With a whole slew of credit interval funds hitting the market this year, its time to compare the basic structures and fee arrangements. The chart below consists of funds that have been declared effective within the past year, all from familiar sponsors. Within the broader category of credit, there are a lot of substrategies, but its no coincidence, that all of the Sponsors for these funds have marketed BDCs to retail investors in the past.
Interval funds typically operate as a fund of funds, offering investors exposure to a diversified portfolio of alternative investments through one vehicle. Many major alternative investment managers, REIT and BDC sponsors have registered interval funds in recent months. A variety of regulatory and market pressures are driving the growth of interval funds, but lack of data makes it difficult for investors to evaluate choices. The purpose of Interval Fund Tracker is to increase transparency of the interval fund universe.