FYI: They had a proper birth, being conceived several months before their delivery. With 1992 being an election year, the presidential candidates were eager to demonstrate their concern for small businesses. Accordingly, the Bush administration directed the SEC to consider how registered U.S. funds could broaden their mandates, so that they could invest more in private-placement securities issued by companies that weren't large enough for the public markets.
Regards,
Ted
https://www.morningstar.com/articles/880022/do-interval-funds-have-a-future.html
