open-end investment company

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open-end investment company:

see mutual fundmutual fund,
in finance, investment company or trust that has a very fluid capital stock. It is unique in that at any time it can sell or redeem any of its outstanding shares at net asset value (i.e.
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The excess expenses for which open-end companies are explicitly penalized include interest on debt used to finance the portfolio of the investment company, the investment advisor's fee above some specified level, and transactions costs above some specified level.
Only nine open-end companies exist that have a contractual marginal rate of zero over any NAV interval.