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Open-Ended Funds: Open-ended mutual schemes are continuously available for subscription and repurchase. The important thing about open-ended mutual funds is that there is no set maturity period and investors have the choice of regularly buying and selling units at net asset value (NAV). The previous performance of these funds can be monitored, enabling the investor to make a well-informed choice. These funds are an excellent choice if the investor is looking for liquidity alone.
Close-Ended Funds: A closed-end fund works like a fund traded in exchange. A limited number of units are available for purchase in a close-ended mutual fund. During the New Fund Offer (NFO) period, the units of a closed mutual fund are available to the unitholders. The investors can trade the units on their NAVs at premiums or discounts. However, the redemption of these mutual funds is only permitted after the fund's maturity, which is typically between 3 to 7 years. These funds are a perfect choice for those investors who are not investing in short-term financial goals of a few months.
Interval Funds: These mutual funds consist of both open-ended and close-ended mutual funds. However, the units of these funds can be purchased only during particular periods, which is determined by the fund house launching the scheme. For the rest of the duration, the fund remains shut and no purchases or sale of units can be made. This operates best for investors, who in a brief span of time, want a lump sum return.
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