Open-end fund, also known as * * * mutual fund, refers to a fund operation mode that fund sponsors can sell fund shares or shares to investors at any time according to their needs when setting up a fund, and can redeem the fund shares or shares issued externally at the request of investors.

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

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. Open-end funds include general open-end funds and special open-end funds. The special open-end fund is LOF, which is called "Listened Open-end Fund" or "open-endfunds" in English and "Listed Open-end Funds" 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.