John bought a share of mutual fund ABC for $$25$ when NAV per share was $$27.$ And when John sold his share the marke price was $$30$ and NAV $$31$

This is an closed$-$end fund, because NAV per share and market price per share differ

This is an open$-$end fund, because NAV per share and market price per share differ

John's holding period return $($HPR$)$ is $14\mathrm{.}81\%$

John's holding period return $($HPR$)$ is $12\mathrm{.}9\%$