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Interval Funds Have Turned 25 and Are Increasingly Popular  


Author:  George Zornada.; Pablo Man.; Lindsay Grossman.


Source: Volume 52, Number 04, February 15 2019 , pp.39-43(5)




Review of Securities & Commodities Regulation

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Abstract: 

Interval funds are a type of closed-end fund that, like open-end (mutual) funds, continuously offer their shares, but unlike open-end funds, offer to repurchase shares only at periodic intervals and in limited amounts. The authors discuss the growing popularity of such funds, the applicable regulatory requirements, and certain key advantages and challenges. They close by comparing interval funds with structurally similar, but more flexible, tender offer funds.

Keywords: Rule 23c-3; Interval Funds Outlook and Considerations

Affiliations:  1: K&L Gates LLP; 2: K&L Gates; 3: K&L Gates.

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