1. LOF fund is called "listened open-ended fund" in English and "Listed Open-Ended Fund" in Chinese. That is to say, after the issuance of listed open-end funds, investors can purchase and redeem fund shares at designated outlets or buy and sell the funds on the exchange.

2. Open-end funds are traded at unknown prices over the counter. When the transaction is confirmed on T+1 day, the subscribed share can only be redeemed on T+2 days, and the redeemed amount can only be set aside from the fund company on T+3 days. It needs to be transferred by custodian banks and affiliates, and investors can only receive the redemption money on T+7 days at the latest.

LOF has increased the on-site trading of open-end funds. The purchased fund shares can be sold on T+1 day, and the funds sold can be used on the same day with reference to the settlement method of securities trading, and cash can be withdrawn on T+1 day.

3. The funds obtained from the fund shares sold by LOF Fund can buy other stocks on the same day.