closed fund

closed fund definition - business

closed fund

A mutual fund that no longer issues shares to nonshareholders, but that may continue to sell shares to existing shareholders. A fund usually closes because its management has decided the fund has grown too large to be managed effectively.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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