A close-ended fund has a fixed fund size (corpus) decided at the time of its launch (during the New Fund Offer - NFO). The units are issued only during the NFO period. After the NFO, the units are typically listed on a stock exchange, and investors can buy or sell them from other investors through the exchange. The fund also has a fixed maturity period, after which it is wound up and the proceeds are distributed to unit holders.
The corpus of funds and its duration is fixed in case of ___________ fund.
Asked in westbengal/WBCS Main 2019 Paper 5 2019 · Topic: Money & Banking (Financial Markets: Money Market and Capital Market (Components, Instruments, Role))
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