capital appreciation through exposure to a diversified portfolio of dividend-paying securities in the power and infrastructure sectors [4]. - The Preferred Shares are designed to offer fixed cumulative preferential quarterly cash distributions and to return the original issue price of $10.00 by May 29, 2031 [5]. Group 3: Performance Metrics - Since inception, Class A Shares have delivered a total return of 13.8% per annum, outperforming the S&P Global Infrastructure Total Return Index by 3.7% per annum [6]. - The Preferred Shares have provided a total return of 5.1% per annum since inception, with downside protection of approximately 54% based on the latest net asset value [6]. Group 4: Company Background - Brompton Funds, established in 2000, is the investment fund manager for Power & Infrastructure Split Corp., focusing on income and growth investment solutions [7].

Core Insights - Demand for equity income strategies remains strong among advisors and investors, serving as a vital component for portfolio diversification and risk management [1] - Covered call ETFs are viewed as a potential source of equity income, but they often lack transparency regarding the call option strategies employed by fund managers [2] - Autocallable income ETFs, such as the Calamos Nasdaq Autocallable Income ETF (CAIQ), provide a clearer understanding of their income-generating strategies compared to traditional covered call ETFs [3] Fund Overview - CAIQ utilizes a laddered portfolio of autocallable yield notes, focusing on delivering equity income [4] - The fund's autocallable yield notes are based on the MerQube Nasdaq-100 Vol Advantage Autocallable Index, with a barrier level of -30% and a 70% coupon barrier [5] - Monthly income is generated as long as the MerQube index remains above the -30% threshold; if it falls below, income payments cease until recovery [6] Performance and Fees - As of January 13, 2026, CAIQ has a weighted average coupon of 17.86% and a relatively low fee of 0.74% for each ETF [7] - Another fund in the Calamos lineup, the Calamos Autocallable Income ETF (CAIE), has surpassed $500 million in assets under management and focuses on the S&P 500 [8] Investment Appeal - Both CAIQ and CAIE offer transparent income generation and risk-managed principal, making them attractive options for investors navigating market volatility [9]

本报讯(记者袁传玺)天眼查工商信息显示，近日，成都市简阳交子满园未来产业发展基金合伙企业(有限 合伙)成立，执行事务合伙人为成都交子产业基金管理有限公司、四川简州空港雄州资本投资有限公 司，出资额10亿元，经营范围为以私募基金从事股权投资、投资管理、资产管理等活动。合伙人信息显 示，该基金由成都交子产业基金管理有限公司、四川简州空港雄州资本投资有限公司、成都交子资本管 理(集团)有限公司共同出资。 ...

本报讯(记者袁传玺)天眼查工商信息显示，近日，西安西高投益慧投资基金合伙企业(有限合伙)成立， 执行事务合伙人为西安高新技术产业风险投资有限责任公司，出资额约3亿元，经营范围为私募股权投 资基金管理、创业投资基金管理服务，以私募基金从事股权投资、投资管理、资产管理等活动。合伙人 信息显示，该基金由西安奕材、西安市创新投资基金合伙企业(有限合伙)、西安市高新区合创未来投资 合伙企业(有限合伙)、西安高新技术产业风险投资有限责任公司共同出资。 ...

Core Viewpoint - The lawsuit against Nomura by Elara Capital's Oyster Bay Fund highlights the ongoing fallout from Hindenburg's report on Adani, which accused the conglomerate of stock manipulation and fraud, leading to significant financial losses and regulatory scrutiny [1][3][12]. Group 1: Lawsuit Details - Elara Capital's Oyster Bay Fund claims that Nomura demanded $205 million in cash to cover debts and breached a repayment plan by selling Adani shares pledged as collateral, resulting in a loss of $43 million [2][10]. - Nomura has denied any wrongdoing and plans to vigorously defend against the claims made by the Elara fund [10][12]. Group 2: Impact of Hindenburg's Report - Hindenburg's report led to a loss of over $150 billion in market value for Adani Group's publicly traded entities and triggered regulatory investigations, including one involving Elara [3][11]. - The report alleged that two of Elara's funds had invested almost exclusively in Adani shares, raising suspicions of being fronts for Adani himself, with one fund investing about $3 billion, nearly 99% of its market value [11][12]. Group 3: Nomura's Risk Management - Following the Hindenburg report, senior bankers at Nomura expressed concerns about the volatility of the portfolio and sought to reduce loan sizes to mitigate risk [2][7]. - Nomura had facilitated significant exposure for Elara to Adani companies through total return swaps, which allow investors to speculate on stock performance without owning the shares [8][12]. Group 4: Regulatory Scrutiny - The Securities and Exchange Board of India (SEBI) has requested explanations from Elara regarding potential violations of disclosure norms, although evidence for fraud claims against Adani was deemed insufficient [12][16]. - Elara Capital, regulated by the UK Financial Conduct Authority, had approximately £98 million ($132 million) in shareholders' funds as of March 2025 [14][16].

