There are very few cases in which old funds are retired. Refund of the old fund indicates that the old fund was unsuccessful. The subscription of the old fund was unsuccessful for the following reasons: 1. The product has not been purchased by investors during the opening period; 2, did not meet the requirements of product procurement; 3. The fund suspended trading.

There are many cases of new fund refunds, generally because the fund is too hot and the subscription amount exceeds the amount issued by the fund. At this time, it will be put in proportion, and the excess funds will be returned to the investor's account.