closed-end fund
noun[C]
ukusFINANCE
aninvestmentfundin whichsharesin thefundcan beboughtandsold, but no newsharesare madeavailable:
Thepriceof asharein a closed-endfundisdeterminedpartiallyby thevalueof theinvestmentsin thefund, andpartiallyby thepremiumplacedon it by themarket.