BlackRock Inc. investment advisers will place as much as $1 billion in LendingClub Corp.’s marketplace programs through next year under a deal struck between the two companies https://t.co/0erzbhkKPs ...

The UK’s FCA fined Neil Woodford, the once-renowned investment manager, and his fund empire a total of £46 million over shortcomings in the lead up to the fund’s collapse https://t.co/0q3JJLsLSy ...

Financial Performance - Net investment income increased to $2.5 million, or $0.83 per share, driven by incentive fee reversal[9] - Total expenses were a benefit of $864,000, reflecting a $1.5 million capital gains incentive fee reversal[9] - Total investment income decreased by 25% due to repayments exceeding originations[9, 32] - Adjusted expenses decreased 38% to $626,000 in Q2 2025, excluding the capital gains incentive fee benefit[32] - Net Asset Value (NAV) decreased from $65.3 million to $56.7 million[35] Portfolio Composition and Activity - The fair value of the investment in Tilson Technologies decreased by $9.5 million due to bankruptcy filing[20] - Portfolio mix at quarter-end: 86% fixed-rate debt investments and 14% equity investments in private companies[17] - Annualized weighted average yield of debt investments was 12.2% at June 30, 2025[17] - Total investments at fair value of $52.4 million[24] Liquidity and Dividends - Ended the quarter with approximately $25 million in liquidity and no debt[9] - Maintained quarterly dividend at $0.29 per share[38] - $20.2 million available credit capacity[38]

Core Insights - Grayscale Investments is expanding its management team and Board of Directors to support its growth in the digital asset space [1][2] - The company now manages over $35 billion in assets across more than three dozen products, including Bitcoin and Ethereum ETFs [4][5] Management Team Expansion - New appointments include Diana Zhang as COO, Ramona Boston as CMO, Andrea Williams as CCO, and Maxwell Rosenthal as CHRO, all reporting to CEO Peter Mintzberg [2][3] - The management team brings extensive experience from respected financial institutions, enhancing Grayscale's operational integrity and innovative investment strategies [3] Board of Directors Changes - Barry Silbert returns as Board Chairman, succeeding Mark Shifke, who remains on the Board [2][4] - The Board expansion reflects Grayscale's evolution into a scaled platform, with plans to include independent directors [2][4] Strategic Vision - Silbert emphasizes the importance of operational infrastructure and long-term positioning in the digital asset ecosystem [5] - Grayscale aims to transform disruptive technologies into investment opportunities, having pioneered the first publicly traded Bitcoin and Ethereum investment vehicles [5][7]

Core Insights - Infrastructure Capital Advisors is a prominent provider of investment management solutions aimed at income-focused investors [1] - Jay Hatfield serves as CEO and CIO, leading the investment team and managing multiple ETFs and private accounts [1] - The company is frequently featured in major financial media outlets, enhancing its visibility and credibility in the investment community [1] Company Overview - Infrastructure Capital manages a range of investment products including the InfraCap Small Cap Income ETF (NYSE: SCAP), InfraCap Equity Income Fund ETF (NYSE: ICAP), InfraCap MLP ETF (NYSE: AMZA), Virtus InfraCap U.S. Preferred Stock ETF (NYSE: PFFA), and InfraCap REIT Preferred ETF (NYSE: PFFR) [1] - The firm publishes a monthly market and economic report, quarterly commentaries, and various research materials to support investors [1] - Infrastructure Capital also engages in educational initiatives through monthly webinars and participation in industry conferences [1]

Core Viewpoint - Thornburg Income Builder Opportunities Trust announced a monthly distribution of $0.10417 per share, payable on August 20, 2025, with a record date of August 11, 2025, indicating stability in its distribution policy [1][2]. Distribution Details - The current monthly distribution of $0.10417 per share remains unchanged from the previous declaration [1]. - The cumulative distributions for the fiscal year to date (FYTD) amount to $1.14587 per share, with net investment income contributing $0.94248 (82%) and net realized short-term capital gains contributing $0.13800 (12%) [2]. - The Trust's distribution includes a short-term capital gain and does not include a return of capital or long-term capital gain [1][2]. Investment Objective - The Trust aims to provide current income and additional total return by investing at least 80% of its managed assets in a diverse range of income-producing securities, including both equity and debt securities globally [3]. Tax Considerations - As a registered investment company, the Trust is subject to a 4% excise tax if it fails to distribute at least 98% of its ordinary income and 98.2% of its capital gains by the end of the calendar year [4]. - The specific tax characteristics of distributions will be reported to shareholders on Form 1099 after the end of the 2025 calendar year [1]. Company Overview - Thornburg Investment Management manages $49 billion in client assets as of June 30, 2025, and offers a variety of investment products including mutual funds, ETFs, and closed-end funds [6].

