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Funds 409: Chasing Closing Funds

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1.
What does the "closed" in "closed funds" mean?
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It is not accepting new investors. Closed funds are those that are barring new investors.
2.
With regard to funds that are closing, it's best to _______.
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Buy a fund after it reopens. Reopening is often a sign that an asset class is being overlooked.
3.
When a closed fund reopens, it might be a sign to investors that _______.
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An asset class is being overlooked and is worth a second look.
4.
A fund might decide to close because it has become too large, asset-wise.
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True. Excessive assets may force the fund managers to try a change in strategy.
5.
Declining tax efficiency in a closed fund is attributable to _______.
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The closing itself.