Lof is a listed open-end fund. Different from ordinary open-end funds, investors can purchase and redeem fund shares at designated outlets, or buy and sell funds on exchanges. The full English name of lof Fund is "Listened Open-Ended Fund". The total amount of LOF funds is not fixed, and the fund shares can be purchased and exchanged at the time and place agreed in the fund contract.

There is no absolute difference between the on-site and off-site subscription methods of LOF. It is only because the buying and selling price of the secondary market depends not only on its net share, but also on the relationship between market supply and demand. Therefore, there will be a discount/premium phenomenon in the trading price of LOF funds in the secondary market, and there is arbitrage space.

If investors want to sell the fund shares purchased at designated outlets online, they must go through certain transfer custody procedures; Similarly, if you want to redeem the fund shares you bought online on the exchange and redeem them at designated outlets, you must also go through certain transfer custody procedures.

Lof Fund divides risk into two levels. Grading Class A has low risk, similar to fixed income products, and can get certain income every year. Grading B is equivalent to borrowing A's money to invest in high-risk stock products, which is more risky with leverage.