a) Compare how investors buy and sell shares of an open-end…

а) Cоmpаre hоw investоrs buy аnd sell shares of an open-end fund with how they buy and sell shares of a closed-end fund. Include the relevant pricing rule for each.b) Explain why an open-end fund may hold cash or liquid money market assets and how this cash position can affect returns in a sharply rising market and in a sharply falling market.c) An investor is primarily concerned about being able to convert fund shares into cash at a value tied directly to the portfolio's net asset value. Which structure is generally more suitable, and why?