As policymakers withdraw fiscal and monetary support, we believe market volatility will rise, presenting investment opportunities.

While some areas of credit markets appear fully valued, we see compelling opportunities in more complex, less liquid sectors, including private markets.

Interval funds may provide investors additional flexibility to access more complex and less liquid credit opportunities.

Looking across the global opportunity set, we see potential for attractive yield, though uncertainties surrounding the global recovery suggest this is a time to be cautious.

PFLEX is a diversified, flexible interval fund that seeks attractive risk-adjusted returns and current income from investments spanning the global credit opportunity set.