Close-ended fund
What is Close-ended fund in an Indian AIF?
A close-ended fund has a fixed tenure stated at launch, and investors cannot redeem before it ends, though the tenure may be extended with investor consent. Category I and Category II AIFs must be close-ended. The structure suits illiquid assets that need years to realise.
Authority: SEBI (Alternative Investment Funds) Regulations, 2012
Related terms
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Definitions are explanatory, not legal advice. Where a definition rests on a regulation or circular it is named above; verify against the instrument before relying on it.