A fund that issues a fixed number of shares in an initial public offering (IPO) which are then traded like a security on the stock market. The price of a closed-end fund is determined by market demand and net asset value (NEV). Contrary to common belief, a closed-end fund is not a type of mutual fund which the Securities and Exchange Commission (SEC) defines as an open-end company. See open-end fund.
Browse by Subjects
See All Related Terms »
National Savings certificates
American Psychological Association (APA):
Chicago Manual of Style (CMS):
Modern Language Association (MLA):