In the Margins

BDC halts redemptions

April 12, 2016

By The Wall Street Journal

Business Development Corporation of America, a $2.5 billion fund, said in a securities filing last month that it is halting redemptions for the quarter after the fund’s pre-established limit was hit. Non-traded business development companies, or BDCs, typically only allow investors to cash out every three months; this appears to be the first time one has bumped up against internal restrictions that limit the amount of shares a fund is able to redeem at one time. Read the original story from The Wall Street Journal.

 

 

Most Read

Top of the Agenda - Compensation
IDC: Fund director pay climbs again in 2024

Mutual fund independent directors earned more in 2024 than in the year prior, and the pace at which their compensation grew was also higher year-on-year, according ...