A mutual fund or investment scheme that comes with no restrictions and can redeem or issue shares at any given time. If there is a lot of demand, the fund will issue shares to as many investors as it is deemed beneficial so investors purchase shares from the fund and not from other shareholders.

Previous Terms: 1031 Exchange, 1035 Exchange, AARP, Abeyance, Abstraction Principle, Accelerated Amortization, Acceptance Credit, Acceptance of a Bill of Exchange, Accommodation Bill, Accommodation Endorser