A newly issued fund generally has a closed period, and the closed period of each fund varies with different fund types. The so-called fund closure period refers to the time when the fund manager cannot accept the subscription, redemption and other businesses within the time limit stipulated in the fund contract and prospectus at the initial stage of the establishment of an open-end fund.

Closed period is a period that open-end funds must go through, which can provide a relatively stable opening process for funds. After the closure period, the new fund will enter the subscription period, at which time it can be bought and sold freely.

The closure period of the new fund shall not exceed 3 months. As for the specific time of the closure period, it depends on the manager's comprehensive consideration of the market, the speed of opening positions and the initial scale. At present, the closure period of newly issued funds is relatively short, and the subscription/redemption will be opened in ten days at the earliest.

It is worth noting that the length of the fund's closed period is not directly related to the fund's income, so the length of the closed period is not a reference standard for selecting fund products.