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    Community: Investing Wiki

    Term Of The Hour

    Closed end fund: Original post by Leslie McClintock of Demand Media Source Capital, the mutual fund managed and marketed by First Pacific Advisors, is a closed-end fund, rather than a traditional open-end mutual fund. This means that the fund consists of a fixed pool of capital and shares are bought and sold via the stock exchange throughout the day, just like stocks. The market, not the fund company, determines…

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