：
1. Any closed-end fund will not be redeemed easily. If closed-end funds are allowed to withdraw early when signing contracts, then investors can withdraw early. If the things signed in the contract cannot be withdrawn in advance, then the funds cannot be withdrawn during the closed period. After the closure period expires, there are two ways to deal with it. One is to turn into an open-end fund and redeem it after confirming the right. The other is the direct liquidation of the fund, calculated according to the net assets of the fund. After the fund raising period, it will enter a closed period, mainly to provide a relatively stable opening process for the fund. Closed-end funds will no longer accept new subscription requests during the closed period, and can only be redeemed after a new round of opening.
2. During the closed period, the subscription and redemption of closed-end funds are closed. Funds within the closed period can only be redeemed after the expiration of the closed period, and investors cannot redeem fund shares from the issuing fund institutions. At present, closed-end funds cannot be opened before the deadline, nor can they be redeemed in advance. If the foundation is traded in the market, it can transfer its share to the market and sell it. According to the standard of investment market, if you want to sell the fund in advance, you need to sell it through a unified trading platform, that is, the stock exchange. Generally speaking, closed-end funds cannot be redeemed in advance, but it does not affect the transactions of the exchange. If investors want to handle closed-end fund transactions, they need to open their own securities and stock accounts for closed-end fund transactions in the secondary market.
3. According to whether the fund unit can be increased or redeemed, it can be divided into open-end funds and closed-end funds. According to different organizational forms, it can be divided into corporate funds and contractual funds. A fund is established by issuing fund shares to establish an investment fund company, which is usually called a corporate fund; The establishment of fund managers, fund custodians and investors through fund contracts is usually called contractual funds. At present, China's securities investment funds are all contractual funds. According to the difference of investment risk and income, it can be divided into growth fund, income fund and balanced fund. According to different investment objects, it can be divided into stock funds, bond funds, money market funds and futures funds.