The closed period of the fund is counted from the date of establishment. For example, a closed-end fund is issued on Monday, and the raising period is 1 trading day. Assuming that the fund has raised enough funds, the fund will be established on Tuesday, and the closure period will start from Tuesday.

When issuing a new fund, it will be announced to the public after raising enough funds, and it will enter a closed period after its establishment. Trading is not allowed during the closed period, and investors can only wait until the fund is listed or traded after the closed period.