Open mutual fund
It does not limit the number of issued shares. Shares are connected with the right of redemption by the investment company at the request of its owner, it does not have to have a nominal value. In the case of purchase, the investment company will purchase a mutual fund share for its current value announced to the date on which the shareholder has received a request for redemption.
Closed mutual fund
Investment company does not redeem mutual fund shares. The name of the fund consists of the name of the managing investment company and of identification of closed mutual fund. The closed mutual fund is set up for a fixed period, which must be stated in the statute.
