Latest data: SEC Form PF · Q4 2025 · Released Mar 15, 2026
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Liquidity

Liquidity Mismatch Calculator

Compares portfolio liquidity against investor redemption terms.

Liquidity Mismatch Estimator

Liquidity Adequately Covered

Available liquidity in 30 days: 80.0% of AUM.
Requested under stress: 25% of AUM.

Liquidity Coverage
320%
Shortfall / Surplus
55.0%

Liquidity Coverage Analysis

Understanding Liquidity Mismatch

The Liquidity Mismatch Estimator helps identify potential risks when a fund's redemption terms are shorter than the time it would take to liquidate its underlying assets. This is a critical risk metric in asset management, designed to prevent situations where a fund is forced to sell illiquid assets at fire-sale prices to meet investor redemptions.

The mathematical approach compares the percentage of assets that can be liquidated within the fund's redemption notice period against a hypothetical stress scenario of mass redemptions.
Liquidity Coverage Ratio (LCR) = (Available Liquid Assets within Term / Stressed Redemptions) × 100

If the LCR falls below 100%, the fund exhibits a liquidity mismatch. This means in the specified stress scenario, the fund would not have enough liquid cash to meet obligations and might need to implement gates, suspend redemptions, or suffer significant market impact costs.

To manage and understand related liquidity concepts, explore these calculators:

Frequently Asked Questions

A mismatch occurs when a fund offers investors the right to withdraw cash faster than the manager can sell the underlying assets without severe price impact.
It creates a run-on-the-bank scenario where the first investors out get cash, and remaining investors are left holding unsellable illiquid assets.
By enforcing long lock-ups, side pockets for illiquid investments, and strict redemption gates.

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