Interval funds are best described as schemes that

Question

Accepted Answer

D. {'text': 'Are largely close-ended but open at pre-specified intervals', 'label': 'D'}

1. Interval funds combine features of open-ended and close-ended schemes.
2. They are largely close-ended but turn open-ended for pre-set transaction periods.
3. Minimum transaction period is 2 days; maximum interval period is 15 days.
4. Between intervals investors use the listed exchange platform to exit.
_Source: NISM Series V-A: Mutual Fund Distributors Workbook (Dec 2019), Ch 2 "Concept and Role of a Mutual Fund", §2.2.1_

Answer

{'text': 'Are always open for daily transactions', 'label': 'A'}

Answer

{'text': 'Are managed passively against a fixed index', 'label': 'B'}

Answer

{'text': 'Have no maturity and never list on an exchange', 'label': 'C'}