If the investor converts Fund A into Fund B before 3: 00 pm on the same day, then the income of that day will be counted as Fund A, and the next trading day will be counted as Fund B. ..

If an investor converts Fund A into Fund B after 3 pm on the same day, the income of that day and the income of the next trading day are counted as Fund A, and the income of the next trading day is counted as Fund B. Therefore, if the fund is converted before 3 pm on the same day, there will be income the next day.

The relationship between open-end funds and closed-end funds;

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

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.

Before 2004, open-end funds were not listed and traded on the stock exchange, but were generally purchased and redeemed through consignment agencies such as banks or direct selling centers. After 2004, China innovated the operation mode of open-end funds, allowing some open-end funds to be listed and traded on the stock exchange.

This kind of open-end fund is called listed open-end fund (LOF). The scale of the fund is not fixed, and the fund unit can sell it to investors at any time or buy it back at the request of investors.

Above content reference: Baidu Encyclopedia-Fund