Word: belower
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Despite warm temperatures over the weekend, which weakened the ice, temperatures are expected to drop back below freezing by the end of the week.
As a result, open-end funds trade at full value, while closed-end funds can also trade above or below the asset value.
But closed-end funds tend to trade below the asset value, called a discount. Many analysts say this situation is due to fees paid to fund managers that drain value from the fund.