What are interval funds?

Today’s investors may be looking for ways to diversify their portfolio and enhance returns, while also having periodic liquidity and transparency. Interval funds are a type of investment vehicle that may offer these benefits and more.

Interval funds are closed-end funds that invest in less liquid and alternative assets, such as private and public equity and credit. These assets can potentially offer higher risk-adjusted returns, higher income, and diversification benefits for your portfolio.

Interval funds also have many shareholder-friendly features, such as SEC oversight, periodic liquidity, and simplified tax reporting.

Unlike traditional mutual funds, interval funds do not provide daily liquidity. Instead, they offer to repurchase a limited percentage of shares at periodic intervals,1 usually quarterly, at net asset value (NAV). This allows interval funds to invest in less liquid strategies without facing redemption pressures.

Interval funds are also different from private funds, which may have substantial minimum investment requirements, a multi-year lock-ups, and limited transparency.

        

Find more about interval funds, how they work, and how they compare to other investment vehicles.

     

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Access Institutional-Quality Private Markets2

Bow River Capital Evergreen Fund3

Aims to generate long-term capital appreciation through broad exposure to private equity investments.

1. Although the Fund will offer to repurchase shares there is no guarantee that shareholders will be able to sell all of their tendered shares during a quarterly repurchase offer.

The Bow River Evergreen Fund is distributed by Foreside Financial Services.  Foreside, Bow River and NY Life are not affiliated.

2. Institutional quality private equity refers to a portfolio of investment exposures that are typically only available to institutional investors as well as one that provides broad exposure by vintage year, sector, geography and sponsor.

3. Bow River Capital Evergreen Fund is speculative and involves a substantial degree of risk. The Fund is a closed-end, non-diversified management investment company that will make periodic repurchase offers for its securities and is highly illiquid.  Other risks include those related to equity securities, high-yield/high risk bonds, listed private equity, listed infrastructure securities, foreign securities, derivative instruments, leverage, capital calls, investment manager risk, as well as those related to general economic and market conditions, all of which may present significant risks. Please see the prospectus for more information on these and other risks.

NYLIM provides distribution and marketing support to the Fund.

This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy. The information provided does not consider the specific objectives or circumstances of any particular investor or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her financial professional.

New York Life Investment Management LLC (“NYLIM”) is an indirect wholly owned subsidiary of New York Life Insurance Company (“New York Life”) and a wholly owned subsidiary of New York Life Investment Management Holdings LLC.

Neither New York Life Insurance Company nor its subsidiaries or employees provide tax or legal advice. Investors should consult their professional advisor for tax or legal advice.