1. Withdrawal of funds refers to the extent to which the net account value decreases from the highest value to the lowest value in a certain period of time. Generally speaking, retracement is a decline, and fund retracement is a loss.

2. In the fund products, the "maximum withdrawal" is used to measure the anti-risk ability of a private equity company's products, that is, what is the biggest decline of this private equity fund in a certain period of time? If the biggest decline is far less than that of the Shanghai Composite Index or most similar private equity funds in the same period, it shows that the operating style of the private equity fund is relatively stable and its ability to resist risks is strong.