Closed-End Interval Fund and Tender-Offer Fund Services

Industry leading expertise and experience in closed-end fund structures

With a closed-end interval fund or tender-offer fund, investment advisors can offer a retail vehicle with limited liquidity.

Niche experience, service and support

We’ve been servicing interval funds and their complexities for more than 20 years. You will benefit from our team’s technical experience, our state-of-the-art systems and our commitment to outstanding client service.

Completely integrated back-office support

We handle the behind-the-scenes functions servicing to support your closed-end fund, from fund accounting and administration, to transfer agency and tax reporting, so you can focus on growing assets.

Innovative platform solution

For managers seeking a streamlined experience, we deliver a turnkey solution to support the launch and servicing of your registered closed-end interval fund or tender-offer fund.

Access specialized support for closed-end interval funds and tender-offer funds with UMB. Connect with our closed-end interval fund experts today.

Strengthening liquidity with committed reverse repurchase lending facility

Managing liquidity is an important aspect of managing an investment fund. Many investment managers rely on traditional lines of credit to ensure readily available cash for shareholder redemptions or fund distributions. Those who expect heightened volatility—whether from geopolitical or economic...

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Market opportunity and outlook for interval and tender-offer funds

Contrary to expectations of a decline, interest in closed-end funds (CEFs) remained strong in 2024, according to new research from UMB Fund Services in partnership with FUSE Research Network: Unlisted Closed-End Funds: Proven Concepts Ready for Next-Generation Investors and Product...

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Understanding fund custody: Private versus publicly offered fund vehicles

When managers of private funds decide to launch a strategy as a registered mutual fund–such as an interval fund, tender fund, or a daily NAV fund— the topic of custody can sometimes lead to confusion. Private fund managers are typically...

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Launching a private fund with plans to convert to a registered fund

Launching a private fund is a fairly streamlined process compared to launching a registered fund, in part because there’s no need to wait for the Securities Exchange Commission (SEC) to complete its review and for its approval to become effective...

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Using tax blockers with interval and tender-offer funds

In the context of interval and tender-offer funds, tax blockers are tax-paying corporate entities used to transform “bad income” into “good income.” Interval and tender-offer funds are particularly attractive for investments in asset classes such as real estate, private equity...

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Unlisted Closed-End Funds: Proven Concepts Ready for Next-Generation Investors and Product Trailblazers

Unlisted closed-end funds continue to establish a market presence as more strategies launch and adoption grows among advisors. In this report, we explore how a 100-year-old investment vehicle has flourished since 2014. Given their unique impact and value as investment vehicles and portfolio construction options for all levels of investors, it’s no wonder that what’s old is new (and now proven) yet again.

Access report

Whether you leverage your existing board or our turnkey offering, UMB offers a comprehensive service set of funds, plus the deep knowledge and experience to guide and support your closed-end interval or tender-offer funds.

Fund accounting and administration

Investor tax and fund tax

Transfer agency and investor servicing

Custody*

Innovative platform solution for managing closed-end interval funds and tender-offer funds

Closed-end funds are unique investment vehicles. They can be complex to administer and manage. To deliver the specialized expertise you need, we offer a closed-end fund servicing platform: Registered Fund Solutions.

Registered Fund Solutions provides the full spectrum of professional services to launch and service a closed-end fund such as an interval fund or tender-offer fund.

Platform benefits

UMB’s closed-end fund servicing platform eliminates the difficulty of selecting service providers – independent board of directors, fund auditors, legal counsel and other providers are already in place.
Lowers overhead due to sharing service providers; lower insurance premiums through shared policy.
Provides assistance in establishing and overseeing board of directors, facilitating meetings and managing service providers.

UMB Fund Services and its affiliates provide overall sponsorship, coordination and program management, fund accounting, administration, transfer agent, fund registration, Blue Sky, tax reporting and custody services*. Participating professional partners provide fund registration and legal counsel, CCO and compliance consulting services and audit services.

Best Interval Fund Administrator

2019-2023 Fund Intelligence Operations and Services Awards

Customer testimonial

We chose UMB Fund Services based on their breadth of offerings, their knowledgeable teams and their competitive pricing. They have exceeded our expectations each step of the way – providing guidance, answering questions, and ensuring a successful launch of what is now $1bn+ fund. We are grateful for their expertise and responsiveness to our many questions and requests. Given our client base and the many nuanced operational requirements for this fund, we believe UMB was unique in its ability to accommodate our bespoke requirements and meet our time constraints.

— Chief Operating Officer Boutique Wealth Management Firm

UMBFS was an invaluable partner when we launched our first fund and has been a pleasure to work with as our fund has grown. We value their professionalism and depth of expertise, but what sets them apart is that they are “Midwest nice” across the board. Everyone is very service oriented and quick to address issues as they come up. Having worked with many service providers over the years, UMBFS stands out as a model of what a true partnership should be.

— Marco Hanig, Chief Executive Officer Alternative Fund Advisors

As an innovator in the alternatives industry, I'm grateful for the support of an organization like UMB. Their depth of expertise has been instrumental in helping me navigate the many operational challenges of delivering a private investment strategy in a registered-fund package.

— Larry Eiben, Managing Director Third Line Capital

Choosing the right fund administrator is an intricate and demanding task that requires careful consideration. From our initial conversation, it became immediately clear that UMB stands out not merely as a service provider but as a trusted and insightful partner, deeply committed to the success and satisfaction of their clients. Every interaction with their team has been both effective and enlightening, consistently affirming our choice and, in turn, enhancing the efficiency and operations of our offerings. The foundation of a robust business lies in its people, and it is evident that UMB places great emphasis on nurturing and empowering its staff to excel. We are delighted to have discovered a partner who offers tailored attention and shares our company's objectives, making our collaboration not only strategic but also rewarding.

— David Azvolinsky, Operations Manager Privacore Capital