open-end investment company
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- open-cut mining,
- open-end mortgage,
an investment company that issues shares continuously and is obligated to repurchase them from shareholders on demand.
Compare closed-end investment company.
Origin of mutual fund
First recorded in 1790–1800
Also called open-end investment company.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
US and Canadian an investment trust that issues units for public sale, the holders of which are creditors and not shareholders with their interests represented by a trust company independent of the issuing agencyBritish equivalent: unit trust
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
A company organized for the purpose of making investments. A mutual fund gets its capital stock from private individual investors, who, in effect, allow the mutual fund to decide where to invest their money.
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.