The meaning and definition of Closed-End Fund - Cl
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Posted On: 03/16/2013 12:06:01 AM
The meaning and definition of Closed-End Fund -
Closed-end funds issue a fixed number of shares that usually trade on an exchange, just as stocks do. The share price of closed-end funds is set by supply and demand in the market. This contrasts with open-end mutual funds, which stand ready to issue and redeem shares at net asset value on a continuous basis. Closed-end funds may be thinly-traded or trade at a discount to NAV.
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