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1,990 funds on the SEBI registerIndustry figures to 31 March 2026Register read 27 August 2026

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

All 38 glossary terms · Fund directory · SEBI quarterly data

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.