Market Overview & Investment Strategy - Exponence, a multi-strategy investment firm, manages $22 billion in assets across equity, fixed income, and alternative investment strategies [1] - The firm believes the world is undergoing a regime change to a multipolar world, impacting long-term investment implications [5][6] - Exponence emphasizes understanding geopolitical constraints versus preferences when making investment decisions [19][20] - The firm leans towards a value-oriented investment approach, balancing fundamentals with environmental changes [21] Equity Market & AI - The market's earnings expectations for hyperscale AI companies are viewed with skepticism over the next one to two years [8][9] - It remains to be seen whether AI's productivity benefits will translate into sustained earnings for individual companies [9] International Markets - Europe is seen as an interesting market for the balance of the year due to fiscal space, reduced intracontinental barriers, and favorable regulatory environment [10][11] - The firm is bullish on European private equity and domestically focused sectors like telecommunications [12] Private Markets & Alternative Investments - Private markets are primarily an institutional play, with tailwinds for European small-cap and private markets [13] - Including private markets in long-dated target date or target risk portfolios for retail investors (through 401ks) is acceptable with appropriate guard rails [15]

Core Insights - The Calamos Autocallable Income ETF (Ticker: CAIE) has announced its first distribution of 17.48% annualized, achieving its goal of providing high, stable monthly income since its launch on June 25, 2025 [1][5] - The fund aims to democratize access to institutional-quality autocallable strategies, which constitute nearly 70% of all structured note sales, by offering them in a liquid and transparent ETF format [2][5] Distribution Details - The inaugural distribution amount is $0.38592 per share, with the ex-dividend date on August 1, 2025, marking the start of a regular monthly distribution schedule [4][5] - Future distribution dates are set for August 29, September 30, October 31, and December 22, 2025, with amounts to be determined for subsequent distributions [4] Fund Strategy and Management - The fund's strategy involves a laddered portfolio of over 52 autocallables, staggered weekly, which provides transparency, daily liquidity, and tax-efficient distributions [2][4] - J.P. Morgan serves as the primary swap counterparty, while MerQube Indices provides the underlying autocallable index methodology [3][4] Market Position and Performance - The strong initial performance of CAIE validates the approach of bringing sophisticated autocallable strategies to the ETF market, previously accessible only to ultra-high-net-worth investors and institutions [5] - The fund's expense ratio is set at 0.74%, and it is listed on the NYSE Arca [4]

Core Viewpoint - Stellus Capital Investment Corporation is set to release its financial results for the second quarter of 2025 on August 6, 2025, after market close [1] - A conference call to discuss these results will be held on August 7, 2025, at 10:00 AM Central Time, led by the CEO and CFO [2] Financial Results Announcement - The financial results for the second quarter ended June 30, 2025, will be disclosed on August 6, 2025 [1] - The conference call for discussing the results will take place on August 7, 2025 [2] Conference Call Details - The conference call can be accessed via phone by dialing 877-545-0523 with passcode 398771 [3] - A replay of the call will be available starting approximately two hours after the conclusion and can be accessed until August 7, 2026 [3] - The call will also be available via live webcast on the company's website [3] Company Overview - Stellus Capital Investment Corporation is an externally-managed, closed-end, non-diversified investment management company regulated as a business development company under the Investment Company Act of 1940 [4] - The company's investment objective is to maximize total return to stockholders through current income and capital appreciation by investing primarily in private middle-market companies [4] - The investment strategy includes first lien, second lien, unitranche, and mezzanine debt financing, along with corresponding equity investments [4]

Group 1 - The Neuberger Berman Real Estate Securities Income Fund Inc. has declared a distribution of $0.0312 per share of common stock, payable on August 29, 2025, with a record and ex-date of August 15, 2025 [1] - The Fund anticipates making regular monthly distributions of $0.0312 per share, subject to market conditions, but there is no guarantee of maintaining this distribution rate [2][3] - Future distributions may consist of net investment income, net realized capital gains, and return of capital, with a notice provided for any distribution not solely consisting of net investment income [3] Group 2 - Neuberger Berman is an employee-owned, independent investment manager founded in 1939, managing $538 billion across various asset classes for global institutions and individuals [4] - The firm emphasizes active management, fundamental research, and engaged ownership, and has been recognized as one of the best places to work in money management for eleven consecutive years [4]