1.180202 has a closure period of 5 years.

The scale of closed-end funds is fixed during the duration and cannot be redeemed. It can only be redeemed through trading. When the closed period expires, if it is converted to an open-end fund, it can be redeemed after confirmation of rights.

2. Closed-end funds refer to securities investment funds in which the total issuance amount and issuance period of the fund are determined when it is established. After the issuance is completed, the total issuance amount is fixed within the specified time.

Investors cannot redeem fund shares from the issuing institution during the duration of the fund, and fund shares must be liquidated through listing and trading on a securities exchange.

1. Closed funds have the following characteristics: The closed period is long, the number of issuances is fixed, and the holders cannot require the fund company to repay the money in advance.

The higher the discount rate, the greater the risk. According to domestic and foreign experience, it is a very common situation for closed-end fund transaction prices to have discounts.

The investment value of closed-end funds will be affected by the size of the discount.

Has a duration.

In China, this period cannot be less than five years.

The term of a closed-end fund is generally fifteen years.

After maturity, there are two ways to deal with it: one is liquidation, which is to return it to investors after deducting a certain fee from the net value of the fund; the second is to convert it to an open-end fund.

2. Closed-end Funds means that the sponsor of the fund limits the total amount of fund units to be issued when establishing the fund. After the total amount is raised, the fund is declared established and closed, and will no longer be issued within a certain period of time.

Accept new investments.

The circulation of fund units takes the form of listing on the stock exchange. Investors who want to buy or sell fund units in the future must conduct bidding transactions on the secondary market through securities brokers.

Closed-end funds are trust funds, which refer to funds whose total approved fund shares are fixed within the term of the fund contract. Fund shares can be traded on legally established stock exchanges, but fund holders are not allowed to apply for redemption.

The relationship between open-end funds and closed-end funds: Open-end funds and closed-end funds constitute the two basic modes of operation of funds.

Open-end funds refer to investment funds whose fund size is not fixed but can issue new shares or be redeemed by investors at any time based on market supply and demand.

Closed-end funds, relative to open-end funds, refer to investment funds whose fund size is determined before issuance and remains fixed after issuance and within a specified period.