Question 1
An open-end investment company
◦ is involved in all trades of its shares.
◦ sells shares at a discounted NAV price.
◦ trades like a stock on the exchanges.
◦ has a set number of shares.
Question 2
Investors in hedge funds have the legal status of
◦ shareholders.
◦ limited partners.
◦ general partners.
◦ trustees.