ETF: English full name Exchangetraded, that is, transactional open index fund. Transaction type: index funds that can be listed and traded on the exchange: index funds that track the target are passive funds according to the strategy. We are familiar with SSE 50, SZSE 100, CSI 300 index, etc. There is also a corresponding ETF fund behind it. Codes usually start with 5 10 and 159. In addition, another feature of ETF is that it is different from other funds in terms of subscription amount and redemption share. ETF adopts share purchase and share repurchase, that is, when purchasing ETF, all the shares designated by ETF must be converted into shares, and the corresponding shares will be obtained when repurchasing. If they want to change, they must be sold.
LOF: English full name is listed open-end fund, that is, transactional open-end fund. Similarly, it can be listed and traded, but unlike ETF, it can be purchased and redeemed off-site (such as online) or on-site (exchange).
FOF, the full name of funds in English, refers to funds that mainly invest in other funds. Recently, the initial public offering of FOF funds was recognized, which means that the development of FOF fund industry began to move towards the expressway. At present, the market is dominated by public offering FOF, and private offering FOF is rare. In addition, according to regulations, Public Offering of Fund must invest more than 80% of its fund assets in other funds.
Closed-end fund and open-end fund: they are separated according to the mode of operation. Closed-end funds, that is, fund contracts have a fixed term, while open-end funds have no fixed term. Most of the funds we buy online can be purchased and repurchased at any time, so they belong to open-end funds.
In addition, because of its openness, it can be purchased and repurchased at any time. The fund scale of open-end funds is usually not fixed, and the subscription and repurchase network changes with the market changes.