The reasons why the fund should be closed: on the one hand, the subscription fund should be closed, which is convenient for the fund background (registration center) to make the best preparation for future subscription and redemption; On the other hand, the fund manager can complete the preliminary investment arrangement according to the situation of the securities market.

The fund closure period refers to the period when investors do not accept the application for fund share redemption after the fund successfully raises enough funds to declare the fund contract effective. According to the Measures for the Administration of the Operation of Securities Investment Funds, the closed period of the funds shall not exceed 3 months.

Extended data:

The process from raising funds to investing in open-end funds is divided into four periods: raising period, capital verification period, closing period and normal subscription and redemption period. During these four periods, investors bought and sold fund shares in different ways.

During this period, the fund management company sells funds to investors through the company's direct selling agencies or banks and other consignment agencies to raise funds. At this stage, investors can only buy fund shares and cannot sell them. The subscription price is the net value of shares (1 yuan), and the cost of purchasing fund shares is called subscription fee.

Baidu encyclopedia-fund closure period