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.
Nearby TermsClosed fund Closed out Closed-end fund Closed-end management company Closed-end mortgage
Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University