XA Investments Launches Interval Fund Index Providing Greater Transparency to the Marketplace

Rhea-AI Summary

XA Investments has launched the XAI Interval Fund Index (INTVL), the first-ever index tracking the interval and tender offer fund market. The total return index monitors funds registered under the Investment Company Act of 1940 with assets exceeding $100 million.

As of March 2025, the Index includes 77 constituents representing over $103 billion in total net assets, approximately 60% of the entire interval and tender offer fund market. INTVL features funds across seven asset classes: credit, real estate/real assets, hedge funds, specialty, multi-asset, tax-free bonds, and venture/private equity.

The Index, which has a January 2023 base date with two years of historical performance, is calculated daily and rebalanced quarterly. Indxx, Inc. serves as the index calculation agent. The index is available on Bloomberg under the ticker INTVL.

CHICAGO, April 09, 2025 (GLOBE NEWSWIRE) -- XA Investments LLC (“XAI”), a leader in closed-end interval and tender offer fund research, announced the launch of the new XAI Interval Fund Index (“INTVL”). A total return index, INTVL tracks interval/tender offer funds registered under the Investment Company Act of 1940, with over $100 million in net assets.

At the end of March 2025, the Index’s 77 constituents combined for more than $103 billion in total net assets, or roughly 60% of the net asset value for the entire interval and tender offer fund market. The Index has a January 2023 base date with two years of historical performance.

“The XAI Interval Fund Index will give asset managers and financial advisors an unprecedented level of clarity in a market that has been notoriously difficult to track,” stated Kim Flynn, President of XA Investments. “By applying our in-house research, proprietary data, and rigorous methodology, XA Investments has been able to create the first index tracking the interval and tender offer fund market,” Flynn added.

INTVL marks a shift in evaluating funds and continuing advancement for asset managers, financial advisors, and individual investors. The index offers market insights through daily intelligence to monitor and track the interval and tender offer fund market. Designed to act as a barometer for the interval and tender offer fund market, the XAI Interval Fund Index makes essential market insights possible.

“The introduction of the XAI Interval Fund Index is another example of XA Investment's leadership in providing the closed-end interval and tender offer marketplace with the innovative research and data needed to solidify investor interest in this burgeoning investment option,” said Philip Hasbrouck, senior managing director, Cliffwater. “The team at Cliffwater expects it will quickly find acceptance as a valuable tool by asset managers, Registered Investment Advisors (RIAs) and individual investors alike.”

INTVL has a diverse mix of interval funds with varying investment strategies across seven different asset classes including credit, real estate/real assets, hedge funds, specialty, multi-asset, tax-free bonds and venture/private equity. The Index currently has 77 constituents which includes interval and tender offer funds with a daily or weekly net asset value that meet a minimum asset threshold. The Index is calculated daily and rebalanced quarterly. Indxx, Inc. serves as the index calculation agent.

For more information on the XAI Interval Fund Index, please visit https://xainvestments.com/intvl. If you would like to license the Index, or have any questions, please contact info@xainvestments.com or 888-903-3358. The XAI Interval Fund Index is available on Bloomberg under the ticker INTVL.

About XA Investments

XA Investments LLC (“XAI”) is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund, respectively the XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT), the XAI Madison Equity Premium Income Fund (NYSE: MCN), and the Octagon XAI CLO Income Fund (OCTIX). In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including product development and market research, marketing and fund management. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. For more information, please visit www.xainvestments.com.

Media Contact:

Joanna Sowa

jsowa@xainvestments.com

312 374 6938

FAQ

What is the total asset value tracked by the XAI Interval Fund Index (INTVL) as of March 2025?

The XAI Interval Fund Index tracks over $103 billion in total net assets, representing approximately 60% of the interval and tender offer fund market.

How many constituent funds are included in the INTVL index?

The INTVL index includes 77 constituent funds that meet the minimum asset threshold of $100 million.

What asset classes does the XAI Interval Fund Index cover?

The index covers seven asset classes: credit, real estate/real assets, hedge funds, specialty, multi-asset, tax-free bonds, and venture/private equity.

How frequently is the XAI Interval Fund Index calculated and rebalanced?

The index is calculated daily and undergoes quarterly rebalancing.

When was the XAI Interval Fund Index established and what historical data does it include?

The index has a base date of January 2023 and includes two years of historical performance data.