Motilal Oswal – Vision 2030 fund is a close-ended category III AIF. The Next Trillion Dollar opportunity Portfolio also comes under the AIF category III. But the latter is an open-ended Scheme.
The open-ended scheme has no limit on the number of units/ shares. Whereas in a close-ended scheme only a set of shares /Units are issued.
A closed-end fund is launched through an initial public offering (IPO) in order to raise money for investment. After that period passes, investors can’t subscribe to the same.