1. Different investment targets: the fund invests by product type, and the proportion of investment in stocks or bonds must meet the legal requirements; However, financial management generally invests in money market instruments, and a small part invests in stocks.

2. Different handling fees: redemption fee is required when the fund is redeemed, and there is no redemption fee after the financial management expires.

3. The terminology is different. Open-end funds have no fixed term, and investors can apply for redemption flexibly, but financial management has a term, depending on how many days the contract is a product.

4. Redemption methods are different. On-site funds can be sold the next day after buying; OTC funds can be redeemed at any time; After the financial management expires, investors do not need to redeem it, and the principal and interest will automatically arrive.

5. Purchase channels are different. Because the CBRC stipulates that it is forbidden to sell bank wealth management products through three channels, at present, wealth management products can only be purchased in banks, while funds can be purchased in banks, brokers, securities companies, exchanges, fund companies and other channels.