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06 A fund is "closed". Is that the same as a closed-end fund? |
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06 A fund is "closed". Is that the same as a closed-end fund? |
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This article is from the FAQ, by with numerous contributions by others.
No. Some open-end funds are closed to new investors because the
fund manager feels that it cannot be as effective with a very
large amount of money. This typically happens with funds that
invest in small companies. The open-end format remains the same,
but investments are not accepted from those who do not already
have accounts.
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