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Finance Glossary

Just call us Bond. Amortized bond.

Over 700 finance terms, Shmooped to perfection.

Closed-End Fund

Definition:

See mutual fund. While a mutual fund is sometimes known as an open-end fund, a closed-end fund is more like a stock. A closed-end fund releases a specific number of shares during an IPO. Those shares can then be traded on an exchange; how much you make from this type of fund will depend on how the market does (just like with stocks).