The performance of the investment company will be based on (but it won't be identical to) the performance of the securities and other assets that the investment company owns.The federal securities laws categorize investment companies into three basic types: Each type has its own unique features.
Quotes were unobtainable either online or in most newspapers.
For example, mutual fund and UIT shares are "redeemable" (meaning that when investors want to sell their shares, they sell them back to the fund or trust, or to a broker acting for the fund or trust, at their approximate net asset value).
Closed-end fund shares, on the other hand, generally are not redeemable.
Indeed, investing in liquidations is sometimes despairingly referred to as cigar-butt investing, whereby an investor picks up someone else’s discard with a few puffs left on it and smokes it.
Needless to say, because other investors disparage and avoid them, corporate liquidations may be particularly attractive opportunities for value investors.
Companies in liquidation are the antithesis of the type of investment they want to make.