Because there are "new" funds and "old" funds, just like people have old people and young people, there are also new and old funds. Buying a new fund is called subscription, and buying an old fund is called subscription.

The legal interpretation is:

Subscription refers to the behavior of investors buying fund shares during the establishment of the raising period.

Subscription refers to the purchase of fund shares from the fund manager after the fund is established.

Redemption refers to the act of fund investors selling fund shares to fund managers.

Generally speaking, the starting point of subscription and subscription is 1000 yuan. If the fund is bought by fixed investment after its establishment, it is possible to buy a fund of 100 yuan, depending on the starting point of fixed investment.

Subscription is obviously risky, and the prospectus of any fund will remind investors that it will not guarantee that it will not fall below the face value.