Definitions for open-end fund
mutual fund, mutual fund company, open-end fund, open-end investment company(noun)
a regulated investment company with a pool of assets that regularly sells and redeems its shares
A collective investment scheme which can issue and redeem shares at any time.
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"open-end fund." Definitions.net. STANDS4 LLC, 2013. Web. 19 May 2013. <http://www.definitions.net/definition/open-end fund>.