The raising period refers to the fund issuance period, that is, from when to when the subscription (subscription) can be made. Closed period refers to the closed period of no more than 3 months after the establishment of the new fund, and it can also be opened in advance. There will be an announcement before the opening. After opening, the subscription or redemption business can be opened (open). Duration refers to the time that the fund continues to operate. For example, some funds stipulate a duration of five years. Then after the expiration of five years, if the fund stops investing, it will return the investor's money (according to the market value). Public Offering of Fund generally operates for a long time, and there is generally no concept of duration unless liquidation conditions occur.