Open-end funds are also called * * * mutual funds abroad, which are isomorphic with closed-end funds and form two modes of fund operation. Open-end fund refers to a fund operation mode in which fund sponsors can sell fund shares or shares to investors at any time according to their needs, and can redeem the fund shares or shares issued at the request of investors when setting up the fund. Investors can purchase funds through fund sales agencies to increase the assets and scale of the fund accordingly, or they can sell their fund shares to the fund to recover cash and reduce the assets and scale of the fund accordingly.

Open-end fund is one of the basic forms of fund operation in the world. Fund management companies can sell new fund shares to investors at any time, and also need to buy back their fund shares at any time at the request of investors.

Closed-end fund refers to the fund sponsors' restrictions on the total amount of fund units when setting up funds. After the total amount of fundraising is completed, the fund is announced to be established and closed, and no new investment will be accepted for a certain period of time. The circulation of fund shares is listed on the stock exchange, and investors must bid on the secondary market through securities brokers in the future.

Closed-end funds belong to trust funds, which means that the fund scale has been determined before issuance, fixed within a specified period after issuance and traded in the securities market.

Monetary fund is an open-end fund. .

Monetary fund is an open-end fund that collects idle social funds, is operated by fund managers and kept by fund custodians. It specializes in investing in risk-free money market instruments, which is different from other types of open-end funds. It has the characteristics of high security, high liquidity, stable income and "quasi-savings". The assets of the Fund are mainly invested in short-term monetary instruments (generally within one year, with an average maturity of 120 days), such as government bonds, central bank bills, commercial bills, bank time deposit certificates, government short-term bonds, corporate bonds (with high credit rating), interbank deposits and other short-term securities.

In fact, the investment scope of these money market funds are all varieties with high safety factor and stable income, so for many enterprises and individuals who want to avoid the risks in the securities market, money market funds are a natural haven, which can not only obtain the income higher than the interest of bank deposits, but also ensure the safety of the principal.