The Destra Flaherty & Crumrine Preferred and Income Fund, distributed by Destra Capital Investments LLC, is pleased to announce its November 2022 distributions.

On October 11, 2022, Destra Multi-Alternative Fund (the “Fund” or “DMA”), a closed-end fund traded on the New York Stock Exchange under the symbol DMA, today declared a distribution of $0.0541 per share for the month of October 2022. The record date for the distribution is October 21, 2022, and the payable date is October 31, 2022. The Fund will trade ex-distribution on October 20, 2022.

On June 23, the Federal Reserve released its 2022 large-bank Dodd-Frank Act stress test results. They were mostly as expected, and all 33 banks “passed” the 2022 stress test amid the prevailing global economic uncertainty. Under the 2022 “severely adverse scenario”—which factored in unemployment peaking at 10% in 3Q23, real GDP down 6.2%, equities down.

The cliff divers at La Quebrada Cliffs in Acapulco, dive 134 feet into a narrow rocky inlet where the waves swell to a depth of only 14 feet for roughly 5 seconds. They dive when they see rocks knowing that the water will wash in during the time it takes them to descend.

We recently interviewed the portfolio team at BlueBay Asset Management for an update on the BlueBay Destra International Event-Driven Credit Fund. In this update, the team covers the market conditions in Q1 2022, the performance of the Fund, and what to expect coming up in Q2 and beyond.