open-end fund

[TimothynTep]

a regulated investment company with a pool of assets that regularly sells and redeems its shares

[Mendocky]

Open-end fund (or open-ended fund) is a collective investment scheme that can issue and redeem shares at any time. An investor will generally purchase shares in the fund directly from the fund itself, rather than from the existing shareholders. The term contrasts with a closed-end fund, which typically issues at the outset all the shares that it will issue, with such shares usually thereafter being tradable among investors.
Open-ended funds are available in most developed countries, but
the terminology and operating rules vary. US mutual funds, UK unit trusts and OEICs, European SICAVs, and hedge funds are all examples of open-ended funds.
The price at which shares in an open-ended fund are issued or can be redeemed will vary in proportion to the net asset value of the fund and so directly reflects its performance.

[Malcolmdof]

An open-end fund is a type of mutual fund that continuously issues and redeems units or shares based on the net asset value (NAV), which changes daily. Investors can buy or sell shares directly from the fund at the end of each trading day at the NAV price. There is no limit to the number of shares the fund can issue, hence the name open-end. This makes the fund highly liquid, allowing investors to easily enter or exit. Open-end funds may invest in a variety of asset classes such as stocks, bonds, or other securities.