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.
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.
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According to Aberdeen, nearly seven in ten (69%) of financial advisors surveyed reported using closed-end funds when building client portfolios.
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and U.S.-domiciled closed-end funds as well as offshore and local closed-end funds worldwide.
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In a recent paper Lee, Shleifer and Thaler (1991), hereafter LST, argue that closed-end fund discounts reflect compensation for resale price risk in a segmented market primarily composed of individual investors.
Effective shortly after close of business on November 3, 2017, Highland Floating Rate Fund converted from an open-end fund to a closed-end fund, and began trading on the NYSE under the symbol HFRO on November 6, 2017.
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