open end mutual fund definition

open end mutual fund

Mutual fund (unit trust) which, unlike a closed end mutual fund, continuously sells new shares (units) and buys (cashes or redeems) already issued shares at the market price. Called 'open' because its size (in terms of total net asset value) fluctuates as its shares are bought and sold every business day. Also called open end investment company.

open end mutual fund is in the Banking, Commerce & Finance, Investing and Securities & Futures Trading subjects.

open end mutual fund appears in the definition of the following term: open end investment company

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