Hello fund successfully raised enough funds, and announced that the fund contract will be closed after it takes effect. During the closed period, investors cannot purchase and redeem fund shares. The purpose of the closed period is to protect investors and realize the smooth operation of the fund after its establishment. After the establishment of the new fund, it will take some time to gradually complete the initial layout of positions according to market conditions, which will also facilitate the fund manager to make full preparations for daily subscription and redemption. Therefore, fund contracts generally have a closed period. According to China's "Pilot Measures for Open-end Securities Investment Funds", the closed period after the establishment of open-end funds shall not exceed 3 months. For investors, fund investment should be long-term. Investors should not pay too much attention to the short-term closing time of the fund, but they should also make relevant liquidity arrangements for the fund.