Explain why closed-end funds can sell at prices other than the fund's NAV
What will be an ideal response?
Answer: Closed-end funds have a set amount of shares outstanding. The market price is determined by the economic forces of demand and supply, which are in turn affected by changes in the NAV, the market outlook, and investor expectations. Beyond normal competitive pressures, other factors that lead to discounts (and premiums) include the fund's relative performance, its annual payout or yield, the name recognition of the fund's manager, fund asset liquidity, and/or a substantial amount of unrealized appreciation in the fund's portfolio.
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Operations management is applicable:
A) mostly to the service sector. B) to services exclusively. C) mostly to the manufacturing sector. D) to all firms, whether manufacturing or service. E) to the manufacturing sector exclusively.
Refer to the information above. What is the maximum inventory held in a given cycle?
A) 825.56 B) 790.57 C) 800 D) 900.39 E) 750.44