Net asset value is most commonly used in the context of open-end funds.

The most common type, the open-end fund, must be willing to buy back shares from investors every business day.

By 1929, open-end funds accounted for only 5% of the industry's $27 billion in total assets.

However, as with open-end funds, investors normally receive a price that is close to net asset value.

That is not too different from how an open-end mutual fund works.

For those who prefer an open-end mutual fund, there are a multitude of options.

The easiest would be to convert to an open-end mutual fund.

The move came after three shareholder attempts to turn it into an open-end fund.

By contrast, open-end mutual funds are priced at net asset value.

Their attraction over open-end funds is higher yields, but not necessarily more risk.