Closed-end fund


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Related to Closed-end fund: open-end fund

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 rules-based index has two objectives - 1) to ensure the index constituents provide similar asset class exposures as the broader taxable closed-end fund market, and 2) to ensure the index constituents have trading liquidity.
The taxable fixed-income managed account, called First Trust Taxable Fixed-Income Closed-End Fund Portfolio, begins with a defined universe of approximately 150 taxable fixed-income closed-end funds from several categories including: convertible, high yield, investment-grade corporate, global, US Government, mortgage, senior loan, limited duration and multi-sector.
Ken and Jeff intend to use their 34 years of combined experience in the closed-end fund industry to manage these new portfolios and to choose funds which they believe are being undervalued by the market.
The First Trust Equity Closed-End Fund Index is a capitalization weighted index designed to provide a broad representation of the equity based closed-end fund universe.
To be included in an index, each closed-end fund security must be listed on U.
Mergers of Three Closed-End Funds into Open-End Funds
Putnam Investments believes that the closed-end Funds continue to hold an important position in the broad range of Putnam products.
Among the other principal findings of the poll, which aimed to capture current investor sentiment toward closed-end funds (CEFs) and index-based exchange-traded funds (ETFs):
Jon Chatfield is Portfolio Manager of CEFA's Hybrid Income Portfolio and is also responsible for managing Closed-End Fund Advisors, Inc.
He was joined by his colleague Yuriy Layvand, CFA, Associate Director at Fitch, and Mariana Bush, CFA, Closed-End Funds Analyst at Wells Fargo Securities, William Meyers, Vice President at Nuveen Investments, and Steve O'Neil, CFA, Portfolio Manager at RiverNorth Capital Management.
The court believed a correct analysis would be to take the arithmetic mean of all of the closed-end funds, as shareholders in all closed-end funds lack control.
Both open-end and closed-end funds are run by portfolio managers and invest in stocks, bonds or other securities.