The one-year lock-up period of the Fund refers to the closed period of 1 year after the establishment of the Fund, during which the Fund is not allowed to be redeemed or sold. The fund lock-up period generally occurs in newly issued stock funds, and its main purpose is to reduce the impact on the secondary market or protect the fair rights of other small and medium-sized investors, and restrict some investors from transferring shares of listed companies in the securities market within a certain period of time.

Open-end funds have a collection period when they are first issued. During the fundraising period, fund companies should open positions and make good investment preparations. This period is called closed period and locked period. You cannot subscribe during this period. After opening and closing, you can subscribe. After buying such funds, you must make a good plan for capital turnover, because investors can only redeem their own shares that have passed the lock-up period.

The fund lock-up period is calculated from the date of obtaining a single share. When the open-end fund was first issued, there was a raising period. During the fundraising period, fund companies have to open positions and make investment preparations, so there will be a fund lock-up period. Buying a fund with a lock-up period requires investors to have a good understanding and control of their investment needs and liquidity management.

Closed-end stock funds have a clear duration, during which fund shares can only be bought and sold in the secondary market and cannot be redeemed. The fund share remains unchanged. Sometimes, in order to avoid the influence of large subscription on net worth, or to suspend subscription for a long time, the foundation maintains the stability of fund performance.