Fixed investment will not lose 0% of the principal. Generally speaking, the worst case is liquidation. After the liquidation, the fund shares held by investors will be converted into cash according to the net value before liquidation and returned to investors after deducting the liquidation expenses. When the net value of the fund falls to 0.3 yuan, it can be liquidated. In addition, when the fund meets the following conditions, it will be liquidated:

1. Closed-end fund expires. Closed-end funds generally have a duration, and they will be liquidated if they do not extend their duration after expiration.

2. Open-end funds meet the liquidation conditions. Open-end funds that meet the following conditions will be liquidated: first, the net value of the fund is less than 50 million for 20 consecutive working days, and second, the number of fund holders is less than 200 for 20 consecutive working days.

3. The scale of new fund raising is not up to standard. At the time of initial public offering, the minimum scale is generally 50 million. If it fails to reach the scale, it means that the fund has failed to issue and needs liquidation.