This is stipulated in 1997 Interim Measures for the Administration of Securities Investment Funds. That's not a special case of closed-end funds, and open-end funds are similar. However, the Trial Measures for Open-end Funds later stipulated that the prospectus of funds should be followed, so there are few open-end funds now, but foreign funds (similar to domestic open-end funds) have similar provisions. "Fund income includes: dividends, bonuses, bond interest, price difference between buying and selling securities, deposit interest and other income. The cost or expense saved by using the fund assets shall be included in the income. The net income of the fund is the balance of the fund income after deducting the expenses that can be deducted from the fund income according to the relevant provisions of the state. " Fund investment losses in the current year, no income distribution; That is to use 90% of the investment retained earnings to pay dividends (like stocks, you can pay dividends in cash or convert capital reserve into share capital); Generally speaking, there are two ways of fund dividend: cash dividend and dividend reinvestment. The reinvestment method is to reinvest the investor's share in the fund and convert it into a corresponding number of fund shares. In order to encourage investors to reinvest, many funds often charge lower fees or waive subscription rates for dividend reinvestment. For long-term investment, it is recommended to choose the way of dividend reinvestment (the reason can be tax-free, and cash dividends are subject to tax and stamp duty). Personal knowledge is limited, you can check the relevant securities laws and regulations. I'm just a hobby. I'll check it for you and learn whatever you want!