If it is a traditional open-end fund, it usually needs to be closed for a period of time after the sale, during which you can do nothing. This is the closed period of open-end funds. After this time, the fund will be opened normally, and you can purchase or redeem it.

In addition, in addition to the traditional open-end funds, there are many innovative funds, which are essentially open-end funds, but when they are sold, they will be closed for several years and then converted into some kind of open-end funds. Moreover, it is generally closed in recent years, and it will be listed in the secondary market. If you don't want to hold it, you can sell it directly, which is a bit like a closed-end fund. That is, during this closed period, you can only buy and sell, and you can't apply for redemption. The total value of fund shares remains unchanged.