1. According to China's "Pilot Measures for Open-end Securities Investment Funds", the closed period after the establishment of open-end funds shall not exceed 3 months. If the closing period of the fund is too short, there will be a problem that the fund must deal with redemption before it has completed its layout, which will affect the net value of the fund and the rights and interests of investors. Therefore, the short closing period may be relatively risky, and the fund investment should be long-term, and investors should not choose the fund based on the length of the closing period.

2. Investors can't purchase and redeem LOF funds during the fund closure period, but they can transfer their LOF fund shares to Shenzhen Stock Exchange through cross-system transfer custody, and buy and sell LOF funds like A shares, which is convenient and fast. As for whether it is possible to trade on the Shenzhen Stock Exchange, it has nothing to do with the closing period. It depends on when the fund is listed. After the fund is listed on the Shenzhen Stock Exchange, investors can trade the fund shares on the exchange.