The scale of the fund is not fixed, but an investment fund that can issue new shares or be redeemed by investors at any time according to market supply and demand. Closed-end fund is relative to open-end fund, which refers to the investment fund whose fund size has been determined before issuance and remains unchanged within the specified period after issuance.
Extended data:
Stock fund is an investment fund with stocks as the investment object, and it is the main type of investment fund. The main function of stock funds is to concentrate the small investments of mass investors into large funds. Investing in different stock portfolios is the main institutional investor in the stock market.
According to the purpose of fund investment, equity funds can also be divided into capital appreciation funds, growth funds funds and income-earning funds. The main purpose of capital appreciation fund investment is to pursue rapid capital growth, thus bringing capital appreciation. This kind of fund is risky and has high returns. It is risky for growth funds to invest in common stock with growth potential and income.
Stock income funds invest in stocks issued by companies with stable development prospects, and pursue stable dividends and capital gains. This kind of fund has low risk and low income.