Open-end fund refers to an investment fund whose scale is not fixed, but which can issue new shares or be redeemed by investors at any time according to market supply and demand. Closed-end fund is relative to open-end fund, which refers to the investment fund whose fund size has been determined before issuance and remains unchanged within the specified period after issuance.

Closed-end funds have a fixed duration, and the fund size is fixed during the duration. Generally listed on the stock exchange, investors buy and sell fund shares through the secondary market. Closed-end funds are not allowed to accept new shares and withdraw shares for a period of time before the new round of opening. When opening up, you can decide how much to propose or invest, and newcomers can also buy shares at this time. Generally, the opening time is 1 week and the closing time is 1 year.

Open-end funds and closed-end funds are isomorphic, forming two basic modes of fund operation.

Extended data:

Open-end funds include general open-end funds and special open-end funds. 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.

Closed-end fund is relative to open-end fund, which refers to the investment fund whose fund size has been determined before issuance and remains unchanged within the specified period after issuance.

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