Closed-end fund refers to a securities investment fund that has determined the total amount of issuance and the issuance period at the time of establishment, and fixed the total amount of issuance within the prescribed period after issuance.
Investors of closed-end funds can't redeem their fund shares from the issuer during the fund's existence, and the realization of fund shares must be listed and traded on the stock exchange. The circulation of fund shares is listed on the stock exchange, and investors must bid on the secondary market through securities brokers in the future.
When closed-end funds are traded in the secondary market, the increase or decrease of 10% shall be limited.
Extended data
Financial products without price restrictions:
Under any of the following circumstances, there is no limit on the price increase or decrease on the first trading day:
(1) Initial public offering of listed stocks and closed-end funds;
(2) Issuing listed stocks;
(3) Stocks that resume trading after suspension of listing;
(4) Other circumstances identified.
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