An investment company that issues shares like any other corporation and usually does not redeem ( redemption) its shares. A publicly traded fund sold on stock exchanges or over-the-counter that may trade above or below its net asset value. Related: open-end fund. Bloomberg Financial Dictionary
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These funds have a fixed number of shares, which are listed on the stock exchange. The market price of the shares is determined by demand and supply factors. Investment trusts are closed-end funds. London Stock Exchange Glossary
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A fund in which there is a fixed amount of authorized share capital, and new shares may not be created on demand. Known as Closed-ended Publicly Quoted Funds in the US and Investment Trusts in the UK.
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closed-end fund UK US noun [C]
► FINANCE an investment fund in which shares in the fund can be bought and sold, but no new shares are made available: »
The price of a share in a closed-end fund is determined partially by the value of the investments in the fund, and partially by the premium placed on it by the market.
Financial and business terms. 2012.