Flocks of semiliquid funds purporting to offer exposure to private assets are vying for a perch in your portfolio. Even if these investment offerings seem new to you, they are not new inventions.

Shareholders of Invesco Ltd.’s IVZ QQQ Trust, Series 1, have approved a proposal to reclassify Invesco QQQ into an open-end exchange-traded fund (ETF), along with a change in its governance structure ...