In the context of mutual funds, which of the following is a difference between a closed-end fund and anopen-end fund?
A. Aclosed-end fundissues a fixed number of shares, whereas anopen-end funddoes not have a fixed number of shares.
B. Unlike an open-end fund,aclosed-end fund cannot invest the money received from selling shares in a portfolio of assets.
C. Shares of closed-end funds cannot be traded among investors, whereas shares of open-end funds can be traded like stocks.
D. Unlike an open-end fund, a closed-end fund issues additional shares when demand increases.
Answer: A
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