XA Investments Announces Record High of Over 300 Interval/Tender Offer Funds in Q3 2025 Market Update
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 16 2025
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Should l Buy MCN?
Source: Newsfilter
Market Growth: XA Investments reports that the interval fund market has reached a milestone of 304 funds, with a total of $215 billion in net assets, driven by strong investor demand for daily valued interval funds.
Fund Accessibility: The majority of interval and tender offer funds (55%) have no suitability restrictions for investors, and there is an expectation for more funds to reduce accredited investor requirements, enhancing accessibility for a broader range of investors.
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About MCN
Madison Covered Call & Equity Strategy Fund (the Fund) is a diversified, closed-end management investment company. The Fund's primary investment objective is to provide a high level of current income and current gains, with a secondary objective of long-term capital appreciation. The Fund pursue its investment objectives by investing primarily in large and mid-capitalization common stocks. Under normal market conditions, the Fund seeks to generate current earnings from option premiums by writing (selling) covered call options on a substantial portion of its portfolio securities. The Fund invests at least 80% of its total assets in common stocks, with at least 65% of its total assets in common stocks of large capitalization issuers. The Fund may invest the remainder of its total assets in companies that meet the Fund's growth and value criteria but whose market capitalization is considered as middle-sized or mid-cap. The Fund's investment advisor is Madison Asset Management, LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Tax Information Disclosure: The fund will report the specific tax characteristics of the distributions to shareholders via Form 1099 after the end of the 2026 calendar year, ensuring shareholders are informed about the source of distributions and their potential tax implications, thereby enhancing transparency.
- Investment Strategy Overview: The fund aims to achieve a high level of current income and capital appreciation primarily by investing in common stocks and writing covered call options, a strategy that helps maintain stable income amidst market volatility.
See More
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See More
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- Substantial Asset Base: As of December 31, 2025, the 58 constituents of INTVL-C collectively hold over $79 billion in total net assets, underscoring the index's significance and impact in the alternative credit investment space.
- Enhanced Transparency: The index offers asset managers a transparent and comprehensive view of leading credit interval and tender offer funds, fostering greater investor engagement and confidence in this rapidly growing investment market.
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See More
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- Substantial Asset Base: As of December 31, 2025, the index's 58 constituents boast over $79 billion in total net assets, reflecting strong market demand and growth potential for alternative credit investments.
- Enhanced Transparency: INTVL-C offers asset managers a transparent and comprehensive view of leading credit interval funds, facilitating benchmarking and peer comparison, which enhances investor confidence and engagement.
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See More
