A closed end account (CEF) is a widely traded investment vehicle that spends in a variety of securities, such as shares or stocks and ties or fixed income. I think it's protected to say that anyone wondering this kind of question understands absolutely zero about the stockmarket until they understand what it's exactly about shouldn't Financial planning perhaps think about obtaining shares. Unfortunately using the approach the media shows buying stocks, beginners often come away feeling that frequent trading is the best (and solely?) method to generate income in the market.
If you need to have your money designed for a rainy day that you don't want ventures that have a longtime to profit or whose value changes a lot (because you might have to sell it when it's not worth very much). Broadly speaking the more risk you're prepared to take with your money the bigger return you must be prepared to create. Even though we are born with these characteristics, it's usually needed we spending some time, effort and income to keep or to increase them - thereby, increasing human capital.
That risk (that the expense won't pay what you anticipate, and might actually not provide you with your hard earned money back) is named an industry risk. But additionally, there are your own personal pitfalls - on what you need the amount of money for these depend. Meaning you must consider carefully in what you're investing for and likely consider about how better to manage your personal risks guidance.