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Interval Fund (Scheme)

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Dictionary Says

Definition of 'Interval Fund (Scheme)'

A fund that combines the features of open-ended and closed-ended schemes, making the fund open for sale or redemption during pre-determined intervals.
Investopedia Says

Investopedia explains 'Interval Fund (Scheme)'

In other words, this is a mutual fund with redemption features in between those of closed-end and open-end funds.

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