A fund closed for three years may lose money. There are two reasons for the loss of closed-end funds:

1. During the closed-end fund period, the profit and loss of the fund manager's investment is one of the factors that determine the fund's loss;

2. The market price when the closed-end fund is sold is also one of the factors that determine the fund's loss. After the fund is listed and traded, many investors will sell the fund in their hands, which is likely to lead to the discount of the fund. Generally, you can choose to sell the fund on the day of listing and trading. If the fund falls, you can wait a few days before selling it, or you can not sell it, as the case may be.