What is the difference between fund subscription and subscription?

Q: I am going to buy a fund today. The account manager of the bank recommends a fund product that is being released to me. He said that there are differences in the handling fees for fund purchase at different stages of fund issuance. He also said that I am confused about the subscription and subscription fees. Are you not buying both subscription and subscription? What is the difference?

A: Yes. fund purchases are divided into subscription and subscription periods. The fund shares for the first release of the Fund are called fund raising, and the purchase of the fund shares during the fund raising period is called the Fund subscription. After the fundraising period ends, investors apply for a fund share. If you subscribe within the fund raising period, you will generally enjoy a certain discount rate. For example, the subscription rate is 1 million, while the subscription rate is 1.0%. However, the Fund purchased during the subscription period can be redeemed only after the closed period, and the subscribed fund can be redeemed within the next working day.