Closed-end firms are seen as a more conservative investment, but the long-term returns are generally lower.

Since shares are being continually bought and sold, the open-end firms appraise their shares twice daily. Examples: Keystone Custodian Bl (high grade) and B2 (medium grade), Bond Fund of Boston, Manhattan Bond Fund, Group Securities General Bond Fund.


The balanced fund is one that maintains a goodly portion of its resources in bonds and/or preferred stocks and places the remainder in common stocks. Examples: Eaton and Howard Balanced; Scudder, Stevens and Clark Balanced; Boston Fund; Wellington Fund.

The diversified common stock fund comprises the largest group in total membership. Examples: Axe-Houghton Stock Fund, Broad Street Investing Corp., Commonwealth Stock Fund, Loomis-Sayles Mutual Fund, Science and Nuclear Fund.

The shares of closed-end firms are usually common stocks, bought and sold through the stock exchanges or the over-the-counter market.

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