Closed-end fund-to put it bluntly, it is a fund with a closed period (at least a few years) and a fixed fund size. At the end of the raising period, after the closed-end fund is established, it will no longer accept new subscriptions and cannot be redeemed, so the fund size remains unchanged. What if someone wants to buy or sell? Go to the secondary market (stock market) to trade!

In the secondary market transactions, the buying and selling of funds and stocks are the same. All transactions are conducted among investors, and fund companies do not participate. In other words, you buy fund shares from other investors, and if you don't want them, you sell them to other investors. To be clear, if no investor wants to sell his fund share, you can't buy it; If no investors want to buy fund shares, your fund will not be sold, although the probability of this situation is very small.

LOF is an open-end fund, and its scale is not fixed. The difference from the general open-end fund is that it can be traded in banks and other consignment agencies and the stock market like closed-end funds.

ETF fund-open-end fund, the fund size is not fixed. The difference with general open-end funds is that they can only be traded in the stock market like closed-end funds.

Summary: 1. These three funds have one thing in common: they can all be traded in the stock market.

2. The scale of closed-end funds is fixed.

3. The scale of 3.LOF and ETF funds is not fixed.

4. In addition to trading in the stock market, LOF funds can also trade in banks and other agencies.