No, the fund won't lose a penny. As long as it is fund liquidation, look at the provisions of fund liquidation. Open-end funds generally do not stipulate their own duration, but in some cases, open-end funds can make liquidation decisions and end their existence through the liquidation and distribution of fund assets. Judging from the overseas situation, there are mainly the following situations in which open-end funds need to be liquidated: (1) According to the provisions of the fund contract or articles of association, the reasons for terminating trust deed's securities investment are in line with the provisions of trust deed's securities investment, except as otherwise stipulated by laws and regulations. (2) Resolutions passed by the holders' meeting or shareholders' meeting: If there are provisions in the UK, open-end funds can be liquidated by special resolutions. The liquidation of open-end funds in Hong Kong also needs the resolution of the holders' meeting. (3) The competent authority cancels the open-end fund license: ① According to the written application of the fund manager. According to British regulations, the authorized directors of fund managers apply to the Financial Services Authority (FSA) for cancellation of authorization, and with the consent of FSA, open-end funds can be liquidated. ② Inappropriate establishment or becoming inappropriate. According to Dutch regulations, the Ministry of Finance may revoke the license if it finds that the original application materials are wrong or incomplete or the application for establishment under the same conditions will be rejected due to changes in circumstances. ③ Fund managers and custodians no longer meet the statutory requirements. South Korea stipulates that trust deed can be abolished when the entrusting club (fund manager) is disqualified or dissolved, but it has not been handed over to the Minister of Finance. ④ Based on public welfare or beneficiary's interests. It is stipulated in Taiwan Province that it is appropriate to terminate the securities investment in trust deed based on public interests or the interests of beneficiaries, and the China Securities Regulatory Commission may order the termination.