Investment Trusts
 
These are closed-ended funds regulated by the
Investment Company Act of 1940.
 
These funds have a fixed number of shares.
 
The market price may exceed the net asset value per share,
in which case shares are selling at a premium.
 
When the market price falls below their net asset value,
they are selling at a discount.
Many closed-end funds are of a specialized nature;
the portfolio represents a particular industry or, country.
 
These funds are normally listed on a stock exchange.