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Work the following problem.
Gross Return
The total return on an investment before any deductions are made for costs or expenses.
Managed Investment Companies
Firms that invest pooled funds from clients, taking on the responsibility of investment decisions and management for those funds.
Closed-end Funds
Investment funds that have a fixed number of shares which are not redeemable from the fund. Instead, the shares can be purchased or sold only in the market, at their current market price.
Unit Investment Trusts
An investment company offering a fixed portfolio of securities in a one-time public offering, with units redeemable on demand.
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