Open-End Investment Fund

is a type of investment fund that is characterized by the possibility to purchase or redeem its shares on any business day upon the investor's application to the fund’s provider or its agents. The fair price (i.e. estimated value) of a fund’s share is determined on a daily basis (except for weekends and holidays) by assessing the portfolio of securities and other assets in the fund’s property and calculating the value of the fund's net assets (NAV). Open-end investment funds generally invest in rather conservative assets with high liquidity and relatively low profitability, since they require cash funds for the possible share redemption at any time.