Capped fund,

Definition of Capped fund:

1. Capped funds have maximum levels of expenses or holdings associated with the fund’s management. Fund companies can have broad latitude for adjusting expense levels and holdings caps.

2. A capped fund is a fund with specified maximum limitations included in its investing or expense structure.

3. A type of investment that puts a limit on the amount of administrative fees that can be charged during the life of the investment.