Closed-end fund

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Related to Closed-End Investment Companies: Closed End Mutual Funds

Closed-end fund

An investment company that issues shares like any other corporation and usually does not redeem its shares. A publicly traded fund sold on stock exchanges or over the counter that may trade above or below its net asset value. Related: Open-end fund.

Closed-End Fund

A mutual fund that issues a fixed number of shares at its establishment, and, afterwards, neither increases nor decreases the number of shares. Like other mutual funds, a closed-end fund is actively managed, meaning that the securities underlying the fund change from time to time in accordance with the fund's investment goals. A shareholder in a closed-end fund redeems shares with the issuer as with open-end funds, but may trade shares as if they were stocks. The value of shares in a closed-end fund is determined by supply, demand, and the fund's net asset value. See also: Exchange-traded fund.

Closed-end fund.

Closed-end mutual funds are actively managed funds that raise capital only once, by issuing a fixed number of shares. Like other mutual funds, however, fund managers buy and sell individual investments in keeping with their investment objectives.

The shares are traded on an exchange and their prices fluctuate throughout the trading day, based on supply, demand, and the changing values of their underlying holdings. Most single country funds are closed-end funds.

References in periodicals archive ?
The Boards of Trustees of Morgan Stanley High Income Advantage Trust (NYSE symbol: YLD), Morgan Stanley High Income Advantage Trust II (NYSE symbol: YLT) and Morgan Stanley High Income Advantage Trust III (NYSE symbol: YLH), closed-end investment companies (the "Closed-End Funds"), and the Board of Directors of Morgan Stanley High Yield Securities today approved proposed reorganizations of each of the Closed-End Funds into Morgan Stanley High Yield Securities, an open-end investment company.
This amendment to Rule 6530 limits quotations on the OTCBB to the securities of issuers that make current filings pursuant to Sections 13 and 15(d) of the Act, securities of depository institutions that are not required to make filings under the Act but file publicly-available reports with the appropriate regulatory agencies, registered closed-end investment companies, and insurance companies that are exempt from registration under Section 12(g)(2)(G) of the Act.
Liberty Asset Management Company is the fund manager for Liberty ALL-STAR Equity Fund (NYSE:USA) and Liberty ALL-STAR Growth Fund (NYSE:ASG), two multi-managed, closed-end investment companies.