Fixed open fund, that is, a fund with regular open redemption time (some fixed-income funds also have fixed-income funds), can be understood as a new type of closed-end fund. The advantage of this kind of fund is that the manager can concentrate on implementing the operation strategy during the closed period, avoiding the influence of daily redemption on the fund share, which is more conducive to the asset allocation and position management of the manager. Judging from the past historical performance, most closed-end funds have achieved good results. According to the regulations of each fund, the redemption opening hours of fixed-term funds are generally 1 time/quarter, 1 time/year, 1 time/three years. Generally speaking, the longer the market is closed, the better its performance, which is equivalent to the manager helping the people to make medium and long-term investments, thus putting an end to short-term speculation in disguise. Gay friends with low risk preference can consider and choose to participate.

Compared with ordinary open-end funds, fixed-end funds have the following advantages: they are not affected by daily subscription or redemption, and can effectively avoid fund performance fluctuations caused by capital inflows and outflows; It is beneficial for fund managers to deleverage and strive to improve their performance without the interference of capital liquidity; There is no incremental capital in bear market, so as to avoid the dilution of income level by incremental capital; There is no large amount of money redemption in the bull market, and the income is more stable; Open the operation mode regularly, taking into account investors' requirements for liquidity, and preventing investors from falling into the dilemma of timing.