基金的一种，发行的基金单位数目是固定的，通常在证券交易所挂牌交易。与开放式基金不同的是，封闭式基金不持续地创造和赎回基金单位。人们通常认为封闭式基金经理对利润的追逐动力不如开放式基金经理（因为开放式基金经理必须吸引和留住基金投资者），所以封闭式基金通常是按净资产值的一个折扣进行交易。

Type of fund that has a fixed number of shares usually listed on a major stock exchange. Unlike open-end mutual funds, closed end funds do not stand ready to issue and redeem shares on a continuous basis. Because the managers of closed-end funds are perceived to be less responsive to profit opportunities than open-end fund managers, who must attract and retain shareholders, closed-end fund shares often sell at a discount from net asset value.