LOF fund is a type of fund, the full name is listed open-end fund. After the issuance of this kind of fund, investors can not only buy and sell the fund on the exchange, but also can purchase and redeem the fund in the over-the-counter market.

Closed-end funds are a type of fund. They are closed-end funds with a fixed closing period. During the closing period, no transactions can be made. The liquidity is poor. Generally, they can only wait until the fund's regular opening day or the fund is listed for trading.

Subscription and redemption, if the closed-end fund is listed on the stock exchange, investors can transfer it on the stock exchange.