The concept behind interval funds is a higher return in exchange for non daily liquidity. While the concept appeals to clients with surplus liquidity, the regulatory oversight is poor All prospectuses I have read mislead the client and the FA to believe the investment may be redeemed on a specified date. What is never discussed is the optionality the fund has where they may limit redempyions to 5% of the fund on the redemption date.

Limiting the general public’s access to complex products while not limiting institutional access will greatly and unfairly benefit the richest citizens of this country, while hamstringing the middle class citizens who wish to generate income through complex products, and who do not have the means to go through institutions as middle-men. Americans should be free to choose where their money goes. There is no sense in restricting retail access to, for example, a leveraged index fund while infinitely more speculative investment options remain untouched.