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Closed End Investment
What does it mean?
When an investment company issues a fixed number of shares in an actively managed portfolio of securities. The shares are traded in the market just like common stock.
In Other Words...
Most mutual funds are open end funds, not closed end. The main difference with closed-end funds is that market price of the shares is determined by supply and demand and not by net asset value (NAV).
Also known as a closed end mutual fund.
Related Links
Mutual Fund Basics Tutorial - Learn about the basics--and the pitfalls!--of investing in mutual funds.
Related Terms
Mutual Fund | Net Asset Value | Open End
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