A friend asked, in closed-end funds, I found that the fund name has a small tail, which is divided into "N-year fixed investment and opening" and "N-year holding period". What's the difference between these two types of funds? Bian Xiao sorted out the differences between fixed-term funds and holding-term funds here for your reference. I hope you get something from reading!

The difference between fixed-term funds and holding-term funds

The term "regular open" fund literally means "regular open"-only the subscription and redemption business is open within the specified time, and we can only trade during this open period, and we can't trade at other times.

Fixed open-end fund is a special closed-end fund that came out in 20 12, which can be said to be a combination of open-end and closed-end characteristics.

During the closed period of 3 months, 6 months, 1 year, 2 years and 3 years, investors can only see the performance and cannot purchase or redeem fund shares;

After the closure period, there will be a period of opening. The general opening period is about 5-20 working days (there will be a specific opening time announcement before each fixed investment fund is opened). During the opening period, investors can freely apply for redemption;

After the opening period, it will enter the next round of closure period, and so on. The cumulative operation time in the name of the fund is n years.

The "holding period" fund refers to the limited time that needs to be "held" in the name of the fund, and can only be redeemed after the expiration of n years. However, there are no restrictions on subscriptions. As long as the fund is open to subscription, it can continue to buy, but it must hold the corresponding period after buying.

We know that ordinary open-end funds can be redeemed freely after subscription, while holding funds can only be redeemed after the holding period expires. The holding funds are mainly hybrid funds, and the holding period is long and short, generally between 3 months and 5 years.

Comparison between fixed-term funds and holding-term funds

Subscription: Ding Kai Fund can only be purchased during the open period, so you need to pay attention to the fund announcement to avoid missing investment opportunities. For example, the "three-year fixed-income fund" can only be bought during the opening period every three years, and cannot be bought at other times.

The "holding period" fund only limits the redemption time, not the subscription. If the fund's buying business is open, then we can buy at any time.

Redemption: both "fixed-term funds" and "holding-term funds" have redemption time limits-investors generally need to hold the funds for a certain period of time before they can redeem them. However, there are more redemption opportunities for N-year regular open-end funds, which can be redeemed after regular opening, while holding funds can only be redeemed after N-year expiration.

About the net value announcement: when the fund is closed for the first time, the net value will be announced once a week, and after the first closing period, the net value will be announced once every trading day.

Open application within 3 months after the establishment of the "holding period" fund.

Summary of two types of funds

1, both fixed-term funds and holding-term funds are aimed at the pain point of "the fund makes money, but the basic people don't make money", and implement a "lock-in period", which is very suitable for friends who can't control their hands and are easily affected by market fluctuations to invest and hand them over directly to the fund manager for decision.

2. In short, if you can't help chasing up and down with everyone, whether it is a fixed investment or a holding fund, you can passively become a "value investment and long-term".

3. Relatively speaking, fixed-term funds can only be redeemed in the open period, while holding-term funds can be purchased at any time because they have more time, which is a good choice for friends with fixed investment plans.

For subscription business, the net value is published once every trading day after the subscription business is opened, and it was published once a week before.

The difference between fixed-term funds and holding-term funds;

★ Understand the basic knowledge of the fund.

★ Investment Guide for Fund Market

★ Matters needing attention in private equity investment

★ The fluctuation rhythm of the stock market in each month of the year

★ Risk analysis of fund investment

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★ Advantages and disadvantages of stock dividends

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