Open-ended funds sell their own new units to investors, stand ready to buy back their old units, and are sometimes listed on a stock exchange. Open-ended funds are so called because their capitalisation is not fixed, they issue more shares depending on how much investors want to invest (in the fund). In Malta, the words SICAV p.l.c. (a French acronym that stands for collective investment scheme with variable capital) which follows a name of a collective investment scheme denote that the fund is open ended.
