An Open-End Fund is a type of investment fund that allows investors to buy and sell shares directly from the fund at any time. Unlike closed-end funds, which have a fixed number of shares, open-end funds continuously issue new shares and redeem existing ones based on investor demand. This means the fund's total assets can fluctuate as investors enter or exit. These funds typically invest in a diversified portfolio of assets, such as stocks or bonds, and are managed by professional fund managers. Investors can purchase shares at the fund's net asset value (NAV), which is calculated at the end of each trading day, reflecting the total value of the fund's holdings.