What is the difference between initial subscription and daily subscription of open end fund(kai fang shi ji jin shou ci ren gou yu ri chang ren gou you he bu tong )

The initial subscription (IPO) of open-end fund refers to the subscription of investors in the first issue of open-end fund, which is similar to the initial issue of new shares. Investors subscribe for the fund within a specified period of time. After the subscription, the fund enters a three-month closed period, that is, the fund cannot be redeemed within three months; Three months later, the fund entered the open period, and investors began daily subscription and redemption. Unlike the first subscription, the daily subscription can be redeemed the next day. In addition, the initial subscription fee is different from the daily subscription fee.

Chinese PinYin : Kai Fang Shi Ji Jin Shou Ci Ren Gou Yu Ri Chang Ren Gou You He Bu Tong