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Is the fund locked?
I think what you're asking is whether the fund has a lock-up period of one and a half years or a loss. Why? Market factors.

If the fund lock-up period is too long, there are certain risks. When investors choose a fund with a long lock-up period, they should try to choose a fund with good historical performance and great development potential. When buying the fund, you should control its position reasonably and don't buy it all.

The lock-up period of this fund is one year, and investors cannot redeem or purchase this fund within one year. After the lock-up period, investors can purchase and redeem the fund. However, in order to expand the scale or meet the needs of market investors, some closed-end funds can open their subscriptions again during the lock-up period.