Publications

Corporate Partner Rajib Chanda co-authored an article, “Choosing Open End vs. Closed End: When Should Boards Get Involved, and What Do They Need to Consider?” published in Fund Directions’ September 2016 issue. The article was written after recent statements from key SEC personnel raised the question of what role, if any, fund boards should play in determining whether a new fund should be structured as an open- or closed-end fund. The question was raised after an open-end fund that focused on high-yield debt investments was forced to freeze shareholder redemptions and un-wind its operations due to lack of liquidity. In the article, they list several potential areas on which a board might focus if an adviser proposes that a liquid alternative fund be structured as an open-end fund.

This article was first published in Fund Directions, an industry newsletter for mutual fund directors (published in September 2016). To read the full article please click here (subscription required).