CLOSEDENDFUND
Closed-end fund
A closed-end fund is a collective investment scheme that has a fixed number of shares. Unlike open-end funds, new shares/units in a closed-end fund are not created by managers to meet demand from investors. Instead, the shares can be purchased only in the market. This is the original design of the mutual fund which predates open-end mutual funds but offers the same actively managed pooled investments.The above text is a snippet from Wikipedia: Closed-end fund
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