The managers concerns were that property might prove to be an illiquid investment, particularly in a falling market.

Because low-income housing is a long-term, relatively illiquid investment, investors typically put only 7 to 8 percent of their portfolios in it.

Recently, many hedge funds have turned away from investing into restricted illiquid investments.

Although the illiquid investments are paying little in cash distributions, the asset value of the oil and gas reserves held by the partnerships is significant.

"They're providing creditors the chance to sell out and liquefy their otherwise illiquid investments."

Most banks refuse to lend money for the purchase of rare and vintage automobiles, considering them illiquid investments.

From the seller's point of view, a mortgage is generally considered an illiquid investment that is not simply transferred to another party.

Shareholders worried that the company was getting too big to focus on the small or illiquid investments it favored.

And there are legal restrictions that prevent mutual funds from putting a high proportion of their money into illiquid investments.

The downside is that these can be highly illiquid investments - with no guarantee of when you can withdraw your money.