Fund purchase is divided into subscription period and subscription period. The initial offering of fund shares is called fund raising, and the purchase of fund shares during fund raising is called fund subscription. After the end of the raising period, investors apply to buy fund shares, which is usually called fund subscription. Subscriptions during the fund-raising period will generally enjoy certain preferential rates. However, the funds purchased during the subscription period can only be redeemed after the closed period, and the purchased funds can be redeemed on the second working day.