A closed-end mutual fund has a fixed:
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Tenure
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Rate of return
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Number of distributors
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NAV
A
Correct answer
Explanation
A closed-end mutual fund has a fixed tenure or maturity period, unlike open-end funds which are perpetual. The fund launches with a fixed corpus, and investors can only redeem units at maturity. NAV fluctuates based on market values, returns are not guaranteed, and distributor networks can vary.