On this episode of the Global Investment Leaders podcast, Rosemont CEO Chas Burkhart was joined by Chris Mackay, Director of Client Service & Marketing at 1607 Capital Partners, a $4 billion* Richmond-based boutique asset management firm offering equity and fixed income closed-end fund portfolios. With a bottom-up, value-oriented approach, 1607 Capital Partners trades closed-end funds and other discounted assets based on a proprietary system developed and refined over 25+ years.  Throughout their conversation, Burkhart and Mackay discuss:The definition of closed-end funds and how they have been a reliable source of excess returns in portfolios over timeThe genesis of the firm’s investment strategy and the compelling opportunity the firm’s founding partners saw in the closed-end fund nicheThe evolution of 1607’s investment process, which Mackay notes has benefited from meaningful advances while still focusing on the same core strategyThe client base at 1607—which primarily includes institutional clients such as endowments, foundations and pensions—and the long-term relationships the firm maintainsThe company’s approach to attracting and retaining talent, including the purpose behind the firm’s employee ownership and why it intends to retain its independence to ensure long-term successWhen it comes to the firm’s growth strategy, Mackay emphasizes the importance of growing thoughtfully, systematically and slowly to maintain the level of returns and client service for which the firm is known. Mackay explains that while the firm‘s technology has become increasingly sophisticated, the subject matter expertise of its investors is a differentiating factor that helps it take advantage of volatility to build portfolios of closed-end funds trading at discounts to their long-term averages. All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today. *Approximate AUM of 1607 Capital Partners at time of recording 

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