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Strategies & Market Trends : New Russia - Money Talksý, Rubles Walksý
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To: doormouse who wrote (4)9/9/1997 9:36:00 AM
From: Terry Jackson   of 29
 
An "open" fund buys stocks on the market as it receives cash from investors. A "closed" fund starts out with a specific amount of money and buys stocks with that., it does not buy more stocks. One advantage of the latter is that there cannot be a run by investors wanting to cash in their shares (requiring the fund to sell their stocks and thereby driving the price down).

American Depositary Receipts (ADRs) are foreign stocks that have been deposited in an American bank and are traded from there.
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