Matisse Capital's MDCEX Wins 2026 LSEG Lipper Fund Award

Recognized as Best Fund over 5 Years in Flexible Portfolio Funds Category

PORTLAND, Ore., April 6, 2026 /PRNewswire/ -- Matisse Capital, an investment management firm specializing in strategies designed to capture price-to-NAV inefficiencies in closed-end funds (CEFs), today announced that the Matisse Discounted Closed-End Fund Strategy (MDCEX) has been named a 2026 LSEG Lipper Fund Award winner for Best Fund over 5 Years in the Flexible Portfolio Funds category (out of 361 funds).

The LSEG Lipper Fund Awards, presented annually for more than three decades, recognize funds and asset managers that have delivered consistently strong, risk-adjusted performance relative to their peers.

Matisse Capital believes this recognition reflects the consistent application of a disciplined investment process by Portfolio Managers Eric Boughton, CFA, and Bryn Torkelson. The strategy focuses on identifying discounted opportunities across the closed-end fund market and converting these inefficiencies into income and total return for investors.

"We are honored to receive this recognition," said Nik Torkelson, MBA, MIMFA, Managing Partner and Chief Compliance Officer at Matisse Capital. "It underscores our team's long-standing commitment to a disciplined, repeatable investment approach and our focus on delivering differentiated outcomes for investors."

About the Award

• LSEG Lipper Fund Award: Best Fund over 5 Years
• Category: Flexible Portfolio Funds (out of 361 funds)
• Evaluation Period: Ending November 30, 2025

The LSEG Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers.

The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. For more information, see lipperfundawards.com. Although LSEG Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by LSEG Lipper.

Methodology Criteria includes: U.S. local classifications are used in the United States, rather than Lipper Global Classifications. Money Market Funds are excluded from all fund award classifications. Some funds may be excluded from award consideration if, in the opinion of LSEG Lipper's Research staff, the portfolio has undergone too many classification changes or changed classifications recently. Additionally, S&P 500 Index funds, S&P Midcap 400 Index funds, equity leverage funds, specialty diversified equity funds, specialty fixed income funds, specialty/miscellaneous funds, other states municipal deft funds, other states intermediate municipal debt funds, and other states short/intermediate municipal debt funds are not eligible to receive classification awards.

See the full list of winners at https://lipperfundawards.com/Awards/UnitedStates/2026/Fund.

About Matisse Capital

Matisse Capital is an independent investment management firm focused on delivering innovative, evidence-based strategies that aim to help investors achieve long-term success. The firm manages Matisse Funds—a suite of discounted closed-end fund strategies grounded in rigorous research, disciplined portfolio construction, and a long-term, value-oriented approach. Committed to transparency, research integrity, and consistent execution, Matisse Capital provides differentiated solutions for institutions and investors seeking exposure to inefficient market segments. As of March 31, 2026, the firm manages approximately $1.6 billion for investors nationwide.

For more information, please visit www.matissecap.com.

Disclosures

MDCEX has returned +20.73% (1-year), +18.86% (3-year annualized), +13.08% (5-year annualized), and +11.39% (10-year annualized). All figures as of March 31, 2026.

Returns longer than one year are annualized. The performance information quoted represents past performance, which is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For performance current to most recent month-end, please send a request to [email protected], or call Shareholder Services at 1-800-773-3863. The Total Annual Fund Operating Expense for the Fund as disclosed in the prospectus is 3.19% dated August 1, 2025. Total return measures net investment income and capital gain or loss from portfolio investments. All performance shown assumes reinvestment of dividends and capital gains distributions. There is no guarantee that the Fund will pay or continue to pay distributions.

Performance data for periods prior to August 1, 2024, reflects a management fee of 0.99% and an expense limit of 1.25% for MDCEX.

An investment in the Fund is subject to investment risks, including the possible loss of some or all of the principal amount invested. There can be no assurance that the Fund will be successful in meeting its investment objective. Generally, the Fund will be subject to the following additional risks: Closed-End Fund Risk, Control of Closed-End Funds Risk, Cybersecurity Risk, Equity Securities Risk, Fixed Income Securities Risk, Foreign Securities Risk, Fund of Funds Risk, General Investment Risks, Investment Risk, Investment Advisor Risk, Leverage Risk, Loans Risk, Management Style Risk, Market Risk, Money Market Mutual Fund Risk, and Quantitative Model Risk. More information about these risks and other risks can be found in the Funds' prospectus.

The Matisse Funds are distributed by Capital Investment Group, Inc., Member FINRA/SIPC, 100 E. Six Forks Road, Suite 200, Raleigh, North Carolina 27609. There is no affiliation between Matisse Capital, including their principals, and Capital Investment Group, Inc. Serial #RCMAT0426001.

An investor should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. A copy of the prospectus is available at www.ncfunds.com or by calling Shareholder Services at 1-800-773-3863. The prospectus should be read carefully before investing. Current and future holdings are subject to change and risk.

SOURCE Matisse Capital