1. Subscription opening cycle: Private equity funds are open for subscription once a month/quarter/half year. If you want to subscribe to the fund in the current opening cycle, you need to reserve subscription before the closing day of fundraising.
2. Closing day of fundraising: The deadline for reserving subscription for the next opening cycle and also the day the subscription reservation becomes effective. It’s usually n trading days ahead of the subscription open day.
3. Subscription open day / value date: The day the subscription transaction is settled, e.g., the first working day of every month/quarter/half year, or a fixed day in every month, like the 7th of every month.
4. Redemption opening cycle: Private equity funds are open for redemption once a month/quarter/half year. If you want to redeem the fund in an opening cycle, you need to reserve redemption before the closing day of redemption reservation.
5. Closing day of redemption reservation: The deadline for reserving redemption for the next opening cycle and also the day the redemption reservation becomes effective. It’s usually n calendar days ahead of the redemption open day.
6. Redemption open day: The day the fund is redeemed, e.g., the last working day of every month/quarter/half year, or a fixed day in every month, like the 7th of every month. The cash you’ll receive is calculated at the fund’s NAV on the day.
7. Knock-out event: On any observation day, the underlying asset's closing price / opening price is greater than the knock-out barrier.
8. Maturity: For a product with a lock-in period, it reaches maturity when the lock-in period ends.