What is another word for closed-end investment company?
Pronunciation: [klˈə͡ʊzdˈɛnd ɪnvˈɛstmənt kˈʌmpəni] (IPA) 
A "closed-end investment company" is also known as a closed-end fund, closed-end mutual fund, or a closed-end investment trust. These investment vehicles are structured as a publicly traded company that issues a fixed number of shares, which are traded on an exchange. Unlike open-end mutual funds, closed-end funds do not continuously issue new shares or redeem existing shares. Instead, the shares are bought and sold on the open market, and the price may trade above or below the net asset value (NAV) of the fund. Closed-end investment companies also typically invest in a diversified portfolio of securities, and the investments are managed by a professional investment management team.
