Discussion Paper
The Rise of Semiliquid Funds for Retail Investors
Abstract: Investment funds differ in how investors can access their capital. The redemption rules governing how and when investors can withdraw have evolved endogenously in response to shifting investor demand and regulatory constraints. While the immediate liquidity of open-end mutual funds and exchange-traded funds has long dominated the retail market, the landscape has been evolving over time.
https://doi.org/10.17016/2380-7172.4114
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Provider: Board of Governors of the Federal Reserve System (U.S.)
Part of Series: FEDS Notes
Publication Date: 2026-10-14
Number: 2026-10-14