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?
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.
- How To Get an EIN Number
- What is a Credit Freeze?
- The 14th Amendment Explained
- What is the Security Exchange Commission?
- Restitution Law – What it is, How to Avoid it, and Tips on Asking for It
- Should I Freeze My Credit?
- Living Will – The Pros & Cons You Need to Know
- What does it mean to be acquitted?
- Forming an LLC in Missouri
- Double Jeopardy Law
- What Is A Police Welfare Check?
- Best Way to Find Someone in Jail for Free
- How to Transfer a Car Title When The Owner Is Deceased
- How To Find A Name & Address Using A License Plate Number
- Best Way to Write a Professional Letter to a Judge
- How To Find An Inmate’s Release Date
- What Can You Do At 18 Legally?
- Signing a Letter on Someone Else’s Behalf
- How Do You Look up License Plate Numbers?
- Why Do Policemen Touch Your Tail Light When They Pull You Over?