Classified by fundraising methods: private equity fund, Public Offering of Fund.

Classification by open mode: open-end funds and closed-end funds.

According to whether it can be traded in the secondary market, it can be divided into on-site funds and off-site funds.

Next, I will introduce some concepts you asked.

Private placement fund refers to a fund raised privately or directly from a specific group. There is usually a relatively high investment threshold. For example, at present, most private equity funds in China have a minimum investment amount, which is usually higher than 654.38+100,000 yuan.

Private equity funds are basically closed-end funds. Private equity funds cannot be traded in the secondary market.

Public Offering of Fund, the counterpart of private equity fund, is a fund raised from the public. The threshold of Public Offering of Fund is very low, and some can invest a few hundred dollars.

Among the publicly issued funds, there are some open-end funds and some closed-end funds. Some publicly issued funds can be traded in the secondary market.

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 issued fund shares or shares 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.

On-site funds refer to funds that can be traded in the secondary market. On-site funds include closed-end funds, LOF funds and ETF funds. LOF fund and ETF fund are both open-end funds.