After closed-end funds expire, there are generally two ways to deal with them: liquidation at maturity; Become an open-end fund (closed to open). Please consult the fund company for specific treatment. If it is liquidated at maturity, it is equivalent to automatic redemption; If it is an open-end fund, then investors can choose to keep it or redeem it.

Closed-end funds traded in the securities market are converted into open-end funds, which can be directly purchased and redeemed at net value.

Closed-end fund refers to a fund operation mode in which the fund share is fixed within the term of the fund contract, and the fund share can be traded on a legally established stock exchange, but the fund share holder may not apply for redemption.