The new fund raising period ends and enters a closed period. 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. During this period, investors can neither buy nor sell fund shares.

Judging from the reality, many funds are open for subscription in the later period of the closed period, that is to say, at this stage, investors can subscribe for funds according to the net asset value of the funds, but they cannot redeem their fund shares.

2, the time is different:

According to the Securities Investment Fund Law, the closed period of the fund shall not exceed 3 months. 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 daily net share of the open-end fund.

3. Different interest rates:

After the closure period expires, there are two ways to deal with it. One is to turn into an open-end fund and redeem it after confirming the right. The other is the direct liquidation of the fund, which is calculated according to the net assets (net value) of the fund. Relatively speaking, it is more favorable for investors to switch to open-end funds.

However, some closed-end funds allow investors to redeem in advance during the closed period, but it is very uneconomical for investors to pay a high redemption fee. Whether to support early redemption depends on the transaction contract.

Baidu encyclopedia-closed-end fund