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Answer Posted / smart.irfan
Mutual Fund is a investment company that pools money from
many investors or shareholders and invests the money in
security markets such as shares, debentures, bonds, stock.
A mutual fund scheme can be classified into open-ended
scheme or close-ended scheme depending on its maturity period.
TYPES OF MUTUAL FUNDS? .
Open-ended Fund:
An open-ended Mutual fund is available for subscription and
repurchase on a continuous basis. These Funds do not have a
fixed maturity period. Investors can conveniently buy and
sell units at Net Asset Value (NAV) related prices which are
declared on a daily basis. The key feature of open-end
schemes is liquidity.
Close-ended Fund:
A close-ended Mutual fund has a stipulated maturity period
e.g. 5-7 years. The fund is open for subscription only
during a specified period at the time of launch of the
scheme. Investors can invest in the scheme at the time of
the initial public issue and thereafter they can buy or sell
the units of the scheme on the stock exchanges where the
units are listed. In order to provide an exit route to the
investors, some close-ended funds give an option of selling
back the units to the mutual fund through periodic
repurchase at NAV related prices. SEBI Regulations stipulate
that at least one of the two exit routes is provided to the
investor i.e. either repurchase facility or through listing
on stock exchanges. These mutual funds schemes disclose NAV
generally on weekly basis.
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