1. Closed-end funds cannot be redeemed at any time, and all the raised funds can be used for investment, which is convenient for fund management companies to formulate long-term investment strategies and achieve long-term business performance.

2. When the closed-end fund is initiated, investors can subscribe to the fund management company or sales organization; When closed-end funds are listed and traded, investors can entrust brokers to buy and sell at market prices on the stock exchange.

3. Subscription fee. When buying and selling closed-end funds, like buying and selling listed stocks, a certain percentage of securities transaction tax and handling fee should be paid in addition to the price.

Closed-end fund discount rate ranking:

Because closed-end funds are traded by bidding in securities trading, the transaction price is affected by the relationship between market supply and demand, which does not necessarily reflect the fund's net asset value, that is, the transaction price of closed-end funds has a premium and discount phenomenon relative to its net asset value.

Closed-end funds belong to trust funds, which refer to investment funds whose scale has been determined before issuance, fixed within a specified period after issuance and traded in the securities market.