Definitions for "closed-end investment company"
A fund with a fixed number of shares outstanding, and one which does not redeem...
same as closed-end fund
An investment company that issues a fixed number of shares in an actively managed portfolio of securities. The shares may be of several classes; they are traded in the secondary marketplace, either on an exchange or over the counter. The market price of the shares is determined by supply and demand and not by net asset value.