Funds can generally be divided into 2 types.
The fund can create new shares with relative ease, making this status suitable if the fund's assets are expected to continue to grow. In open-end funds, share prices are regularly determined on the basis of the net asset value or adjusted net asset value.
These funds can only increase the number of outstanding shares by issuing new shares. With a stock exchange listing, the stock price depends on supply and demand on the stock exchange. This means that the price can be above or below the net asset value.
