Funds affected by supply and demand are traded in the market, namely closed-end funds, ETF funds and LOF funds. Are traded in the secondary market. Like stocks, it is a real-time price comparison transaction. The share of trading income is in the hands of other investors, not a new distribution.

Generally, open-end funds are not listed and traded, and the transaction price is the true net asset value of the fund, not the price formed by the relationship between supply and demand. Buying is the newly allocated share of the fund company, selling is to sell back to the fund company, and there are no other investors as counterparties.

The real value of the unit fund is announced at 8: 00 pm every working day, which represents the value after the close of the day and is also the price. However, in floor trading, the price formed by the relationship between supply and demand can only be called price, and there will be a price difference between this price and value, that is, premium and discount.