The market for unlisted closed-end funds is beginning to show signs of maturation, but this set of fund structures continues to exhibit the potential for continued growth in assets.
Historically, alternative strategies and asset classes have been exclusively available to institutions and high-net-worth investors. Since traditional mass affluent structures—open-end mutual funds and ETFs—have liquidity requirements, they are not ideal packages for alternatives and illiquid asset classes. However, the unlisted closed-end structure – primarily interval and tender-offer funds – allows manufacturers to manage the liquidity challenges of alternatives and illiquid securities and access the mass affluent market.
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The report provides a market update reflecting on data through the first half of 2022, as well as insights into top investment categories, strategies, pricing and top asset managers.
UMB Fund Services is a leader in unlisted closed-end fund servicing, offering a unique servicing technology and a start-up platform both designed specifically for unlisted CEFs. We offer a broad array of services for mutual funds and alternative investments, including turnkey solutions, to help clients bring new products to market and position themselves for future growth.
At UMB, we excel at adapting in an ever-changing market environment. This agility positions our operation to meet client needs now and in the future.