InvestmentTrends in Infrastructure Investing Today
These closed-end funds do not trade on exchanges but allow shareholders to buy shares at regular intervals and make periodic offers to repurchase shares at their net asset value (NAV) at the discretion of the fund's Board.
This semi-liquid structure is designed to encourage long-term investing by allowing investment managers to allocate to less liquid assets.
Tender offer funds have the following features and potential benefits:
Investors may sell shares back to the fund at NAV through discretionary repurchases
Regular regulatory filings provide details on portfolio holdings
Simplified tax reporting2
Shareholder distributions reported annually on Form 1099
1Periodic liquidity is not guaranteed.
2This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. Please consult your attorney for legal advice, or your accountant for tax advice.