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
Fund board pay increases in 2023, MPI survey says

Independent mutual fund directors saw an increase in compensation in 2023, on average, although actual compensation levels and percentage adjustments in compensation continue to vary widely ...

10 Things
10 Ways…to improve fund board diversity

Mutual fund directors are increasingly interested in enhancing diversity on their boards. The following practical tips on improving board diversity are derived from discussions with directors, ...