What does “closed to new investments” mean?
hotchile asked:
I just got a message from my retirement account that read “as of September 8, 2008, this fund is closed to new investments”. What does this mean to my account?
I just got a message from my retirement account that read “as of September 8, 2008, this fund is closed to new investments”. What does this mean to my account?
Judy:
It means you can’t put any additional money in. Some mutual funds ara “closed end” funds which means they set a limit on how much money they’ll take in from investors.
June 11, 2009, 1:15 amsrc50:
That means they are closing the fund to new investors. Existing investors (people with existing accounts) can continue to buy shares.
June 11, 2009, 1:13 pm