All interval funds must be governed by a fund board of directors. Like a corporate board of directors, the board of an interval fund registered under the Investment Company Act of 1940 (the “1940 Act”) has a fiduciary duty to represent the interests of the fund’s shareholders. The operations of the fund, however, are clearly different than those of a corporation.
GL Beyond Income Fund(GLBFX) was an interval fund that launched in 2012. It had a relatively unique credit strategy, focused on high yield consumer loans, made to young doctors, dentists, veterinarians, and lawyers. Performance was decent for for the first year and half, but then the fund’s management led investors to disaster. What happened to […]
Sponsored Content by Ultimus Fund Solutions Over the past five years, the interval fund market has experienced explosive growth, as the structure has attracted both managers and investors by expanding access to illiquid alternative investments in a registered fund structure. While many managers are eager to launch an interval fund, the process can be more […]
Interval fund net assets have grown to over $40 billion, up over 29% from a year ago. Fifteen interval funds have filed initial registration statements so far in 2021, including a record ten new registrations in the second quarter alone. The most popular asset classes based on net assets include credit, publicly traded equity, and […]
5 Reasons to Convert from a Private Fund to a ’40 Act Interval or Tender Offer Fund Today In case you haven’t heard, the retail alternatives space is growing – faster than the hedge fund market, faster than the mutual fund market, faster than just about any other asset class. In fact, according to Cerulli’s […]