Only when the fund is newly issued or according to the needs of fund operation can it be closed in accordance with the regulations. The Measures for the Operation and Management of Securities Investment Funds clearly stipulates that the closure period of new funds 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. It can't be redeemed normally during the closed period, but it can be redeemed after opening.

Closed period is one of the four periods that a fund must go through from raising to investing. Generally speaking, it is aimed at open-end funds. After the capital verification expires, the fund will be closed. During the closed period, the Fund neither accepts the subscription of fund shares nor the redemption request of fund shares. As for the length of the closure period, different fund products may have certain differences. As short as ten days to a month, as long as three months or even half a year. As for the specific closure period, there will be a clear agreement in the fund contract.