Is it the lof fund? (LOF) What is the introductory knowledge of Shenzhen Stock Exchange trading? The following small series will tell you.
The significance of loft fund
Lof is an English abbreviation, which has the meanings of frame loss, listed open-end fund and LOF function. The full name of LOF Fund is "Listened Open-Ended Fund" in English and "ListedOpen-EndedFund" in Chinese. In other words, after the issuance of listed open-end funds, investors can purchase and redeem fund shares at designated outlets, or buy and sell funds on exchanges. However, if investors want to sell the fund shares purchased at designated outlets, they must go through certain transfer custody procedures; Similarly, if you want to redeem the fund shares you bought online on the exchange and redeem them at designated outlets, you must also go through certain transfer custody procedures.
Q: How to determine the stock code and abbreviation of open-end funds listed on Shenzhen Stock Exchange?
A: The compilation of securities codes and abbreviations of listed open-end funds follows the Rules for Compilation of Codes and Abbreviations of Open-end Funds of Shenzhen Stock Exchange. The fund codes are all composed of six Arabic numerals, the first two digits are marked with "16" or "15", the middle two digits are the code gg of the fund management company uniformly stipulated by the Information Center of China Securities Regulatory Commission, and the last two digits are the serial number xx of the open-end fund of the fund management company. Specifically expressed as "16ggxx". Fund abbreviation consists of four Chinese character strings or strings with a length of no more than four Chinese characters. The first two digits of the string must be Chinese characters, representing the name of the fund management company. The same fund code and abbreviation are used in both Shenzhen Stock Exchange and fund managers and their consignment agencies.
Q: How do investors open an account?
Answer: (1) To subscribe, buy or sell listed open-end funds through the trading system of Shenzhen Stock Exchange, investors must use Shenzhen A-share account or Shenzhen Securities Investment Fund account (hereinafter referred to as "Shenzhen Securities Account"). Investors can apply for opening a Shenzhen securities account through the account opening agency (such as a securities company) of China Clearing Shenzhen Branch. (2) Investors who subscribe, purchase or redeem listed open-end funds through fund managers or their consignment agencies must use Shenzhen open-end fund accounts. Investors can apply for registration of Shenzhen securities account as Shenzhen open-end fund account in the fund manager or its agency. If an investor does not have a Shenzhen securities account, he can apply to the fund manager or his agency for the allocation of Shenzhen securities investment fund account and automatically register it as an open-end fund account in Shenzhen. For the allotted account of Shenzhen Securities Investment Fund, investors can print the account card of Shenzhen Securities Investment Fund at the account opening agency of China Clearing Shenzhen Branch with the printed receipt of the account provided by the fund manager or its consignment agency.
Q: If investors have multiple Shenzhen securities accounts, what should they pay attention to when using the accounts?
A: Investors can have multiple securities accounts in Shenzhen, for example, holding 1 A-share account and 1 securities investment fund account at the same time; Or hold multiple A-share accounts at the same time. In this case, investors should pay attention to: (1) Only 1 Shenzhen securities accounts can be registered as Shenzhen open-end fund accounts, and multiple Shenzhen open-end fund accounts cannot be registered. (2) If investors choose to register with X securities account to generate 98X(X securities account number plus 98) open-end fund account, they can complete the transfer of listed open-end fund shares between X account and 98X account through cross-system transfer registration in the future, but other Shenzhen securities accounts and 98X accounts cannot transfer the above-mentioned fund shares. Therefore, in order to facilitate future operations, investors only need to choose 1 Shenzhen securities account to subscribe or buy listed open-end funds and register them as Shenzhen open-end fund accounts. For investors who allocate Shenzhen Securities Investment Fund accounts through fund managers or their consignment agencies, in order to facilitate the cross-system registration of fund shares in the future, it is best to subscribe and purchase listed open-end funds only by using the allocated Shenzhen Securities Investment Fund accounts.
Q: How do investors subscribe for the listed open-end fund during its raising period?
