Series 24: Management Companies: Closed-end Funds

Taken from our Series 24 Online Guide

Management Companies: Closed-end Funds

Closed-end management companies also offer shares of a fund that contain a portfolio of securities. Unlike open-end funds, closed-end funds raise a fixed amount of capital through an initial public offering, after which they no longer issue new shares. Closed-end funds also differ from mutual funds in that they can be traded on the secondary market like a stock. For this reason, we say that share

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