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Investment trust |
Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia, Hutchinson | 0.43 sec. |
|
Investment trust A closed-end fund regulated by
the Investment Company Act of 1940. These funds have a fixed number of shares
that are traded on the secondary markets,
like corporate stock. The market price may exceed the asset value per share, in which case shares are selling at a premium.
When the market price falls below the (NAV)/share,
shares are selling at a discount. Many
closed-end funds are of a specialized
nature; the portfolio represents a particular
industry or, country. These funds are usually listed on US and foreign
exchanges. |
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