Jerry Raio, president and chief executive officer at Arbor Lane Advisors in New York -- a firm that helps money-management companies develop new investment products -- says that changes making closed-end fund initial public offerings more attractive have combined with favorable market conditions leading 2019 to be the most prolific time for IPOs that the industry has seen in years. Raio says the trend looks likely continue into the new year with a wide range of new, different and unique new types of offerings helping to fuel growth.