Multiple choice

The offer document of a closed-end fund is issued

  1. every year

  2. only once at the time of issue

  3. every quarter

  4. every six months
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Closed-end funds have a fixed capital raised through an initial offer, similar to an IPO. Once issued, shares cannot be redeemed at NAV but trade on stock exchanges. The offer document is issued only once at the time of the initial issue.

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