Open-End Management Company

A company that distributes and redeems securities it issues. The most common open-end management companies are mutual fund companies which sell and redeem shares at the net asset value per share.

Investopedia Says:
This is just a fancy legal name for a mutual fund. An investor in an open-end fund essentially pools his/her money with other investors in order to attain economies of scale, professional management, etc.

This differs from a closed-end fund which has a limited number of shares available. Unlike with open-end funds, an investor in a closed-end fund typically sells his/her shares on the open market to another investor instead of back to the fund company.

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Investment Company that sells Mutual Funds to the public. The term arises from the fact that the firm continually creates new shares on demand, although an open-end fund may close itself to new investors when its management decides that it is too large. Mutual fund shareholders buy the shares at Net Asset Value and can redeem them at any time at the prevailing market price, which may be higher or lower than the price at which the investor bought. The shareholder's funds are invested in stocks, bonds, or money market instruments, depending on the type of mutual fund company. The opposite of an open-end management company is a Closed-End Management Company, which issues a limited number of shares, which are then traded on a stock exchange. See also Exchange-Traded Funds.

One that issues new shares and stands ready to buy shares back at net asset value. There is usually no restriction on the amount of money that can be invested in a fund although management companies may decide at some point that the fund has gotten too large and may stop issuing new shares. The fact that there are no fixed number of shares outstanding distinguishes open-end funds from Closed-End Mutual Funds. See also Mutual Fund.