Series 51: Closed-end Management Company

Taken from our Series 51 - MSRB Municipal Fund Securities Limited Principal Qualification Exam

Definition of the term Closed-end Management Company...

a management company that issues, through an IPO, a fixed number of shares, which are not redeemable from the fund but are bought and sold on the secondary market.

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Solomon Exam Prep Study Materials for the Series 51
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