The difference between the new fund and the ordinary fund is that the new fund refers to the fund that plays new shares with the new shares as the investment target when the new shares are issued. In other words, this fund can participate in new shares, and if it wins the lottery, the fund may rise. Moreover, ordinary funds do not necessarily participate in new shares, so there is no excess return after the listing of new shares.

Playing new funds can be seen on some sales platforms, such as Tian Tian Fund Network: In the fund data, you can see which funds have participated in new shares.