1 is the collection period of private equity funds. The raising period of private equity funds is generally 1-3 months. During this period, private equity investors raise funds from specific investors, and investors can only buy fund shares at this stage, but cannot sell them. The purchase price is the net value of shares (1 yuan). 2. At the end of the recruitment period, it will enter the closed period. The closing period of private equity funds is generally 6 months to 1 year. At this point, the fund contract has come into effect. However, during the closed period, the Fund does not accept investors' requests to purchase or redeem fund shares, and investors can neither buy nor sell fund shares during this period. 3. At the end of the closed period, the fund can accept subscription and redemption at the same time, and enter the normal subscription and redemption period. Investors can subscribe and redeem the fund according to the net fund share. The purchase and redemption time of private equity funds is completely determined by private equity companies, and the corresponding private equity companies need to be consulted. In addition, after the private equity fund is raised, it can continue to purchase, and investors can purchase according to the fund's opening date. The difference between fund raising period, closed period and duration The so-called fund raising period refers to the period from the announcement of the fund prospectus to the establishment of the fund, which can actually be said to be the issuance period of the fund. During this period, the fund company will sell the fund through direct sales, consignment agencies or banks. During the fund raising period, investors can only buy funds, which is also called fund subscription. The price for investors to subscribe for the fund is calculated according to the net fund share (i.e. 1 yuan). There will be certain restrictions on the number of subscription shares of the fund. If the number of shares is reached in advance, the fund raising period can be ended in advance, and the fund cannot be confirmed if it exceeds the quota. If the scale of raising does not reach the scale stated in the pre-announcement, the fund cannot be established. The fund-raising period is generally 1 to 3 months. At the end of the fund raising period, it will enter the closed period of the fund. During the closed period of the Fund, investors cannot purchase and redeem the Fund. In the later period of fund closure, the fund subscription is generally opened first, and the investment cannot be realized immediately. The fund closure period is generally not more than three months. After the fund closure period, investors can buy and sell funds normally, that is, the duration of the fund. At this time, the fund subscription is called the fund subscription, and the fund price is different from the fund subscription, which is calculated according to the closing price of the day. The duration of closed-end funds is at least 5 years, generally 10- 15 years. Closed-end funds can be extended after expiration. As long as the fund holders recognize the operation of the fund, the duration of the open-end fund can last for a long time.