English version

closed-end fund

From Longman Business Dictionaryclosed-end fundˌclosed-ˈend ˌfund (also closed-ended fund British English) [countable]FINANCE a fund that has a fixed number of shares. Investors can sell their shares only to other investors, not back to the fundThe closed-end funds don’t have to worry about daily sales and withdrawals and thus can remain fully invested. fund
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