There are three situations in which the vault+fund cannot be fully redeemed:

1. Closed-end funds cannot be redeemed at one time;

2. The large redemption of open-end funds may be restricted and need to be redeemed many times;

3. During the suspension of subscription and redemption, the Fund cannot fully redeem the Fund.

It should be noted that the fund redemption fund is calculated according to the fund holding share and fund net value on the redemption date, but the fund redemption is carried out according to the principle of unknown price, that is, the fund net value on the redemption date has not been announced.