Definition
Interval funds are a type of closed-end fund that periodically offers to repurchase shares from investors (typically quarterly). Unlike daily-liquid funds, they can invest in illiquid assets like private credit or real estate while providing some liquidity. Repurchase offers are typically 5-25% of shares at NAV.
Example
A private credit interval fund offers quarterly redemptions at NAV, allowing investment in illiquid loans while maintaining periodic liquidity.
FAQ
What is Interval Fund?
A fund that periodically offers to repurchase shares at set intervals.
Why is Interval Fund important?
Interval Fund helps investors evaluate fund types and make more informed decisions.