An open-ended management company manages open-ended funds such as open-ended mutual funds and exchange-traded funds (ETFs).
open mutual investment funds are not traded on stock exchanges; The open-ended management company is responsible for allocating and repurchasing all shares of open-ended mutual funds offered on the market.
ETFs offered by public management companies also do not have a set number of shares offered, which means that public management companies can issue and redeem shares at their discretion.
Open funds and ETFs have a lot in common; both are pooled funds providing economies of scale in management and operations.
Closed-end funds differ from open-ended funds in that they have a set number of shares available and are valued throughout the day at their market price, rather than once a day at their net asset value like open-ended funds.