1Having a predetermined and fixed extent.

1. 1.1North American Denoting an investment trust or company that issues a fixed number of shares.
   Example sentencesExamples

   • One innovation that might be equal to this task is a closed-end investment fund for emerging market securities.
   • Previous offerings were not as successful because they were closed-end funds listed on the stock exchange which often traded at a discount to the value of the underlying assets.
   • But you can make a decent profit from many closed-end funds if you buy them at a steep discount and wait for them to return to their usual levels.
   • Some billions of pounds of assets are tied up in closed-end funds, a figure that could double within five years as more companies close their life books.
   • Last year, the bank announced that it was changing the fund from an open-ended fund into a closed-end fund.
   • Because investment trusts are closed-end funds, they don't have to buy and sell shares when new investors join and old ones leave.
   • Unlike mutual funds, which make new shares available when investors want to buy and redeem when they sell, closed-end funds issue a fixed number of shares that trade on a stock exchange.
   • Earlier in that same quarter they began amassing a controlling stake in a closed-end investment company.