Unlisted Closed-End Funds:
Growth Persists Despite Pandemic

The unlisted closed-end structure allows manufacturers to manage the liquidity challenges of alternatives and illiquid securities and access the mass affluent market. UMB's report provides a market update, as well as insights into top investment categories, strategies, pricing and top asset managers as momentum in this emerging market continues to accelerate.

Historically, alternative strategies and asset classes have been exclusively available to institutions and high-net-worth investors. Since traditional mass affluent structures—open-end mutual funds and ETFs—have liquidity requirements, they are not ideal packages for alternatives and illiquid asset classes. However, the unlisted closed-end structure – primarily interval and tender-offer funds – allows manufacturers to manage the liquidity challenges of alternatives and illiquid securities and access the mass affluent market.

Our 2021 report provides a market update as of the second quarter, as well as insights into top investment categories, strategies, pricing and top asset managers.

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Joseph Eyre 
SVP/Business Banking

801-597-6072

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We’ve planted our roots deep with a team of experienced Utah bankers who have spent their entire careers in the area. Meet the team who is committed to partnering with you and your business.

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Brady Kay 
VP/Business Banking

801-360-5485

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Bryson Reschke
VP/Business Banking 

801-205-8866

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Dennis Singleton 
VP/Business Banking 

435-731-7703

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UMB Fund Services is a leader in unlisted closed-end fund servicing, offering a unique servicing technology and a start-up platform both designed specifically for unlisted CEFs. We offer a broad array of services for mutual funds and alternative investments, including turnkey solutions, to help clients bring new products to market and position themselves for future growth.

At UMB, we excel at adapting in an ever-changing market environment. This agility positions our operation to meet client needs now and in the future.

Industry leading expertise and experience in closed-end fund structures

Business insights

As a true financial partner, we offer a suite of right-sized business lending options, so you can access the funds you need to expand, upgrade and manage your day-to-day operating needs. We can help you strategically manage your everyday cash flow through deposit and treasury solutions, so you can stay focused on the future. 

  • Business loans and line of credit 

  • Credit cards and purchasing programs 

  • Alternative financing like factoring and asset based lending 

  • Checking and savings accounts for businesses 

  • Fraud management 

  • Accounts Receivables and Account Payables 

  • International services

At UMB, your business is not just a number.  Learn why we say you can count on more with UMB.

CONNECT WITH US

Derek Lamprecht
VP/Business Banking 


801-695-5766

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Steven Phillips 
VP/Business Banking 

801-920-1200

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Analysis includes:

  • Unlisted CEF Assets by asset class
  • Breakdown of AUM by Investor Type
  • Number of unlisted CEF products by asset class
  • Top product development funds by aum
  • Management fees by broad objective
  • Expense ratio by broad objective
  • Top funds and firm by AUM
  • Manager spotlight on Variant Investments
PARTNER WITH UMB

Access UMB's full report created in partnership  
with FUSE Research Network

 
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