Destra Capital Advisors has acquired the fund formerly known as Multi-Strategy Growth & Income Fund in a fund adoption approved by both the fund’s board and its shareholders by proxy completed in late November. The fund’s new name is the Destra Multi-Alternative Fund, effective immediately. The fund will retain its current managers, Pinhook Capital, now in a sub-advisory role.
The fund is one of the oldest and most tenured closed-end interval funds in the market. It has a mandate to invest for total return with an emphasis on current income. The team at Pinhook Capital managed the fund through its multi-alternative strategy and will continue to manage the portfolio as the sub-adviser to the fund.
The fund is a continuously offered, non-diversified, closed-end interval fund that has an investment objective to seek returns from capital appreciation and income with an emphasis on income generation. The fund pays income monthly and quarterly redemption offers of no less than 5 percent of shares outstanding. The fund seeks to achieve long-term performance not correlated to the broad stock and bond markets. It invests primarily in real estate investment trusts, debt and equity income securities, and alternative investment funds.