open-end investment company

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Related to Open-End Investment Companies: Closed End Investment Companies, Unit Investment Trusts

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 amendment also, Schmitt notes, expands the financial institution options to open-end investment companies in addition to banks and savings banks.
Open-end investment companies, commonly known as mutual funds, do not issue shares in their funds for resale to other potential shareholders.
Under the new amendments, Bloodworth said, open-end investment companies will be allowed to qualify as eligible institutions in which IOTA accounts may be established.
(8) Underwriting and dealing in, to a limited extent, all types of debt and equity securities that a member bank may not underwrite or deal in, except for ownership interests in open-end investment companies ("bank-ineligible securities"); and