closed-end fund

The minister also emphasized the need to update the legislation on closed-end funds to boost revenue for the 2024 budget bill, which must be presented to lawmakers by August.

The hedge fund mogul Boaz Weinstein has profited for years by shaking up closed-end funds, a class of publicly traded investment vehicles that can sometimes trade at wide discounts to their net asset value.

For example, closed-end funds frequently trade at discounts, meaning there are opportunities to buy some bond/fixed-income exposure at bargain prices.

A wide range of investments were held, including mutual funds, annuities, E.T.F.s and closed-end funds.

It is an investment trust, or closed-end fund.