After the closed-end fund is raised, it cannot be redeemed before the maturity date, but it can be transferred in the market, that is, it can be bought and sold like a stock. The fundamental difference between the two is that they cannot be redeemed, that is, they cannot be converted into cash; Transferable, that is, it can be replaced with other covers. That is, before the fund expires, it can only be bought and sold with other investors and cannot be redeemed.

Make clear the difference between transfer and redemption first. Transfer, that is, buying and selling, with other investors, money to other investors, other investors give you his fund; Besides, the redemption was made by you and the fund management company. You give your money to the fund company, and the company will return it to you. For closed-end funds, they are redeemed only when they are due. The term of closed-end funds in China is 5 years-15 years. Before the fund expires, it can only be bought and sold with other investors and cannot be redeemed. It is doubtful whether 10 will be lower than 0.7 years later. It's possible. Open-end funds cannot be bought or sold (transferred). Can only be purchased and redeemed from fund companies. Generally, open-end funds have no maturity date. Buying means that you give money to the fund company, and the fund company gives you the fund.

Please advise if there are any shortcomings or problems!

Hehe, I hope I can satisfy you!