The closed period of the fund means that the fund cannot be purchased or redeemed during the closed period, and can only be purchased or redeemed after the closed period.

During the subscription period of closed-end funds, investors can subscribe. After the subscription period, the fund company will confirm the interest generated by the funds during the fundraising period to investors in the form of shares.

It should be noted that during the closed period, the market fluctuates greatly, which will increase the risk of closed funds.