Such as subscription amount = number of subscribers ×( 1+ subscription premium rate )× unit net value.
If you subscribe, you can also use the above formula, but the unit net value in the formula is that the unit subscription price is always one yuan, and the subscription premium rate is mostly 1%. In addition, the share obtained should also consider the interest earned before opening.
So the number of subscriptions = subscription amount ÷ (1+ subscription premium rate) ÷ unit net value; The number of shares calculated by this formula is slightly higher than that of PHS predecessors, and this formula can be found in many fund prospectus.
The subscription amount of open-end funds actually includes two parts: subscription fee and net subscription amount. The subscription fee can be calculated according to a certain proportion of the subscription amount or the net subscription amount. The domestic practice is generally to multiply the total purchase price (including fees) by the applicable rate to calculate the purchase fee, and deduct it from the purchase amount. In this way, the calculation method of the fund share that can actually be bought by a subscription amount is as follows:
Subscription fee = subscription amount × applicable subscription rate
Net subscription amount = subscription amount-subscription fee
Subscription quantity = net subscription amount/net fund share value on the subscription day.
This calculation method is very common in overseas markets such as the United States. The advantage of this method is that the calculation is relatively simple when using the "unknown price method"; In addition, because the decreasing rate is generally used according to the increase of subscription amount, it can avoid the unfair phenomenon that investors who buy less may actually pay more than investors who buy more according to the net subscription amount.
Using this calculation method will make the applicable rate according to the net purchase amount slightly higher than the published rate. If investors want to know the applicable rate based on the net subscription amount, they only need to make a small conversion:
Rate applicable to the net subscription amount = Rate applicable to the subscription amount ÷( 1- Rate applicable to the subscription amount)
For example, if the applicable rate is 2% of the subscription amount, then:
The applicable rate calculated according to the net subscription amount = 2%⊙( 1-2%)= 2.04%.
Extended data
Matters needing attention
1. An investor who has opened a stock account may not open a fund account again, otherwise it will cause inconvenience or loss to his subscription and trading.
2. An investor can only open and use one capital account, and can only correspond to one stock account or capital account. It is not allowed to open and use one or more fund accounts to subscribe for multiple stock accounts or fund accounts.
3. Investors of the Shanghai Stock Exchange (who use the stock account or fund account of the Shanghai Stock Exchange) must go through the transaction procedures specified by the Shanghai Stock Exchange before purchasing.
4. After the investor completes the subscription entrustment, it is not allowed to withdraw the order.
Fund income is the part of fund assets that exceeds their own value in the process of operation. Specifically, fund income includes dividends, bonuses, bond interest, price difference between buying and selling securities, deposit interest and other income.