Which of the following are characteristics of an open end fund? I Offers a fixed number of units at the time of the initial public offering II The manager is obligated to repurchase units on request III Typically trades at a discount to its net asset value IV The fund will have to reduce equity allocation in the face of high redemptions A I & III only B I & IV only C. II & III only D. II & IV only
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Offers a fixed number of units at the time of the initial public offering - This is not a characteristic of an open-end fund. Open-end funds do not have a fixed number of shares; they issue new shares as investors buy in and redeem shares as investors sell Show more…
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