An investment fund that maintains portfolios of lease obligations, similar in structure to a bond fund. Lease obligations tend to have shorter maturities than bonds, and lease fund managers must maintain agreements with purchasers for the obligations to cover investor redemptions, since there is no secondary market for lease obligations.
Related information about lease fund:
- Lease Fund - Financial Dictionary - The Free Dictionary
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- PA DCNR - Policy
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- Pa. DCNR - Gas Leasing
The General Assembly created the Oil and Gas Lease Fund in 1955 and established a landmark and farsighted policy of taking the money from the sale of ...
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