Definition:
An open-end(ed) fund is a collective investment which can issue and redeem shares at any time. An investor can purchase shares in such funds directly from the mutual fund company, or through a brokerage house.

The Fund can not differentiate the property rights of participants fund holding participation units the same type. The Fund can not differentiate the property rights of participants fund holding participation units the same type. Participation unit may not be disposed by a participant to a third party. Participation unit can be inherited. An open-end Investment Fund sells and redeems units with the frequency specified in the statute of fund, but not less frequently than once every 7 days