The consequences of taking the total active gravitational mass of the universe phasewise constant together with a decaying vacuum energy in the background of Robertson-Walker space-time are investigated. The model so determined admits a contracted Ricci-collineation along the fluid flow vectorνⁱ. It is geometrically closed but ever-expanding and does not possess the initial singularity, horizon, entropy, monopole or cosmological constant problems of the standard big bang cosmology. Estimates of the present matter; radiation and vacuum energy densities, the age of the universe and the present values of the deceleration parameter and the scale factor are also obtained.