Closed-end fund

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Related to Closed-end funds: Closed End Investment Company

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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
First, in terms of diversification, closed-end funds offer investors a variety of securities within a single portfolio, which is oftentimes extremely difficult to accomplish on an individual level.
Or as she describes it: "Part of my job is to be an apostle and educator" of closed-end funds.
For instance, closed-end funds frequently trade at a premium or a discount to net asset value (NAV).
"We believe the discounts at which closed-end funds are trading are very measurable because they tell us what investors are thinking.
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.
The company also provides data feeds, web site feeds, report outsourcing services including production of fund fact sheets, and an online database of publicly issued documents relating to closed-end funds.
For example, some closed-end funds that invest in Chinese stocks had a superb performance in early 2007, but developed discounts by year's end on investor fears that the stocks are due for a tumble.
According to the court, A's exclusive use of the fourth quartile of closed-end funds was improper.
The existence of a January seasonal in the returns of both closed-end funds and small firms explains most of the comovement observed in the monthly returns during the period from July 1965 to December 1994.
DWS closed-end funds, DWS Municipal Income Trust (NYSE:KTF) and DWS Strategic Municipal Income Trust (NYSE:KSM) on Saturday declared regular monthly distributions of USD0.0425 and USD0.0475 per share, respectively, unchanged from that paid out earlier.
Their decisions often are based on emotion, and they lack patience.<br />For the last 30 years, our firm has been dedicated to following closed-end funds. Closed-end funds are cousins of open-end funds.
The Fund is a closed-end fund, and closed-end funds do not continuously issue shares for sale as open-end mutual funds do.