Dictionary : Closed-End Investment
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.
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" or "closed-end fund".
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