If the closed-end fund is liquidated after its maturity, it shall be calculated according to the net value on the day of liquidation; If it becomes an open-end fund, the redemption application shall be submitted before 15:00 on the trading day, and after 15:00, and calculated according to the net value of the next trading day.

Fund redemption refers to the behavior that the fund share holder asks the fund manager to buy back the fund share according to the conditions agreed in the fund contract during the existence of the fund. Most funds need to pay a certain redemption fee when redeeming, and the redemption fee is related to the fund type and the investor's holding period.