Yes, the initial fund has a closed period, usually three months (the closed period of each fund is different, depending on the fund). The closure period is the period when the fund stops operating and is temporarily closed. One is to set up an initial fund to prepare for the fund's future subscription and redemption, and the other is to set up a new fund for the fund manager to open an initial position.

After the initial fund was established, it entered the closed stage, and the net value of the fund was announced once a week during the closed period. If the fund manager opens a position, it will generate profit and loss.