The fundamental difference between an open-ended and a close-ended fund pertains to the liquidity restrictions on investors redeeming their subscriptions. For open-ended funds, investors have the choice of whether to partially or completely redeem their subscription on each Redemption Day, subject to the redemption terms specified in the Fund’s offering document. Close-ended funds on the other hand provide no internal mechanisms for investors to redeem their subscriptions.

Did this answer your question?