2. Fund conversion refers to a business model in which investors can directly convert their fund shares into those of other open-end funds managed by the company after holding any open-end fund issued by the company, without redeeming the fund shares they hold before purchasing the target fund. Investors can handle fund conversion in any sales organization, sell the transferred fund and transfer it to the target fund at the same time. The two converted funds must be managed by the same fund manager represented by the seller and registered in the same registration institution.
Redemption, also known as repurchase, is aimed at open-end funds. Investors directly or through an agency request the fund management company to withdraw part or all of the investment from the fund and remit the repurchase money to the investor's account. People usually refer to funds mainly as securities investment funds.