Interval Funds and other Limited Liquidity Funds

Interval Funds and other Limited Liquidity Funds

This policy governs the due diligence, approval, and supervision of products that offer periodic redemption opportunities (limited liquidity)

This policy applies to two specific categories of products. Type A – Limited Liquidity Funds (Interval Funds): Registered '40 Act funds that continuously offer shares and conduct periodic offers for repurchase and Type B - Non-Traded Alternatives: Unlisted REITs, BDCs, or other funds sold via a prospectus and a subscription document, which provide liquidity through a share repurchase plan

Concentration Limits

Concentration Limit: Total household investment across all Limited Liquidity Products (Type A and B) shall not exceed 10% of the client's household AUM. Should the investment grow more than 10% and the client wish to continue holding the position the following document must signed acknowledging the risk of the higher concentration. Over-Concentration Holdings Acknowledgment

Due Diligence & Approval Process

An advisor may not solicit any non-traded Limited Liquidity Product until it has been formally reviewed and approved by the firm. A formal due diligence process must be completed. You can submit your request to initiate due diligence here Alternative Investment Due Diligence Request Form | Mutual Group

Traded limited liquidity products do not require preapproval

Advisor Knowledge

Prior to recommending any investment with limited liquidity or alternative features, advisors must conduct reasonable diligence to fully understand its structure, risks, costs, and limitations. This diligence is fundamental to meeting your Care Obligation under Regulation Best Interest and your fiduciary duty as an Investment Adviser Representative. Advisors must be able to clearly articulate how the product's specific characteristics align with the client's investment profile and objectives


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