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Hybrid funds services with flexible evergreen and semi-liquid structures
In today’s evolving investment landscape, flexibility is key. Investors are seeking innovative fund structures that balance liquidity with access to alternative assets. That’s where hybrid, semi-liquid, and evergreen funds come in: offering the best of both worlds.
Why choose hybrid, evergreen and semi-liquid funds?
These structures combine the liquidity of open-ended funds with the potential returns of alternative investments. But with flexibility comes complexity: operational and regulatory demands that require precision and experience.
How IQ-EQ supports you
We’re uniquely positioned to help you navigate this complexity. With a proven track record across key jurisdictions, integrated technology platforms, and a team of seasoned professionals, we deliver comprehensive administration for hybrid, evergreen, and semi-liquid funds.
Comprehensive solutions
A full suite of administration services is delivered across all asset classes—liquid and illiquid—enabling tailored solutions that reflect the unique nuances of each hybrid, evergreen and semi-liquid fund
Specialist expertise
Access to a team of over 120 professionals with deep knowledge of open-ended, semi-open-ended, and evergreen structures ensures expert guidance throughout onboarding, fund set-up, and the entire lifecycle of your fund
Integrated technology
A streamlined operating model is powered by PFS Paxus, a single end-to-end system servicing both liquid and illiquid asset classes. This is complemented by market-leading platforms and dedicated software for asset-level, SPV, Middle Office, and AML/KYC services. Through IQ-EQ Cosmos, data feeds from custodians, prime brokers, and accounting platforms are consolidated to deliver enhanced reporting and analytics.
From fund launch to investor servicing, we support every stage of your fund’s lifecycle
- Fund launch and set-up
- Fund accounting
- Middle office and value-added services
- Investor services
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Hybrid funds FAQs
What are hybrid funds?
Hybrid funds combine features of both closed-ended and open-ended structures. They allow investors exposure to liquid and illiquid assets, with periodic subscription and redemption windows. This structure blends the liquidity of listed instruments with the return potential of alternative investments, enabling managers to meet diverse investor needs through a single vehicle.
How do evergreen funds differ from hybrid funds?
Evergreen funds are a subset of hybrid funds. They are open-ended with no fixed termination date, allowing investors to enter or exit at regular intervals. Managers benefit from continuous fundraising without launching new vehicles, which improves operational efficiency.
What makes semi-liquid funds unique?
Semi-liquid funds balance investor accessibility with the illiquid nature of their holdings. They offer limited redemption windows – typically quarterly or annually – so managers can avoid forced sales while investors gain predictable access to their capital.
Why are these fund structures gaining popularity?
Investors want more liquidity and flexibility than traditional closed-ended funds provide, while managers seek operational efficiency and continuous fundraising. Regulatory reforms like ELTIF 2.0 and LTAF frameworks have also lowered barriers, accelerating adoption.
What are the main advantages for investors?
These structures offer:
- Liquidity: Scheduled or continuous redemption options.
- Performance potential: Access to diverse asset classes, including private equity, real estate, and credit.
- Diversification: Broader investment universe mitigates risk.
- Flexibility: Customisable terms and strategies.
What challenges do managers face with these funds?
Key challenges include complex accounting, navigating multiple regulatory regimes, matching cash flows to redemption terms, and ensuring transparent expense allocation. Expert fund administration is critical to address these complexities