Brand model: iPhone13

System version: iOS15.0

App version: v10.2.53

Method steps:

1. Log in to your mobile Alipay account to enter my page, and then click on the total assets function on the page.

2. Then click the fund function in the total assets page.

3. After entering the fund page, select an OTC fund you want to invest in.

4. Select the fund and enter the asset details page of the fund. If you want to buy an OTC fund, you need to click the buy function in the lower right corner of the page.

5. After setting the amount to be purchased on the purchase page, click the OK function, and then pay the corresponding amount to successfully purchase the OTC fund.

6. If you want to sell OTC funds, set the fund shares to be sold, click the OK function, and then enter the transaction password to successfully sell OTC funds.

There are many ways to classify funds. According to the trading venue, they can be divided into on-exchange funds and over-the-counter funds.

What are the differences between OTC funds and on-exchange funds?

1. The trading venues of OTC funds and on-exchange funds are different. OTC funds refer to funds that are not listed and traded on the stock exchange. By opening an account with a bank, securities company, third-party financial management platform or fund company, you can conduct fund transactions such as subscription, subscription, redemption, fixed investment, and conversion. On-site fund trading requires opening an account at a stock exchange and conducting transactions through the securities company's trading software.

2. Transaction rates are different. The subscription (subscription) fee rate for OTC funds is generally between 0-1.5% depending on the investment objects. However, currently each platform fund subscription fee rate generally has different levels of discounts, which depends on the specific conditions of each platform. Also depending on the investment objects, the redemption rates of different types of funds are also different. Generally, the redemption rate is about 0.5% of the redemption amount. In order to encourage investors to hold the fund for a long time, the redemption fee usually decreases as the holding time increases. Generally, the redemption fee is waived if the holding time is more than 2 years.

3. The transaction objects are different. Funds traded on the exchange are generally exchange-traded open-end funds (ETF), listed open-end funds (LOF), closed-end funds, etc.; funds traded over-the-counter include most open-end funds (including LOF and ETF corresponding of open-end fund shares).

4. The transaction prices are different. On-site fund secondary market transactions are similar to stock transactions. Transactions are matched at real-time prices based on supply and demand. The prices are different at different trading times on the trading day. The price of OTC funds is fixed, and subscriptions and redemptions are made based on the net value of the fund on that day.

5. The arrival time is different. Generally speaking, funds on the exchange can be sold and redeemed within T+1 working days after being purchased (some varieties can be sold and redeemed on the same day). The funds are available on the same day and can be withdrawn the next day (working day). . OTC funds can usually be redeemed on the second working day after subscription, and the fund arrival time is generally T+1 to T+7 working days (including QDII funds).

6. Dividends are distributed in different ways. OTC fund dividends can be distributed in two ways: cash dividends and dividend reinvestment. The only way to distribute dividends from on-market funds is in cash, and the dividends cannot be reinvested.