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Is a closed-end fund “closed” to new investors?

April 26, 2017closed closed-end fund investors

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Is a closed-end fund “closed” to new investors?

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There is often confusion between closed-end funds and open-end funds that are “closed.” CEFs have fixed amounts of capital and shares but are open to new investors through customary securities trading procedures. Conversely, open-end funds that are “closed” do not allow new investors into a fund.