Nathan purchased shares in a mutual fund through an initial public offering, and now no shares are issued and shares cannot be redeemed. What kind of fund did he invest in?

Question

Quizplus · Accepted Answer

Close-ended funds issue a fixed number of shares through an initial public offering (IPO), and after the IPO, shares are not issued again and cannot be redeemed with the fund. Instead, they are bought and sold on a stock exchange.

Nathan Purchased Shares in a Mutual Fund Through an Initial