  We discuss coherent and incoherent $\phi$ meson photoproduction off the
deuteron at low energy and small momentum transfer with the aim to check
whether the recent experimental data need for their interpretation the
inclusion of exotic channels. Our analysis of the differential cross section
and spin-density matrix elements shows that the existing data may be understood
on the base of conventional dynamics. For a firm conclusion about a possible
manifestation of exotic channels one has to improve the resolution of the data
with providing additional information on channels with spin- and double-spin
flip transitions being sensitive to the properties of the photoproduction
amplitude in $\gamma p$ and $\gamma D$ reactions.
