8. Closed-End Funds (LO1, CFA3) Closed-end funds and ETFs have which of the following characteristics in common?

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8. Closed-End Funds (LO1, CFA3) Closed-end funds and ETFs have which of the following characteristics in common?

a. Shares of both closed-end funds and ETFs trade in the secondary market.

b. Both closed-end funds and ETFs stand ready to redeem shares.

c. The structures of closed-end funds and ETFs prevent shares from trading at a significant premium or discount to NAV.

d. Neither ETF nor closed-end fund managers receive a management fee.

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Fundamentals Of Investments Valuation And Management

ISBN: 9781260013979

9th Edition

Authors: Bradford Jordan, Thomas Miller, Steve Dolvin

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