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| Definitions by InvestorWords.com |
| What is...? |
| closed-end fund A fund with a fixed number of shares outstanding, and one which does not redeem shares the way a typical mutual fund does. Such funds are often listed on a major stock exchange and trade like other securities. Unlike a typical mutual fund, a closed-end fund's share price can trade above or below its net asset value. also called closed-end investment company or publicly-traded fund. see also closed fund, investment trust, open-end fund, discount, premium. |
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