A graded fund divides a parent fund into two sub-funds, A and B. Fund A bears interest at a fixed interest rate and Fund B bears interest at base A, and then invests the money from base A in the stock market to obtain high returns. It is usually called a leveraged fund. For example, if you buy two parent funds, you can split them into a fund of 1 and a fund of 1. The net values of A and B are both 1 yuan. So judging from this year's bull market, the highest increase is the fastest, led by the graded B fund, and the brokerage with the highest rate of return is even close to 500% this year ... Then, from my explanation, you must understand that the graded fund is an artifact in the bull market. Then you must ask me, how can I marry Bai to the peak of my life with graded funds? First of all, explain the concepts of discount rate, premium rate, discount, discount and so on. Discount rate: it is the ratio of the transaction price in the secondary market to the net value of the fund. If it is positive, it means that the fund is currently sold at a discount, which is lower than its actual value, which is a bit like buying food in the vegetable market. If it is negative, it means that it is a premium, which is higher than its actual value. Premium rate: it can be inferred from the discount rate. Fold-up and fold-down: conversion refers to the mechanism that the net value of B-level shares falls to the threshold or the net value of parent fund shares is higher than the threshold. The net values of B-level, A-level and parent fund shares are all adjusted to 1 yuan. After adjustment, the number of all kinds of shares increases or decreases in proportion, while B-level and A-level shares are retained according to the initial proportion, and the remaining part after pairing will be converted into the on-site shares of the parent fund and distributed to the corresponding share holders. Simply put, the mechanism is that the net value belongs to 1, and the original profit of graded funds mainly has the following ways:

1. Simply buy graded fund B, and then sell it when it rises (simple violence). Graded fund b can only be bought in the securities market. If you want to get higher leverage and return in the bull market, you should choose higher leverage. Lever is divided into value lever and price lever. Here we choose a more comprehensive and comprehensive price lever, with a discount premium rate (please Baidu yourself if you don't understand), which can usually be found in ME Finance.

2. Buy graded fund A. At present, from the perspective of banks, the rate of return of graded fund A is usually around +3.5 per year, and the latest AVIC military industry A is even +5 points per year. The graded fund A has low risk and its income is much higher than that of bank time deposits, which is an artifact for cautious investors. In addition, in the recent bull market, some graded funds A are also of great investment value, because graded fund B is usually very popular in the bull market, but there are relatively few people holding A, so the discount rate of graded fund A is relatively high. Sometimes you can buy a good grade A with a discount rate of 10% or even 20. Even if the price of graded A funds continues to fall, there will be regular discounts every year. After regular discount, all discount premiums in the secondary market will be zero. At this time, you can get the high yield of the discounted part when buying. In addition, when the bull market turns to bear or the market is afraid of selling Grade B, Grade A can often get excess returns. For example, if you buy Securities A at a discount of 20%, and the premium of Securities B at that time is 30%, then when the market turns from bull to bear and people start to sell Securities B, the discount of Grade A you hold will disappear quickly because of the price drop of Securities B and the pairing conversion mechanism, thus obtaining excess returns. 3. Graded fund arbitrage, which is the most interesting way. Why can you arbitrage? First of all, because graded funds can be listed and traded, there will be premium rate and discount rate due to the relationship between supply and demand. When the overall premium rate and discount rate are high, there will be arbitrage space. For example, the transaction price of Grade A and Grade B in the market adds up to 2.2 yuan, but the price of the parent base is 1.83 yuan. Then at this time, you buy the parent fund through the on-site 1.83 yuan, and then split it into A-level and B-level in the on-site market to sell 2.2 yuan together. After deducting the subscription fee and transaction commission of the fund, the remaining premium is the income part. Of course, the risk of arbitrage is that the on-site subscription takes 2 days at the earliest to be sold. During this period, if the graded fund falls sharply, it may lead to losses. At present, Huatai Securities is T+ 65,438+0 for subscription confirmation and split, T+.