The fund cannot be purchased during the closed period. The closed period of the fund refers to the closed operation of the fund, during which investors can't make any transactions, and only after the fund is opened can they purchase and redeem. Generally speaking, it is not recommended to buy a fund with a long closed period. Nothing can be done during the closure. If you want to purchase and redeem the fund, you need to wait until the fund is listed and traded or regularly open. Funds with long closed periods have poor liquidity. If investors want to buy, they must make a good capital plan of 1, and the term is too long.

In my opinion, there are too many places for young people to spend money. It is common to spend a lot of money on buying a house and a car. A sum of money closed for several years, there must be limitations. I once bought a three-year national debt, which will expire in more than half a year. As a result, it had to be redeemed in advance, and the yield was definitely not as good as expected.

For closed-end funds, if they want to be redeemed in advance, they can only be traded and transferred at the market price as in the stock market. Although there will be a net reference, it will be discounted.

2. The transaction is not flexible enough

Open-end funds can be redeemed almost at any time, and only need to pay a certain redemption fee. Closed-end funds can only be redeemed at maturity or transferred at a discount in advance, and can be traded in the stock market. However, compared with open-end funds, their transactions are not flexible enough.

3. Insufficient incentives for fund managers.

As mentioned above, closed-end funds have a fixed issuance scale and a long term, so fund managers can set their minds at ease without worrying about investors' redemption at any time, but this may have little incentive for fund managers. For open-end funds, fund managers should set aside some funds to deal with investors' redemption at any time, and the utilization rate of funds is poor, so they can only use limited funds to obtain higher returns as much as possible, so fund managers are more active and usually have better performance returns. The positions of closed-end funds are generally closed, and it is difficult to know the stocks and bonds held by the funds, which undoubtedly adds a lot of uncertainty to the fund investment. Generally speaking, it is not recommended to buy a fund with a long closed period. Nothing can be done during the closure. If you want to purchase and redeem the fund, you need to wait until the fund is listed or traded on a regular open day. Funds with long closed periods have poor liquidity. If investors want to buy, they must make a good capital plan.