Closed-end funds are not allowed to accept new shares and IPOs for a period of time before the new round of opening. When opening up, you can decide how much to bid or reinvest, and newcomers can also buy shares at this time. Generally, the opening time is 1 week and the closing time is 1 year.

How to redeem closed-end funds

Closed-end funds are different from open-end funds, because the total share is fixed, so there is no redemption when trading, and only matching transactions can be made. That is, people who want to buy buy funds from people who want to sell. Basically, they are all in a discounted state. When the closure expires, if it is converted into an open-end fund, it can be redeemed after confirmation.

You need to wait until the end of the closed period, or the closed fund will be redeemed automatically after liquidation, or the closed fund will be converted into an open fund, and the order will be redeemed manually.