The fund lock-up period is aimed at your newly purchased fund share. It will be locked from the subscription opening day, and can be unlocked after the expiration, and then you can choose to redeem it on the subsequent opening day. Generally, the lock-up period of shares ranges from 6 months, 1 year, 2 years and 3 years, and some funds have no lock-up period directly, which makes them more flexible. The closed period of the fund refers to the need to open positions after the establishment of the new fund, so set a closed period for the fund. During the closing period, the fund is closed and cannot be redeemed. The closure period generally ranges from 3 months, half a year, 1 year, but some funds do not directly set the closure period.
The closed period is usually only used for newly established funds, while the locked period is for investors to buy fund shares, which is suitable for new and old funds. Because newly established foundations generally pay more attention to the closed period, old funds generally pass the closed period, so most fund shares cannot be redeemed when locked in the locked period.