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close-ended mutual fund 共同基金的封闭性质
As for the close-ended fund, the number of stocks issued is fixed.
至于封闭式基金，其对外发行的股份数量则为固定的，无法增加。
The close-ended fund meets the serious challenge on the securities market.
封闭式基金在证券市场的运作上遇到严重的挑战。
Compared with close-ended fund, open-ended fund keep away moral hazard and adverse selection effectively.
与封闭式基金相比，开放式基金能更有效地防止逆向选择和道德风险。
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