Open-Ended Investment Company - OEIC

A mutual fund. The kind with a daily NAV, whose value is calculated by adding up all of the stocks, bonds, cash, and whatever other assets...maybe a few private investments regularly value-assessed. It’s open-ended because money comes in and goes out as new buyers buy shares of the fund, and old buyers sell. It is “open” to new money.

The opposite? BRK. Arguably the most famous and successful fund in history, Berkshire Hathaway is a closed-end fund. All of the assets of BRK are inside of the stock ticker. Warren Buffett doesn’t raise cash and distribute cash on a daily or really any set basis. Think of a closed-end investment company as just being a stock with a bunch of assets inside of it which get traded around like a lonely, horny doofus on a reality TV show.