Holding fund refers to the fund that continues to operate in the market, that is, the fund that is already in operation but still applies for a share in the market, that is, the open-end fund that has begun to invest and operate. Relatively speaking, the new fund means that the fund is in the collection period. If you buy at this stage, it is called subscription, and the net fund value is 1. After the fund raising is over and the position is opened, it can be redeemed. The process is generally 1~3 months. For example, Huitianfu's leading growth mix C in the subscription period is a new fund, while Huitianfu's selected growth mix C, which has been opened for trading, is a holding fund.