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 ?
So Nuveen has tried to offer support for closed-end fund vehicles over the years.
Since 2013, closed-end fund usage increased as financial advisors became significantly more likely to use such funds in clients' portfolios, according to Nuveen's 2016 Closed-End Fund Usage Study.
3 April 2014 - While financial advisors are increasingly recommending closed-end funds to their clients, a major roadblock facing advisors is a lack of investor understanding of these investment vehicles according to a survey of financial advisors by Scotland-based Aberdeen Asset Management Inc.
The municipal managed account, called First Trust Municipal Closed-End Fund Portfolio, begins with a universe of approximately 110 national municipal closed-end funds.
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 First Trust Composite Closed-End Fund Index is a composite index of the municipal, taxable fixed income and equity indexes which is intended to provide a capitalization weighted representation of the entire U.
The Board of Trustees have approved in principle plans to merge five tax-exempt closed-end Funds as follows: Putnam Investment Grade Municipal Trust (NYSE: PGM) and Putnam Municipal Bond Fund (NYSE: PMG) would be merged into Putnam Municipal Opportunities Trust (NYSE: PMO), and Putnam High Yield Municipal Trust (NYSE: PYM) would be merged into Putnam Managed Municipal Income Trust (NYSE: PMM).
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.
Closed-end funds are priced at a discount to their NAV because managers of such portfolios are perceived as less responsive to profit opportunities.
Investors may learn more about closed-end funds at http://www.
This link provides fund details, monthly holdings information, daily pricing and yield information, semiannual and annual reports, and other information about Putnam closed-end funds.