Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
open-end
adj. 1. Allowing for future changes or additions <open-end credit plan>. 2. Continuously issuing or redeeming shares on demand at the current net asset value <open-end investment company>. - Also termed open-ended.
open-end fund
A mutual fund that continually offers new shares and buys back existing shares on demand. ( An open-end fund will continue to grow as more shareholders invest because it does not have a fixed number of shares outstanding.
open-end mortgage
A mortgage that allows the mortgagor to borrow additional funds against the same property. Cf. closed-end mortgage.
open-end mortgage bond
A mortgage bond that can be used as security for another bond issue.