LOFs (LISTED OPEN-ENDED FUNDS) funds, is an open-end fund that can not only subscribe or redeem fund shares in the over-the-counter market at the same time, but also organically link the over-the-counter market and the on-market market through the share transfer custody mechanism. LOF refers to open-end securities investment funds issued, listed and traded on stock exchanges. Listed open-end funds can be issued, subscribed and centrally traded through stock exchanges, or subscribed, subscribed and redeemed through fund managers, banks and other agency agencies. That is, on the basis of maintaining the current open-end fund operation model, the channels for issuance and trading on the exchange are increased.
FOF (Fund of Funds) is a fund that specializes in investing in other securities investment funds. FoF does not directly invest in stocks or bonds, its investment scope is limited to other funds, and indirectly holds stocks, bonds and other securities assets by holding other securities investment funds. On the one hand, FoF bundles multiple funds together, and investing in FoF is equivalent to investing in multiple funds at the same time, but the cost is much lower than investing separately; On the other hand, unlike pure sales programs such as fund supermarkets and fund bundling, FoF completely adopts the legal form of the fund and operates according to the fund’s operating model; The FoF includes a long-term investment strategy in the fund market and, like other funds, is a financial instrument that can be invested for the long term. The advantages of FoF are: higher returns and compensation mechanisms.
Feeder funds refer to funds that invest most of their fund assets in ETFs (i.e., target ETFs) that track the same underlying index, closely track the performance of the underlying index, pursue the minimization of tracking deviation and tracking error, and adopt an open operation mode.