Before the new fund goes public, in order to successfully raise enough funds, after the fund contract comes into effect, investors will not accept the application for fund share redemption for a period of time, which is also called the closed period. 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.

In addition, in Public Offering of Fund, some funds are closed, for example, some funds are open one day a week; Some funds are open on the last five trading days of a month. On non-open days, investors are still not allowed to purchase and redeem, and they need to wait until the open day to trade.

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What does it mean to publicly issue closed-end wealth management products?

Public offering of closed-end wealth management products refers to products that have a closed period and can only be redeemed after the closed period. Moreover, the product is publicly issued to unspecified social investors, with securities as the main investment object.

Most of the wealth management products offered to the public are in the form of funds, which are raised through mass communication. The promoters raise public funds to set up investment funds to invest in securities.