Closed-ended fund
A collective investment fund that has a fixed number of shares in issue. An example of a closed-ended fund is an investment trust.
Unlike an open-ended investment company (OEIC), the value of a closed-ended fund moves with demand for its shares. This means its shares could be trading above (at a premium) or below (at a discount to) the net asset value of the fund.
More on Investment trustsPopular terms
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