ACA Publishes Article, White Paper on Basics of Interval and Tender Offer Funds

In a recent article and associated white paper, ACA touches on key topics regarding the increasing number of interval and tender offer funds coming to market. The paper breaks down the basics of these closed-end fund products including how shares are offered, conditions for repurchase, types of investments allowed, liquidity restrictions, and other regulatory concerns. The paper also includes a section about the distribution including the type of investor each product is marketed to. It also discusses why asset managers may want to create a product of this type, such as access to a new investor base and avoiding the daily liquidity needed with an open-end fund.

Click here to read the ACA article and download the white paper covering tender offer and interval funds.