This is easy to distinguish. Any fund with ETF or LOF in its name can be traded in the secondary market, which can realize what you said: buy today and sell tomorrow (T+ 1).
Fund transactions in the non-secondary market, whether subscription, subscription or redemption, are conducted between investors and fund companies, that is to say, buying is to subscribe or buy fund shares from fund companies, and redemption is to recover fund shares from fund companies. Therefore, whether it is subscription or redemption, it must be confirmed by the fund company for 2-3 days. It is impossible to buy it today and sell it tomorrow.
In the secondary market transactions, the buying and selling of funds and stocks are the same. All transactions are conducted among investors, and fund companies do not participate. In other words, you buy fund shares from other investors, and if you don't want them, you sell them to other investors. To be clear, if no investor wants to sell his fund share, you can't buy it; If no investors want to buy fund shares, your fund will not be sold, although the probability of this situation is very small. So it is possible to buy today and sell tomorrow in this way.
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