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According to TheStreet, while traditional closed-end
fund openings are decreasing recently, interval funds are on the
rise, having doubled in the last two years and representing
one-sixth of all closed-end funds. Interval fund managers can use
interval funds to pursue illiquid assets more advantageously than
regular closed-end funds, especially during economically uncertain
times. Interval funds are better protected from fire sales during a
market downturn and don't have a cap for illiquid investments.
A reason for caution with these funds, however, is the cost of the
investment and how investments are tied up quarterly. "I
expect interval funds will undergo explosive growth," says Michael Terwillger, portfolio manager of the
Resource Credit Income Fund, a closed-end interval fund. "In
my view, interval funds have a structural advantage [that] better
helps protect principal and helps to generate higher
returns."
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
