BDC sales tank in 2020 after product performs poorly
Broker-dealers sold just $362.3 million in nontraded BDCs last year, the least since 2010, which was the year after the first product was launched, according to Robert A. Stanger & Co. Inc.
Sales of nontraded business development companies — a popular, high-commission product sold by many independent broker-dealers for the past decade — hit new lows in 2020, while at the same time, the product had poor performance as COVID-19 had a negative effect on returns.
Broker-dealers sol
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