The strategic placement fund is closed for three years and cannot be redeemed, but it is open once every six months and can be purchased and redeemed during the opening period.

After a three-year closure period, strategic placement funds can be traded in the secondary market. Generally speaking, in the initial stage of listing, the holders will sell a large number of funds in their hands, leading to the risk of fund discount. Investors must consider the liquidity and risks of financial products. The greater the risk, the worse the liquidity and the higher the expected return.