If the new fund invests in scarce targets, or is managed by a star fund manager, then investors can buy them during the raising period. If the fund invests in a scarce target or is not managed by a star fund manager, then investors may not buy it during the fundraising period.

The fund price is low during the raising period, but there are many uncertainties, such as: the new fund has a long opening period (generally about 6 months), and the market situation is difficult to predict when the fund goes public; Funds test the investment level of fund managers. If there is no past performance, it is difficult for investors to make reference.