Summit Investment Research has launched research coverage of 9 real estate interval funds and 7 closed-end credit funds with research coverage of additional funds in 2017.

Interval and closed-end funds have diverse investment strategies ranging from non-investment grade credit to commercial real estate to residential mortgages. Summit’s research reports provide insights into current performance, investment risk, and cost structure of the interval fund. Our research will continue to expand with more in-depth analysis of each interval fund and market-level reporting to better monitor current and expected performance.

Investors need to understand the investment strategy and risk/return profile of interval and closed-end funds, which have reported varying results. Interval funds focused on private institutional real estate lead the way with strong stable returns. Interval funds focused on listed REITs and non-listed REITs have posted mixed results, while a private debt closed-end fund, FS Global Credit Opportunities Fund, posted double-digit losses for its 2015 fiscal year.

Current real estate interval funds covered include:

Alternative Strategies Fund

Griffin Institutional Access Real Estate Fund

Multi-Strategy Growth & Income Fund

NexPoint Real Estate Strategies Fund


Resource Real Estate Diversified Income Fund

Total Income + Real Estate Fund

Versus Capital Multi-Manager Real Estate Income Fund

Vertical Capital Income Fund

Current credit closed-end funds covered include:

FS Global Credit Opportunities Fund (Funds A, D, T, & ADV)

Palmer Square Opportunistic Income Fund

Priority Income Fund

Resource Credit Income Fund


Future coverage coming soon in 2017 include:

CION Ares Diversified Credit Fund

FS Energy Total Return Fund

NexPoint Opportunistic Credit Fund

NorthStar Corporate Income Fund (A, D, I shares) & Fund-T

NorthStar Real Estate Capital Income Fund (A, D, I shares) & Fund-T

Sierra Total Return Fund


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