According to different organizational forms, it can be divided into corporate funds and contractual funds. A fund is established by issuing fund shares to establish an investment fund company, which is usually called a corporate fund. Here, Bian Xiao will share with you how long the REITs will be closed for your convenience.
How long will the reits fund be closed?
The closure period of reits funds is 20-99 years, which means that the closure period of reits funds is the shortest 20 years and the longest 99 years. As we all know, closed-end funds cannot be redeemed during the closed period, but reits funds can be sold during the closed period. Otherwise, if you hold a reits fund and wait until 90 years later to sell it, the holder doesn't know where it is.
After the reits fund subscription is completed, the holder can wait until the listing, which will take about two or three weeks. After listing, it can be sold like a stock. During the closed period, funds can be sold in the secondary market through brokers. Holders can find buyers who are willing to buy the fund in the secondary market. After the two sides negotiate the price, they can transfer their closed-end funds to others.
If you want to buy reits fund shares after the subscription period, you can only buy them through the secondary market. Fund shares subscribed by using OTC fund accounts shall be transferred to on-site securities institutions before they can participate in on-site transactions. It should be noted that reits funds cannot be redeemed according to their net value, because the net value of funds is based on the evaluation results of financial models, so the transaction price in the secondary market may be discounted compared with the net value.
How long will the reits fund be closed?
REITs funds are divided into on-site funds and off-site funds. The closure period of each type of fund is also different, as follows:
1. The on-site funds cannot be bought or sold at any time after subscription. There will be a closure period of about one month after subscription. After the closure period, they can trade and buy in the secondary market normally and freely at T+ 1 just like stocks.
2. OTC funds are closed-end funds with a closed period of not less than 20 years, and there is no way to trade normally. Only by transferring custody to the venue can transactions be made. But there will be a fixed dividend income every year.
That is to say, only the OTC funds that come to the closed period can be traded on the normal T+I day, and only the trading commission is charged, and stamp duty and transfer fees are not charged.
How long will the real estate investment trust be closed?
1, the closed period of reits refers to a period of time after the fund successfully raised enough funds to declare the fund contract effective, and investors do not accept the application for fund share redemption. On the one hand, the closure period is set to facilitate the fund backstage (registration center) to make the best preparation for future subscription and redemption;
2. On the other hand, fund managers can complete preliminary investment arrangements according to the situation of the securities market. According to the Measures for the Administration of the Operation of Securities Investment Funds, the closed period of the funds shall not exceed 3 months.
Related extension of fund closure period: fund raising period
3. After the fund raising period is over, the fund will be closed. During the closed period of the Fund, investors cannot purchase and redeem the Fund. In the later period of fund closure, the fund subscription is generally opened first, and the investment cannot be realized immediately. The fund closure period is generally not more than three months.
4. After the fund closed period, investors can buy and sell the fund normally, that is, the duration of the fund. At this time, the fund subscription is called the fund subscription, and the fund price is different from the fund subscription, which is calculated according to the closing price of the day. The duration of closed-end funds is at least 5 years, generally 10- 15 years. Closed-end funds can be extended after expiration. As long as the fund holders recognize the operation of the fund, the duration of the open-end fund can last for a long time.