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