The establishment of the fund is divided into three periods: raising, closing and surviving, and there will be different changes in different stages. Some newcomers don't know much about the three terms, which are arranged as follows for reference only.

What are the new rules for fund public offering? What does the duration of the fund mean?

Closed period of public offering fund:

At the end of the fund raising period, it will enter the closed period of the fund. During the closed period of the Fund, investors cannot purchase and redeem the Fund. In the later period of fund closure, the fund subscription is generally opened first, and the investment cannot be realized immediately. The fund closure period is generally not more than three months.

After the fund closure period, investors can buy and sell funds normally, that is, the duration of the fund. At this time, the fund subscription is called the fund subscription, and the fund price is different from the fund subscription, which is calculated according to the closing price of the day.

The duration of closed-end funds is at least 5 years, generally 10- 15 years. Closed-end funds can be extended after expiration. As long as the fund holders recognize the operation of the fund, the duration of the open-end fund can last for a long time.

Is there an expected annualized expected return in the closed period?

The closed period may have expected annualized expected returns, and the situation of different funds is different. For money funds and bond funds, the expected annualized expected return is definitely there, but due to the opening period, it is generally expected that the annualized expected return will be relatively low. For equity funds, it's hard to say. If the stock market falls during the opening period, it is not the expected annualized expected return. Maybe after the liquidation period, the net value will be lower than 1 yuan, which is actually a loss.

Generally speaking, subscription funds generally have no advantage (at most, the handling fee is lower). Ordinary investors had better choose some old funds with good performance.

What about closed-end losses?

There is no better way for the time being, because the fund can't be redeemed during the closed period and can only endure the loss of the fund's net value. Fortunately, the decline of the fund is only a temporary phenomenon, and the long-term upward trend has not changed. If we are optimistic about the long-term investment value of the fund, adopting the fixed investment strategy can relatively spread the investment cost and benefit from the long-term upward trend.

It's not good to catch up with the listing. If the level of fund companies is poor, they will fall like stocks and there is nothing they can do. Investment is risky, so be cautious when entering the market.