Core Insights - MSC Income Fund, Inc. announced strong preliminary operating results for the fourth quarter of 2025, highlighting a significant increase in net asset value per share and a return on equity exceeding 16% for the quarter [2][5]. Preliminary Operating Results - The estimated net investment income (NII) for the fourth quarter of 2025 is projected to be between $0.26 and $0.30 per share, with an adjusted net investment income (ANII) estimated between $0.32 and $0.36 per share [3][21]. - The estimated net asset value (NAV) per share as of December 31, 2025, is between $15.81 and $15.89, reflecting an increase of $0.27 to $0.35 per share, or 1.8% to 2.3% from the previous quarter [4]. Investment Portfolio Activity - The Fund's fourth quarter included $100.9 million in total private loan portfolio investments, resulting in a net increase of $57.1 million in the total cost basis of the private loan investment portfolio [7]. - Additionally, there were $23.0 million in total lower middle market (LMM) portfolio follow-on investments, leading to a net increase of $14.9 million in the total cost basis of the LMM investment portfolio [8]. Federal Tax Treatment of Dividends - MSC Income's total dividends for 2025 were $1.44 per share, with approximately 81% taxed as ordinary income, 18% as qualified dividends, and 1% as long-term capital gains [9]. - For non-U.S. shareholders, approximately 64% of the dividends relate to "interest-related" dividends, short-term capital gains, and long-term capital gains, which are exempt from U.S. withholding tax [10]. Upcoming Earnings Release - The Fund will release its fourth quarter and full year 2025 results on February 26, 2026, with a conference call scheduled for February 27, 2026, at 11:00 a.m. Eastern time [12].

Group 1 - The establishment of Xi'an Xigao Investment Yihui Investment Fund Partnership (Limited Partnership) has been announced, with a total investment amount of approximately 300 million RMB [1] - The fund is managed by Xi'an High-tech Industry Venture Capital Co., Ltd., focusing on private equity investment fund management and venture capital fund management services [1] - Partners in the fund include Xi'an Yicai, Xi'an Innovation Investment Fund Partnership (Limited Partnership), Xi'an High-tech Zone Co-creation Future Investment Partnership (Limited Partnership), and Xi'an High-tech Industry Venture Capital Co., Ltd. [1]

天眼查工商信息显示，近日，西安西高投益慧投资基金合伙企业(有限合伙)成立，执行事务合伙人为西 安高新技术产业风险投资有限责任公司，出资额约3亿人民币，经营范围为私募股权投资基金管理、创 业投资基金管理服务，以私募基金从事股权投资、投资管理、资产管理等活动。合伙人信息显示，该基 金由西安奕材(688783)、西安市创新投资基金合伙企业(有限合伙)、西安市高新区合创未来投资合伙企 业(有限合伙)、西安高新技术产业风险投资有限责任公司共同出资。 ...

First Trust Managed Futures Strategy Fund (FMF US) – Portfolio Construction MethodologyThe investment process governing the actively managed First Trust Managed Futures Strategy Fund seeks positive returns uncorrelated to broad equity or bond markets by taking long and short positions across exchange-listed futures spanning equity indexes, rates, currencies and, via a wholly owned Cayman subsidiary (≤25% of assets), commodities. Positioning is driven by a mix of qualitative and quantitative signals indicati ...

First Trust Senior Loan Fund (FTSL US) – Portfolio Construction MethodologyThe investment framework shaping the actively managed First Trust Senior Loan Fund governs a leveraged-finance credit strategy investing primarily in first-lien senior floating-rate bank loans made predominantly to North American issuers. Under normal conditions, ≥80% of net assets (including investment borrowings) are in senior loans; up to 20% may be in other debt, warrants, equities and investment companies, with flexibility to ho ...