1.1North American Denoting an investment trust or company that issues a fixed number of shares.
- One innovation that might be equal to this task is a closed-end investment fund for emerging market securities.
- 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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