Closed period is one of the four periods that a fund must go through from raising to investing. Generally speaking, it is aimed at open-end funds. After the capital verification expires, the fund will be closed. During the closed period, the Fund neither accepts the subscription of fund shares nor the redemption request of fund shares. As for the length of the closure period, different fund products may have certain differences. As short as ten days to a month, as long as three months or even half a year. As for the specific closure period, there will be a clear agreement in the fund contract.
The so-called closed period, in short, is that the fund does not accept investors' applications for subscription or redemption during this period. During this period, investors cannot buy or sell fund shares. Closed period is a period that open-end funds must go through, which can provide a relatively stable opening process for funds. The Measures for the Operation and Management of Securities Investment Funds clearly stipulates that the closure period of new funds shall not exceed 3 months. As for the specific time of the closure period, it depends on the manager's comprehensive consideration of the market, the speed of opening positions and the initial scale. At present, the closure period of newly issued funds is relatively short, and the subscription/redemption will be opened in ten days at the earliest. It is worth noting that the length of the fund's closed period is not directly related to the fund's income, so the length of the closed period is not a reference standard for selecting fund products.