A: During the fundraising period of listed open-end funds, investors can subscribe in two ways: (1) On the trading day of Shenzhen Stock Exchange, investors can subscribe for fund shares online through the securities business department of a securities company qualified for fund consignment business. Irrevocable orders can be declared multiple times, and the subscription share declared each time must be an integer multiple of 65,438+0,000 or 65,438+0,000, and not more than 99,999,000 fund shares. (2) Investors can also use their Shenzhen open-end fund account opened in China Clearing Company to subscribe for fund shares through the business outlets of fund managers or banks and other consignment agencies (see the fund prospectus published by each fund manager for the specific list of consignment agencies), which is irrevocable and can be subscribed for multiple times.
Q: How to determine the subscription price and fees of listed open-end funds?
A: When a listed open-end fund is raised, the price subscribed through the fund manager and its agency is the same as that subscribed through the trading system of Shenzhen Stock Exchange. The following explains how to determine the subscription price and fees of the two selling channels respectively: (1) Investors who subscribe for funds through the trading system of Shenzhen Stock Exchange must subscribe by shares, that is, the subscription declaration of investors is based on shares. The listing price of Shenzhen Stock Exchange is 1 yuan, and the calculation formula of subscription amount and fees that investors need to pay is: subscription amount =( 1+ brokerage commission ratio) × subscription share; Brokerage commission = brokerage commission ratio × subscription share; Among them, brokers can set the commission ratio of investors' subscription according to the subscription rate agreed in the fund prospectus. Example: An investor subscribes for 654.38+00000 fund shares. Assuming that the commission ratio set by the brokerage firm is 654.38+0%, the subscription amount that the investor should pay and the commission charged by the brokerage firm are: subscription amount = (654.38+0+654.38+0%) × 654.38+00000 = 654. Brokerage commission =1%×10000 =100 yuan; (2) Investors who subscribe for funds through fund managers and their consignment agencies must subscribe according to the amount, that is, the investor's subscription declaration is in yuan. The fund is sold at the face value of 1 yuan, and the calculation formula of investor subscription fee and available subscription share is: subscription fee = subscription amount /( 1+ subscription rate) × subscription rate; Subscription share = subscription amount /( 1+ subscription rate); Among them, the subscription rate is agreed by the fund manager in the fund prospectus. Example: an investor invests 10000 yuan to subscribe for a fund. Assume that the subscription rate stipulated by the administrator is 1%, and its subscription fee and available subscription share are: subscription fee =10000/(1+1%) ×1%= 99. Subscription share =10000/(1+1%) = 9900.99 copies.
Q: After the raising period of listed open-end funds, how do investors trade?
A: After the fundraising period of listed open-end funds ends, investors have two trading methods: (1) After the funds are opened, investors can purchase and redeem the fund shares through the business outlets of the fund managers and their consignment agencies at the net value of the fund shares closed on the same day; (2) After the Fund is listed on the Shenzhen Stock Exchange, investors can buy and sell fund shares in the securities business department of the member units of the Shenzhen Stock Exchange through the trading system, and members' participation in the listed open-end fund transactions is not restricted by the qualifications of open-end fund consignment agencies.
Q: How to determine the first day of listing and the opening reference price of listed open-end funds?
A: The first day of listing of listed open-end funds is the first open day of the fund. The opening reference price of the fund on the first day of listing is the net value of the fund shares on the trading day before the first day of listing (rounded to the smallest price change unit).
Q: How to consult the listed open-end fund business?
A: You can inquire about or download relevant business rules and guidelines through the websites of Shenzhen Stock Exchange and China Clearing Company. You can also directly consult the relevant business departments of Shenzhen Stock Exchange and China Clearing Company. Business consultation telephone numbers are as follows: Shenzhen Stock Exchange Tel: 0755-259 18536, 25918537; China Clearing Company Tel: 0755-25938094; Service hotlines of Shenzhen Stock Exchange: 0755-82083227, 82083226 and 82083225.
Q: What fees do investors need to pay for trading listed open-end funds?
A: Investors need to pay trading commission to buy and sell listed open-end funds through the trading system of Shenzhen Stock Exchange. The collection standard of trading commission is the same as that of closed-end funds. Investors need to pay subscription fee and redemption fee to purchase and redeem listed open-end funds through fund managers or consignment agencies. The subscription and redemption rates shall be agreed by the fund manager in the fund prospectus.
