For funds with hot subscription, if the subscription amount exceeds the raised amount, the subscription application will be confirmed in proportion. In other words, the amount invested by each investor can only be partially closed.
For example, the upper limit of Fund A is 65.438 billion yuan. If the raised funds are 5 billion yuan, the confirmation ratio is 654.38+00/50 = 20%. Assuming that the amount of fund A subscribed by investors is 654.38+10,000 yuan, the confirmed amount is 654.38+10,000 x 20% = 20,000 yuan, and the remaining 80,000 yuan will be returned after the fundraising period.