1.   A traditional, or closed-end fund is priced according to its net asset value -- the per-share worth of all of the assets it holds.

2.   In a closed-end fund end fund, however, the number of investors is usually fixed and new shares are not issued.

3.   Many of those choices are closed end funds rather than open-ended funds.

4.   My general feeling is that when a market sours, a closed-end fund is likely to fall further than an open- end fund.

5.   Still, investors who believe in the underlying value of closed end funds can now pick up some bargains in the wreckage.

6.   Templeton Russia, run by Mark Mobius, is a closed end fund that began to trade in the U.S. last September.

7.   The fund, now an open-ended fund, will become a closed end fund late this year.

8.   The stock symbol of the Herzfeld Caribbean Basin Fund, a closed end fund trading on the Nasdaq Stock Market, is CUBA.