Home / CY AIF Law of 2018 / PART ΙΙ: PROVISIONS REGARDING THE ALTERNATIVE INVESTMENT FUNDS / Chapter 1: General characteristics and distinctions of AIFs / [07] Open-ended or closed-ended AIF.

7.Open-ended or closed-ended AIF.

An AIF may be -

(a) of the open-ended type, if its shares or units are, at the request of any of its shareholders or unitholders, repurchased or redeemed prior to the commencement of its liquidation phase or wind-down, directly or indirectly, out of the assets of the AIF and in accordance with the procedures and frequency set out in its fund rules or instruments of incorporation, prospectus or offering document of the AIF∙ or

(b) of the closed-ended type, in all other cases.