closedfunds
nounUK /kləʊzd fʌndz/
US /kloʊzd fʌndz/
Money pools that people put money into but cannot easily take it back out.
My grandpa put his savings into closed funds that he can only cash out after ten years.
RELATED WORDS
OTHER MEANINGS
2. Investment companies whose shares trade on a stock exchange instead of being bought back by the company.
Closed funds often trade at prices different from the value of the things they own.
3. Money set aside for a special purpose that cannot be used for anything else.
The city keeps closed funds for road repairs only.
4. Funds that are no longer open to new investors.
That popular mutual fund became one of the closed funds last spring.