The so-called closed period means that the fund cannot purchase and redeem during the closed period. This is to ensure the smooth opening of the fund at the initial stage.

The operation of the fund is the business secret of each fund, but the operation of the fund will be written into the monthly report, which will only be reported to the CSRC and will not be disclosed to the public. If investors want to know the fund's actions, they can only read quarterly, semi-annual and annual reports. (It's time to disclose the report for the first quarter of 2007) You can go to the websites of fund companies and some financial websites, and you can also look at the Shanghai Stock Exchange, china securities journal and Securities Times.

Closed-end funds are all listed funds.

Ordinary open-end funds are not listed, only LOF and ETF funds are listed and traded. Funds can only be listed on Shenzhen Stock Exchange, which basically starts with 162.

In other words, funds can be simply divided into closed, open, LOF and ETF.