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Providing mutual fund shareholders intermediate degrees of liquidity is the goal of those who have put together the first interval fund, a closed end fund that opens on a periodical basis. The Seligman Henderson Global Emerging Companies Interval Fund is an open ended global small cap fund that will only allow redemptions once every quarter. The fund, which is in registration with the Securities and Exchange Commission, is expected to become effective within six months, according to Donald R. Pitt, who is president and chief executive officer of Seligman Financial Services in New York, which is an affiliate of J.W. Seligman & Co.
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