2016 Closed-End Fund Conference
November 3, 2016
New York

Program

8:00 a.m.–4:15 p.m. 

Registration

8:00–9:00 a.m. 

Networking Breakfast

9:10–9:15 a.m. 

Welcome

9:15–10:00 a.m. 

One–on–One Session

Marc Wyatt Director of the Office of Compliance Inspections and Examinations SEC

Bill Renahan, chair of ICI’s Closed-End Investment Company Committee and senior counsel at Virtus Investment Partners, Inc., will engage in a lively question-and-answer session with Marc Wyatt.

10:00–10:20 a.m. 

Networking Break

10:20–11:20 a.m. 

Weathering the Regulatory Storm: A Discussion of Recent Closed-End Fund Compliance and Regulatory Developments

In the last year, the closed-end fund industry has witnessed several Securities and Exchange Commission rulemakings, the adoption of a new Department of Labor fiduciary rule, and other regulatory actions that could have significant impact on the industry. This panel will discuss new legal and compliance developments that will affect closed-end funds, with an eye toward providing industry participants with practical guidance on adapting to these changes.

Rose F. DiMartino, Moderator
Partner
Willkie Farr & Gallagher LLP

Jon W. Breyfogle
Principal
Groom Law Group

Lawrence R. Hamilton
Partner
Mayer Brown LLP

David Marcinkus
Branch Chief, Chief Counsel Counsel’s Office
US Securities and Exchange Commission

David Wohl
Partner
Weil, Gotshal & Manges LLP

11:25 a.m.–12:25 p.m. 

Closed-End Fund Product Development: Evolving or Decaying?

Over the last 30 years, closed-end funds have expanded from products producing steady streams of income to include products seeking total return. This panel will explore product changes, discuss new product trends, and debate why there has been a decline in closed-end fund initial public offerings. This panel will attempt to answer what may be necessary for closed-end funds to survive and prosper as an investment option in today’s modern portfolio. 

Douglas R. Bond, Moderator
Executive Vice President
Cohen & Steers

Robert Bush
Senior Vice President, Director of Closed End Fund Products 
Calamos Investments

Jonathan Diorio
Managing Director
BlackRock

Steven Lofchie
Partner
Cadwalader, Wickersham & Taft LLP

Anthony N. Maltese
Senior Vice President
Neuberger Berman

12:30–1:35 p.m. 

Luncheon with Speaker

David Gregory spent nearly 20 years at NBC News, serving as moderator of Meet the Press, White House correspondent, political analyst, and anchor of the network’s major programs. He now is a political analyst on CNN and the host of a podcast featuring interviews with top newsmakers and thought leaders.

1:40–2:40 p.m. 

Facing Shareholder Activism: New (and Old) Tools to Address Discounts

Activist shareholders have once again become a significant concern for many closed-end funds. Are there new ways to reduce discounts? This panel will evaluate different strategies funds recently have taken to address activist concerns and to reduce persistent discounts.

Christopher M. Hayden, Moderator
Senior Managing Director
Georgeson, LLC

Rajib Chanda
Partner
Simpson Thacher & Bartlett LLP

Cecilia L. Gondor
Independent Director
The Herzfeld Caribbean Basin Fund, Inc.

Earl D. Weiner
Of Counsel
Sullivan & Cromwell LLP

2:40–3:00 p.m. 

Networking Break

3:00–4:00 p.m. 

How to Communicate the Value of Closed-End Funds: Educating and Marketing to Investors

Do closed-end fund investors and their advisers understand the value of the closed-end fund structure? Why have closed-end fund assets under management declined in recent years? This panel will discuss various approaches to better educating financial intermediaries, the press, and others about the benefits of investing in closed-end funds and enhancing industry exposure in a changing marketplace.

Renee Baker, Moderator
Senior Manager, Closed-End Funds and Investor Relations
Aberdeen Asset Management

Doug Albo
Principal
Capital Income Management, LLC

Anne Kritzmire
Managing Director, Closed-End Funds
Nuveen

James Robinson
Founder, CEO, and CIO
Robinson Capital Management

David C. Sullivan
Partner
Ropes & Gray LLP