IDC Resources

Closed-End Funds

A closed-end fund is a type of fund whose shares are listed on a stock exchange or traded on the over-the-counter market. Once issued, a closed-end fund’s common shares typically are not purchased or redeemed directly by the fund; they are instead bought and sold on the open market. Closed-end fund boards generally are subject to the same responsibilities imposed on mutual fund boards under the Investment Company Act of 1940. In addition, closed-end funds may trade on an exchange, and, in that circumstance, would be subject to the exchange’s listing standards, including possible governance provisions.

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Third-Party Resources

Below are links to additional resources created, published, and maintained by other organizations. They are merely a sample of additional resources for fund directors. IDC does not control, cannot guarantee, and is not responsible for their accuracy, timeliness, or continued availability. These links are provided solely as a service to fund directors and should not be construed as indicating in any way that IDC endorses either the content provided or the third-party providers of any such content.

Securities and Exchange Commission: Closed-End Fund Information