Closed-End Fund

Investors can purchase units in close-ended mutual fund schemes only during the New Fund Offer (NFO) period directly from the fund house. After the NFO period, new investors cannot enter the scheme, and existing investors cannot exit until the scheme matures. To provide interim liquidity, these schemes are listed on a stock exchange after the NFO, allowing units to be traded. The total number of outstanding units in a close-ended scheme remains unchanged during these trades. Units may trade at a premium or discount to the fund's NAV, influenced by market conditions, investors’ expectations of the fund’s future performance, and the demand and supply of the fund's units.