Redemption, also known as buyback, is for open-end funds. Investors request the fund management company to withdraw part or all of the fund's investment directly or through an agency in their own name, and remit the buyback money to

within the investor’s account.

What people usually call funds mainly refers to securities investment funds.

If you apply to sell the fund units you hold at the published price and get the cash back, it is customarily called fund redemption.

The redemption of the fund is the sale.

Listed closed-end funds are sold in the same way as general stocks.

For open-end funds, you hold all or part of the fund and apply to sell it to the fund company to redeem your money.

The amount received from redemption is the number of units of the fund sold multiplied by the net value on the day of sale.

Subscription and redemption of the fund will begin no more than 3 months after the Fund Contract takes effect. The fund manager shall publish a notice on at least one designated media and the fund manager’s website 2 days before the specific date of starting the subscription and redemption.

Announcement on the website (hereinafter referred to as the "website").

Fund redemptions generally take two working days to be confirmed by the system and then cleared.

Fund subscription and redemption must be confirmed by the system on T+2 before the redemption can be said to be successful.

The general open-end fund redemption process is: unreported on T day, reported on T+1, completed on T+2.

Fund subscription and redemption must be confirmed by the system on T+2 before the redemption can be said to be successful.

It is normal for the order to be unquoted on the day of the order (T day). Even if the order is placed around 2:50, as long as there is a record found in the entrustment query, generally speaking, it will change to the second trading day (T+1 day).

Reported, it becomes completed on the third trading day (T+2).

Then it goes through liquidation.

Therefore, it usually takes about 4 working days for open-end funds to arrive.

Other overseas funds generally within 10 days.