Money funds and bond funds are relatively less risky, and hybrid funds and equity funds are closely related to the rise and fall of the stock market because of their relatively high proportion of investment in stocks.

When the stock market plummeted, the net value of common funds of hybrid funds and equity funds also fell, especially equity funds, which held no less than 60% of assets according to the provisions of the fund contract, and the decline was even greater.

Article 44 of the Measures for the Administration of the Operation of Securities Investment Funds stipulates that the net asset value of the fund is less than 50 million yuan for 60 consecutive days, or the number of fund share holders is less than 65,438+000 for 60 consecutive days.

The fund manager has the right to announce the termination of the fund after obtaining the approval of the China Securities Regulatory Commission. In case of any of the above-mentioned circumstances for 20 consecutive working days after the contract comes into effect, the fund manager shall explain the reasons to the China Securities Regulatory Commission.

Extended data:

Measures for the Administration of the Operation of Securities Investment Funds

Article 21 The fund contract of an open-end fund may stipulate that after the fund reaches a certain scale, the fund manager will no longer accept subscription and subscription applications, but it shall be stated in the prospectus.

The fund manager shall not adjust the fund scale agreed in the fund contract during the fund raising period. After the fund contract comes into effect, the fund manager can adjust the fund scale according to the actual situation in accordance with the provisions of the fund contract, but should announce and update the prospectus three days in advance.

Article 22 The fund contract of an open-end fund may limit the proportion or quantity of fund shares held by a single fund share holder, but it shall be specified in the prospectus.

Article 23 If the net redemption application of an open-end fund on a single open day exceeds 10% of the total fund share, it is a huge redemption.

When there is a huge redemption of an open-end fund, the redemption share handled by the fund manager on that day shall not be less than 10% of the total fund share, and the remaining redemption applications may be postponed.

Article 24 When there is a huge redemption of an open-end fund, the fund manager shall determine the redemption share handled by a single fund share holder on that day according to the proportion of the redemption share applied by the fund share holder to the total redemption share applied for that day.

Fund share holders can choose to cancel the unprocessed part of the day when applying for redemption. If the fund share holders do not choose to cancel, the fund manager can postpone the redemption of the issued shares to the next open day, and the redemption price is the price of the next open day.

Article 25 In case of huge redemption or delay in handling open-end funds, the fund manager shall notify the fund share holders by mail, fax or other means specified in the prospectus within three trading days, explaining the relevant handling methods, and make an announcement in designated newspapers and other relevant media.

Article 26 In case of continuous redemption of an open-end fund, the fund manager may suspend accepting redemption applications according to the provisions of the fund contract and prospectus; The accepted redemption application may postpone the payment of redemption money, but the extension period shall not exceed 20 working days, and it shall be announced in designated newspapers and other relevant media.

Article 27 The fund contract of an open-end fund may stipulate that if a single fund share holder applies for redemption of the fund share on a single open day, and the fund share exceeds a certain proportion of the total fund share, the fund manager may suspend accepting the redemption application or postpone payment according to the provisions of Article 26 of these Measures.

Baidu Encyclopedia-Measures for the Operation and Management of Securities Investment Funds