As noted in our previous article, the lifespan of a closed-end fund typically ranges from 8 to 12 years, depending on the asset class. However, to provide flexibility to deal with issues related to illiquidity of assets,...more
Investors in closed-end funds make a commitment for the duration of a fund’s life cycle — known as the fund’s term — with liquidity available only through sale of assets, secondary transactions, or fund liquidation. Investors...more