Changsha Evening News, December 6th (all-media reporter Shu Yuanzhen) Do you know enough about the funds you hold?

I believe that many investors "will be a little guilty in their hearts" in the face of this problem.

Recently, China Universal and many other fund companies' funds have issued an announcement, announcing the corresponding restrictions on the restricted open period of the fund, and some investors "will not be able to redeem it."

Industry insiders remind investors to read the fund contract carefully to understand the relevant details and restrictions when applying for funds.

  Many funds announce restricted opening period restrictions

  China Universal Fortune Longtianli Regularly Opens Bonds on the 6th and 7th, ushering in the 10th restricted open period since the fund's operation on the 6th and 7th. It handles daily purchase and redemption business. It will enter the closed period on the 8th. Subscriptions will not be accepted during the closed period. , Redemption application.

  The reporter learned that, unlike most funds, the fund operates in a regular open manner, that is, the fund operates in a combination of operating cycles and free and open periods.

During this restricted open period, the fund will control the net redemption amount to ensure that the net redemption amount during the restricted open period accounts for 0% of the total fund shares on the day before the restricted open period.

If the proportion of net redemptions during the restricted open period exceeds the above-mentioned proportion, the subscription applications will be fully confirmed, and the redemption applications will be partially confirmed according to the proportion of all subscription applications to all redemption applications.

It is worth noting that, in addition to the aforementioned announcement by China Universal Fund, other funds under Bosera, Wells Fargo, and Invesco Great Wall Fund have recently issued similar announcements.

  The reporter combed and found that there are currently more than 30 such funds in the market, all of which have a restricted open period. The daily net redemption ratio during the restricted open period is generally set to 0 to 5%, 0 to 10%, and 0 to 15. %.

For example, China Post’s regular open bond products currently have 3 restricted open periods, each open for 1 working day, and 1 is a free and open day, and the open time is slightly longer.

  Can't redeem it?

The embarrassment of investor redemption

  "The restricted open day cannot exceed 10% of the fund's scale, and the excess is confirmed proportionally, and the holders can't redeem it!" Mr. Zou, who has been an investment fund for six or seven years, has been earning good returns, but he also has his own worries.

  "Currently, fund products generally appear in the form of products such as regular openings and open holding periods. There are not many products with restricted open periods. I really didn't pay attention to the fund contract at that time." Teacher Zou told reporters, because of the usual There are also many purchase products coming in and out. I didn't pay attention to the fund contract. After holding it, I discovered that there is a restriction on the redemption ratio during the restricted open period.

"Fortunately, although there is a restricted open period, the performance and ranking of this fund have always been good." Teacher Zou told reporters that the number of redemptions during the restricted open period is actually not much.

  Maintain fund stability and guide long-term investment

  Investors "cannot redeem", but fund companies have their own thinking.

"Although investors are not so happy when they redeem on restricted open days, the daily net redemption ratio during restricted open periods is generally set to a corresponding ratio, so that the total fund shares can be kept basically unchanged and other rules, thereby maintaining the fund The stability of scale also provides corresponding arrangements for some investors with liquidity needs, and will also guide investors’ long-term investment philosophy.” An industry insider told reporters that the current fund products that operate with restricted open periods are mainly pure bonds. Funds, fixed increase theme funds, etc.

  At the same time, reporters combed the views of market institutions and generally believed that the establishment of restricted open-period funds is conducive to the implementation of investment strategies, effectively avoiding the operation of adjusting asset allocation in exchange for short-term liquidity, protecting the relevant interests of existing investors, and Investors are reminded to read the fund contract carefully to understand the relevant details and restrictions when applying for funds.