Mutual fund with a set limit of shares available to investors or a set limit of monies or stock-types. Transactions in the shares of such funds are based on their market price. If the share price is above the offering price, it is at a premium. If the share prices is below the offering price, it is at a discount. The fund’s net asset worth, or NAV, is based on the number of shares times the current price. These shares may also traded on the stock exchanges. Called unit investment trust, or UIT, in the US and called unit trust in the UK and elsewhere. Contrast this to open-end mutual funds that continuously have new shares issued in response to investor demand.
What is CLOSED-END MUTUAL FUND?
Enter your email address to stay current on legal news and receive special offers
Featuring Black’s Law Dictionary
Nothing implied or stated on this page should be construed to be legal, tax, or professional advice. The Law Dictionary is not a law firm and this page should not be interpreted as creating an attorney-client or legal adviser relationship. For questions regarding your specific situation, please consult a qualified attorney.
- Capitalism, Socialism, & Communism Explained In Plain English
- What Is A Government Shutdown & Who Does It Affect?
- Is It A Monopoly? Everything You Ever Wanted To Know
- Breach Of Contract: What It Is, Types, Examples, & Resolving Them
- Plausible Deniability Definition, Examples, & Laws
- Nepotism, Cronyism, & Favoritism: Illegal Or Unethical?
- How To Get A Green Card
- How To Obtain A Criminal Background Check In Pennsylvania
- How To Avoid Probate
- How To Check If A Number Is On The Do Not Call List
- Best Way to Find Someone in Jail for Free
- How Do You Look up License Plate Numbers?
- Best Way to Run a Free Arrest Warrant Check
- What Is A Police Welfare Check?
- Signing a Letter on Someone Else’s Behalf
- How To Find An Inmate’s Release Date
- Best Way to Write a Professional Letter to a Judge
- How To Find A Name & Address Using A License Plate Number
- How To Look Up My Court Date Online
- How Do I Check On My Security Clearance Status?