What is a major benefit of an open-ended Property Authorised Investment Fund (PAIF)?

An open-ended Property Authorised Investment Fund (PAIF) allows for liquidity through regular buying and selling of shares, which is a key advantage for investors. This structure provides investors with the ability to enter and exit their investments more freely compared to closed-ended funds, where share transactions may be more limited and tied to the secondary market.

The mechanism of open-ended funds means that they can issue new shares or redeem existing shares as investor demand changes. This ensures that the fund's share price closely aligns with the underlying value of its assets, often leading to a more straightforward process for investors looking to adjust their positions. This liquidity feature is particularly appealing for investors who prioritize having easier access to their capital and the ability to respond to market movements.

Other options may highlight different aspects of investment vehicles, but the liquidity characteristic of an open-ended PAIF is a standout feature that enhances investor flexibility and control over their investments.