Closed-ended funds

A closed-ended fund is a fund of investments with a set number of shares that can be bought and sold on a stock market. Closed-ended funds have a limited pool of capital, while open-ended funds keep giving out and buying back shares at their total assets (NAV). Shares of closed-ended funds can be bought and sold on the secondary market. The price may be different from the fund's net asset value. (For EDITING)