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Interval Funds

Balancing long-term investments with periodic liquidity

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An Overview

In return for limited liquidity, interval funds can offer the potential for a greater return

These closed-end funds do not trade on exchanges but allow shareholders to buy shares at regular intervals and make periodic offers to repurchase shares at their net asset value (NAV).

 

This semi-liquid structure is designed to encourage long-term investing by allowing investment managers to allocate to less liquid instruments, such as loans, structured products and illiquid private debt.

Features

Interval funds have the following features and potential benefits:

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Daily valuation

NAV priced daily but not listed on an exchange

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Periodic liquidity

Investors may sell shares back to the fund at NAV periodically

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