The idea was to first convert this small, open-end fund into a closed-end.

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The SuperTrust structure had share creation and redemption characteristics of an open-end fund and the trading flexibility of a stock.

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You can get exposure to junk countries via an open-end fund like Fidelity New Markets or an ETF like the iShares J.

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That's not as cheap as Vanguard Health Care, an equally high-flying open-end fund (up an identical 35% this year) that charges just 0.4%.

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When an open-end fund realizes a capital gain, that gain is "passed through" to fund shareholders, even if the security was bought 20 years ago and an investor bought into the fund only the week before.

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The four iShares index funds (see table below), issued by the Global Investors unit of Barclays (nyse: BCS - news - people ), sport a rock-bottom expense ratio of 0.15 versus open-end bond fund averages of around 1.00 and the 0.20 charged by low-cost leader Vanguard.

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To restore confidence after treating an initial IMF plan lightly in his budget speech, the president agreed to a tougher Fund deal that forces him to cut off privileges to his children and cronies, end monopolies and open the economy.

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