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Can the fund be subscribed at any time?
Generally speaking, open-end funds can be purchased at any time (except for special closed period), while pure open-end funds cannot be traded on the exchange. ETF LOFs are two other forms of open-end funds, which can be purchased and redeemed at any time and traded on the exchange.

After the closed-end fund enters the closed-end period, it cannot be re-subscribed, but it can be traded on the exchange.