How to buy a money fund?
Money fund refers to a fund that mainly invests idle funds raised by the society in short-term securities in the money market. Its purchase methods mainly include the following:
1, subscription by fund company
Money funds can be purchased directly at the counter of the fund company or the securities business department.
2. Bank purchase
Money funds can be purchased through banks. After risk assessment, customers can purchase money funds through banks and money funds, mainly through bank counters, online banking, mobile banking APP and telephone banking.
Step 3 Buy a third-party platform
For example, Alipay, WeChat and so on. Both of them are platforms that we use more every day.
What are the trading rules?
As the Monetary Fund is an OTC fund, it should follow the trading rules of OTC funds, as follows:
1, transaction method
The trading system of T+ 1 shall be implemented. The trading day is calculated according to the net value at the close of the trading day (there is only one trading price every day), and the share is confirmed on the second trading day. Calculate the income after the share is confirmed, that is, buy on the trading day and confirm the share on the second trading day. Trading after 3 pm will be postponed for one trading day.
2. Trading time
Trading hours are from Monday to Friday at 9: 30 am-11:30, and in the afternoon 13:00- 15:00. Trading is not allowed on weekends and legal holidays. The specific trading hours may vary from exchange to exchange, so it is recommended to trade according to the trading hours specified by the exchange.
3. Transaction costs
Money funds may charge certain fees such as management fees and custody fees, which will be deducted from the fund's net value.
What investors need to be reminded here is that there are money ETF funds in the market and T+0 trading mode is implemented.