Interval Funds

Legally, interval funds are classified as closed-end funds, but they are very different from traditional closed-end funds in that:

  • Their shares typically do not trade on the secondary market. Instead, their shares are subject to periodic repurchase offers by the fund at a price based on net asset value.
  • They are permitted to (and many interval funds do) continuously offer their shares at a priced based on the fund’s net asset value.