One of the mysteries of the English language finally explained.
1Having a predetermined and fixed extent.‘a closed-end contract’
- ‘There are two types of car leases: closed-end and open-end.’
- 1.1North American Denoting an investment trust or company that issues a fixed number of shares.
- ‘Earlier in that same quarter they began amassing a controlling stake in a closed-end investment company.’
- ‘One innovation that might be equal to this task is a closed-end investment fund for emerging market securities.’
- ‘Last year, the bank announced that it was changing the fund from an open-ended fund into a closed-end fund.’
- ‘Some billions of pounds of assets are tied up in closed-end funds, a figure that could double within five years as more companies close their life books.’
- ‘But you can make a decent profit from many closed-end funds if you buy them at a steep discount and wait for them to return to their usual levels.’
- ‘Previous offerings were not as successful because they were closed-end funds listed on the stock exchange which often traded at a discount to the value of the underlying assets.’
- ‘Unlike mutual funds, which make new shares available when investors want to buy and redeem when they sell, closed-end funds issue a fixed number of shares that trade on a stock exchange.’
- ‘Because investment trusts are closed-end funds, they don't have to buy and sell shares when new investors join and old ones leave.’
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