|Basis of Difference||Open-ended Mutual Fund||Closed-ended Mutual Fund|
|Objective||To earn relatively higher returns than|
|To replicate the performance of the|
index the ETF tracks
|Meaning||Available for subscription and|
repurchase on a continuous basis on all
|Available for subscription only during a|
specified period on their launch
|Investment||Anytime, remain open on all working days|
|Either at the time of their launch or|
they can buy or sell the units of these
schemes on the stock exchanges where the
units are listed
|Transaction||Transactions are possible with Mutual|
|Transactions are possible with Mutual|
Fund House (on predefined dates) or
anytime with a stock exchange where the
units are listed
|Unit price||Net Asset Value (NAV)|
|Quoted price, which may not be same as|
|Redemption date||No predetermined date of redemption|
|Predetermined date of redemption - fixed|
|Yes, generally ranging from 3-7 years|
|Brokerage||No, if transacted directly|
|Yes, if transacted through a stock|
|Demat Account||Not required|
|Mandatory, if transacted through a|
2017 January 26 is a bank holiday in Andaman And Nicobar Island due to Republic Day.
2017 February 01 is a bank holiday in Andaman And Nicobar Island due to Saraswati Puja (Shree Panchami)/Basant Panchami.
2017 February 10 is a bank holiday in Chandigarh due to Guru Ravidas's Birthday.
2017 February 15 is a bank holiday in Manipur due to Lui Ngai-Niw.
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