_ What's the bill? -once established, it will enter the closed period. During the closed period, the size of the fund remains unchanged. Investors can't apply for redemption, but can only trade in the secondary market. The transaction cost is 0.5%, compared with the stock open-end fund.

_? 1.5% subscription fee and 0.5% redemption fee are much lower. Because closed-end funds have no redemption risk, fund managers don't have to pursue short-term interests like open-end funds, but can devote themselves to operation and make long-term value investments. At the same time, for closed-end funds that are about to expire at present,

_ Can you bear the shell, squat, drive, drive, drive?

_ Night? Closed-end funds are generally traded at a discount, and investors can use this discount for maturity arbitrage. For example, the discount rate of closed-end funds due before the end of 2007 is about 20% on average. Suppose an investor buys an open-end fund with a net value of 1 and a net value at the same time.

_? 1 yuan, a closed-end fund with a discount rate of 20%, is purchased and redeemed in an open-end fund according to its net value, so the investor's cost is 1 yuan, while for a closed-end fund, the investor's cost is only 0.8 yuan, and the investor will hold two funds due. Since closed-end funds were opened to the outside world,

_ Xing clamoring for a stool in the street? Assuming that the net value is not increased, the open-end fund is still redeemed at 1 yuan, and the investor's income is 0 yuan, while the closed-end fund is also redeemed at 1 yuan, and the investor's income is (1-0.8) /0.8=25%, which is due to the arbitrage income of the closed-end fund.

_ 镾镾镾镾镾镾镾镾镾镾镾镾镾镾镾镾镾

_ Crawl and chew, leave me alone, order me to squat, make me lovable, make me strong, allow me to be good, and let me play. I crawled and chewed, leaving me alone and going back to my hometown.