Q: How do investors inquire about the net value of funds?
A: Investors can inquire about the net value of funds through the following channels: (1) On the trading day, Shenzhen Stock Exchange reveals the net value of fund shares provided by fund managers and 100 net value of fund shares through the market release system, and investors can inquire at corresponding points through the setting of various market analysis software. (2) The fund manager and its consignment agency disclose the net value of the fund shares of the previous trading day provided by the fund manager in their business premises, and investors can directly inquire at the business premises. In addition, investors can also check the net value of fund shares in the previous trading day through newspapers and periodicals designated by the CSRC and the website of fund managers.
Q: How do investors handle cross-system transfer custody of fund shares?
A: There are two situations for investors to handle cross-system custody of fund shares: (1) The listed open-end fund shares subscribed or bought by investors through the trading system of Shenzhen Stock Exchange can only be traded in Shenzhen Stock Exchange, and they cannot directly apply for redemption. If investors want to redeem the fund shares, they can first handle cross-system custody, transfer the fund shares to the fund manager or its consignment agency, and then redeem them through the business outlets of the fund manager or its consignment agency. Before handling cross-system transfer custody, investors should ensure that the Shenzhen securities account to be transferred out of the fund share has been registered in the Shenzhen open-end fund account with the fund manager or its consignment agency. Get in touch with the consignment agency to which the fund share is transferred, obtain the consignment agency code (6XXXXX), and complete relevant procedures (account registration or registration confirmation) to establish business relations according to the requirements of the consignment agency. After verifying the above matters, investors can go to the transferor's securities business department for cross-system custody transfer with valid identity documents and Shenzhen securities account card on normal trading days. Investors must fill in the application form for re-custody, indicating the code of the re-custody institution (6XXXXX), the number of the Shenzhen securities account, the code of the re-custody listed open-end fund and the re-custody number. (2) The shares of listed open-end funds subscribed and purchased by investors through fund managers and their consignment agencies can only be redeemed and cannot be sold through the trading system of Shenzhen Stock Exchange. If investors want to sell their fund shares through the trading system of Shenzhen Stock Exchange, they can first handle cross-system transfer custody, transfer the fund shares into the trading system of Shenzhen Stock Exchange, and then entrust the securities business department to sell them. Before handling cross-system transfer custody, investors must get in touch with the securities business department to which the fund shares are to be transferred and obtain the Shenzhen Stock Exchange seat number of the securities business department. On normal trading days, investors can bring valid identity documents and Shenzhen securities account card (Shenzhen securities account card used when registering open-end fund accounts is required because Shenzhen open-end fund accounts have computer records but no account card) to the transferor's agency for cross-system custody transfer. Investors must fill in the application form for re-custody, indicating the seat number of the securities business department to be transferred out, the account number of Shenzhen open-end fund, the code of listed open-end fund to be transferred out and the number of re-custody, in which the number of re-custody should be an integer. If the cross-system re-custody applied by investors on T day (trading day) is effectively declared, the listed open-end fund shares declared for re-custody will be received on T+2 day. In other words, investors can apply for redemption or declare the sale of fund shares from T+2.
Q: If investors have more than one Shenzhen securities account, what problems should they pay attention to when handling cross-system transfer custody of fund shares?
A: Cross-system transfer of fund shares is limited to Shenzhen securities accounts and Shenzhen open-end fund accounts registered based on them. Each investor can only register 1 Shenzhen open-end fund accounts. Therefore, if an investor owns more than one Shenzhen securities account, he can only transfer the fund share in the Shenzhen securities account that has registered the Shenzhen open-end fund account to the fund manager or its consignment agency for redemption; The fund shares of other Shenzhen securities accounts can only be sold through the trading system of Shenzhen Stock Exchange, and cannot be transferred to custody across systems.
Q: Under what circumstances can the fund shares held by investors not be transferred to custody across systems?
A: The following listed open-end fund shares held by investors are not allowed to handle cross-system transfer custody business: (1) listed open-end fund shares in fund raising period or closed period; (2) Shares of listed open-end funds from R-2 to R before equity distribution (R date is the equity registration date); (3) Share of listed open-end funds in pledge or frozen state.