The smaller the closed fund size, the lower the net value of the fund. The fund size = net value * total share of the fund. The total share of the closed fund is fixed, and only the net value will change. When the net value rises, the fund size will increase, and when the net value falls, the fund size will decrease.

Closed-end funds refer to funds that operate in a closed way. Closed-end funds are closed after they are established, and no operation can be done during the closed period. If you want to purchase and redeem, you need to wait until the fund is listed and traded or regularly open.