A closed-end fund regulated by the Investment Company Act of 1940. These funds have a fixed number of shares which are traded on the secondary markets similarly to corporate stocks. The market price may exceed the net asset value per share, in which case it is considered at a "premium." When the market price falls below the NAV/share, it is at a "discount." Many closed-end funds are of a specialized nature, with the portfolio representing a particular industry, country, etc. These funds are usually listed on US and foreign exchanges. The New York Times Financial Glossary
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a company that invests its capital in Securities ( bonds, shares etc). The value of the company's shares and Dividends depends on the profit made on these investments; = INVESTMENT COMPANY
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investment trust UK US noun [C] (also investment company, investment firm, investment trust company) FINANCE
► a company that earns money by investing in other companies: »
The real estate investment trust owns a 75% interest in a residential development in Chicago.
Financial and business terms. 2012.