And a closed end fund

So when you have this regular open end mutual fund, any individual investors can come to the fund and say

And what's special about an open ended mutual fund is that the close, or end of every day, either new shares can be removed from the fund, or be created before the fund.

If this is an open ended fund, what is a closed ended fund or do they even exist?

Which end should we open first?

So open one under International Health Fund . She'll wire the cash there.

So the big difference open ended fund when an investor wants their money back they have to deal with the fund itself the fund will buy back their share

That's a dead end. It's still open.

But what can happen so you might say well in a closed end fund

Hedge Fund 1.

Pete's mutual fund.

What happens in a closed end fund is that all of the investors are essentially

Then you could have another pension fund, Pension Fund 2.

They have much lower fees and they have this tradability, you can trade them at any kind of second on the market, you don't have to wait until the end of the day like an open end fund.

An open ended mutual fund at any point in time or I should say at the end of trading at the end of a day, they can lose investors, or they can gain investors so it's an incentive for an open ended fund to constantly market itself because the manager wants to manage more money so that he gets more of a management fee

If some wants to invest in a fund the fund will sell them the share so they're always dealing with the fund itself in a closed end fund once the fund is created it's share pool is fixed and if someone wants to buy or sell a share it happens in the secondary market so they're buying and selling from each other they're not dealing with the actual fund manager

So far we looked at open end mutual fund that can kind of grow and shrink depending on how many investors want to invest in that fund and they can grow by creating new shares and selling those shares to general public and they can shrink because someone who wants their money back goes to the fund and said

I'm going to end up with one open and zero closes.

Singapore's Central Fund provides pensions.

He's good at fund raising.

They'll fund anything these days.

So that's me, pension fund.

I am a pension fund.

Supported by JAPAN ARTS FUND

In the previous example, I had Pension Fund 1, that was my pension fund.

In the last video we had Pete starting an open ended mutual fund that was managed by Pete Inc.

Open it and scroll to the end to see the annotation report.

IMF stands for International Monetary Fund.

So now the fund has 500.

It could be a hedge fund.

And this is Pension Fund B.

He has a fund for orphans.

My rainyday fund. Sixtyeight thousand, okay?

But it's managed by Pete Inc. and we called it an open ended fund because at any time one of the people who owned a share or unit in the fund can redeem it back from the fund that Pete or the management company would say

Open, open... Open comlink channel.

Open your eyes. Open, open.

And to give you an idea of the last fund that Kleiner raised was a 400 million fund, so this for us is a very substantial fund.

I'll end up with open open P close close, and then I'll use rule two to get rid of the P.

He donated 10000 to the refugee fund.

He donated 10,000 to the refugee fund.

New School's Venture Fund in Silicon Valley,

Global Fund for Women in San Francisco.

A will pay Pension Fund 1 10 .

life saving programs like the Global Fund.

Naturally, nobody wanted to fund my research.