A closed-end investment fund is an autonomous patrimony managed by a management company with a single and exclusive object. It is made up of contributions of the participants through the purchase of participation shares in the Bolivian Stock Exchange and subject to the terms and conditions stipulated in the corresponding internal regulations of said fund. These participation shares are not directly redeemable by the Fund until the end of the life term of the same. It is said to be closed because the conditions under which Participants acquire their participation shares fees are kept unchanged until the end of the life of the Fund. Also, because once the placement period, or the term in which the public offer of the Participation Shares is in force is closed, there is no option that for the inclusion of other participants, unless they acquire shares in the secondary market. The regulations governing the closed-end investment funds and the companies that manage them are detailed in Chapter V of the Compilation of Standards for the Securities Market and supplementary and complementary rules.
What is a closed investment fund?
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