Open-end funds are not listed and traded, but can be directly sold by fund companies; You can also entrust an agency of a fund company, such as a commercial bank or a securities business department; You can also purchase and redeem online through the website of the fund company, and the fee can be discounted. Its scale is not fixed, and the fund unit can sell it to investors at any time or buy it back at the request of investors.

The special open-end fund is LOF, which is called "listed open-end fund" or "open-end fund" in English and "listed open-end fund" in Chinese. In other words, after the issuance of listed open-end funds, investors can purchase and redeem fund shares at designated outlets, or buy and sell funds on exchanges.

Extended data

In reality, the restriction on the redemption of open-end funds is mainly the restriction on the huge redemption. According to the provisions of the Pilot Measures for Open-end Securities Investment Funds, when the net redemption application of an open-end fund exceeds 10% of the total fund share, it will be regarded as a huge redemption.

When a huge redemption application occurs, the fund manager can postpone the remaining redemption applications on the premise that the redemption ratio accepted on that day is not less than 10% of the total fund share. In other words, the fund manager can give redemption according to the situation, or refuse this part of redemption, and the rejected part can be postponed to the next open day, and the redemption amount can be calculated according to the net asset value of the fund on this open day.

Of course, when there is a huge redemption and payment is delayed, the fund manager should inform the fund investors by mail, fax or other means specified in the prospectus within the time limit, explain the relevant handling methods, and make an announcement in the designated media and other relevant media. The longest notice and announcement time shall not exceed three securities trading days.

Baidu Encyclopedia-Open Fund