A raising period, B closing period and C duration.

A the raising period is from the announcement of the prospectus to the establishment of the fund, that is, the issuing period of the fund. During this period, the fund company will sell the fund through direct sales, consignment agencies or banks. During this period, investors can only buy funds, which is called fund subscription. The price for investors to subscribe for the fund is calculated according to the net fund share (i.e. 1 yuan). There will be certain restrictions on the number of subscription shares of the fund. If the number of shares is reached in advance, the fund raising period can be ended in advance, and the fund cannot be confirmed if it exceeds the quota. If the scale of raising does not reach the scale stated in the pre-announcement, the fund cannot be established. The fund-raising period is generally 1 to 3 months.

B closed period: the fund raising period ends and the fund is closed. During the closed period of the Fund, investors cannot purchase and redeem the Fund. In the later period of fund closure, it is generally to open the fund subscription first, and it is impossible to realize the fund realization immediately. The fund closure period is generally not more than three months.

C duration: after the fund is closed, investors can buy and sell the fund normally, which 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.

I wonder if the above is useful to you?