Closed-end funds are traded in the stock market. They can only be bought and sold, not redeemed. The purchase method is the same as buying stocks. The code of Shanghai Stock Exchange is 500XXX, and the code of Shenzhen Stock Exchange is 18XXXX.

Open-end funds should be bought from banks or large securities companies and can be redeemed without participating in market transactions.

Open-end funds can be divided into stock funds, index funds and money funds according to their investment direction. Equity funds may have high returns, but the risks are also high. The return of money fund is slightly higher than the regular interest, and the risk is low. You can choose according to your financial situation and risk tolerance.

You can learn more in Baidu Finance Network Fund Channel.

For reference, good luck!