At present, almost all fund companies have started regular fixed investment business. After a long period of repeated publicity, the fixed investment has been recognized and accepted by most people. Here is a brief introduction to all aspects of the fund's fixed investment, hoping to help investors.
1. What is fixed investment (hereinafter referred to as fixed investment)?
In addition to single subscription, the investment mode of the fund can also be fixed on a regular basis, that is, the same open-end fund can be subscribed for at a fixed amount on a fixed date (such as the 8th of each month). The cycle of fixed investment is generally once a month, and some fund companies can also invest once every two months or a quarter. For investors, it is better to invest on a monthly basis. The starting point of fixed investment of each fund company is slightly different, the lowest is 100 yuan, and most of them are in 200 yuan, which is an integer multiple of 100 yuan, and there is no upper limit. Fixed investment can be completed in the bank counter, online banking and fund company website, and an agreement can be signed to stipulate which fund, fixed investment period, subscription amount and date. On the agreed subscription date, the system will automatically deduct the agreed subscription amount from your bank card. If the amount on the card on the agreed deduction date is insufficient, some banks and fund companies stipulate that the deduction will be made from the next day to the end of the month, and the subscription share will be calculated according to the net value of the actual deduction date. Due to the insufficient balance on the card, the deduction was unsuccessful for three consecutive months, and the fixed investment was automatically terminated.
As an innovation of fixed investment, a number of fund companies and Industrial and Commercial Bank of China jointly launched "fixed investment based on intelligence" and implemented "fixed time quota". According to the fluctuation of the stock market the day before the agreed deduction date, the system automatically adjusts the investment amount within a certain range; If it goes up, it will go down, and if it goes down, it will go up, which embodies the principle of "buy low". Investors can apply for fixed investment at the correspondent bank counter after selecting the fund type, or sign a fixed investment agreement on the websites of online banking and fund companies to stipulate the deduction period, amount and fixed investment period. On the agreed date, the bank card will automatically deduct money. If the bank card balance is insufficient, resulting in unsuccessful deduction for three consecutive months (banks and fund companies have different regulations), the fixed investment will be automatically terminated.
2. Extreme fixed investment
As the improvement and innovation of fixed investment, many fund companies jointly launched "wisdom-based fixed investment" and implemented "unlimited fixed investment". Different from the fixed monthly fixed investment amount of the existing general funds, customers can determine the monthly fixed investment deduction amount when applying for the "subscription plan of fixed investment", and the actual monthly deduction amount will be finally determined according to the selected indexes, including Shanghai and Shenzhen 300, Shanghai Composite Index, Shanghai Stock Exchange 180, Shenzhen Stock Exchange Index, Shenzhen Stock Exchange 100 and Chaochao 300. According to the fluctuation of the stock market index on the day before the agreed deduction date, the system will automatically adjust the investment amount within a certain range; Go up, go up, go down, go up. When the stock market index is lower than the moving average of the index, increase the monthly deduction amount to obtain more fund shares; When the stock market index is higher than the index moving average, the monthly deduction amount will be reduced. This can reflect the principle of "buy low", further reduce the long-term investment cost, spread the investment risk evenly, and help to improve the return rate of fixed investment. According to professionals, during the period from 1998 to 10 in 2008, the average subscription cost of "regular fixed investment" was 1.28 yuan, which was lower than the average subscription cost of ordinary fixed investment 1.32 yuan. The cumulative rate of return of "regular and irregular" is always higher than that of ordinary fixed investment. It highlights the advantages of "fixed time quota" in dispersing purchase costs and improving yield.
3. Advantages of fixed investment
(1) Average cost spreads risks.
The key to the profit and loss of fund investment lies in the timing of buying (subscription), selling (redemption) and the choice of fund varieties. Comparatively speaking, timing is more important than variety, and it is much more difficult. The net value of the fund rises and falls with the rise and fall of the stock market, so it is particularly important to analyze the stock market outlook. It is difficult for ordinary investors to grasp the right investment opportunity, and they can only rely on the feelings of the supervisor and hearsay to decide the timing of entry and exit. It is often possible to buy at a high market point and sell at a low market point, making it difficult to obtain the expected return. However, the fixed investment mode of the fund is adopted. No matter how the market fluctuates, the fixed investment fund will be fixed for one day every month, and the bank will automatically deduct the money, and automatically calculate the number of fund shares that can be purchased according to the net value of the fund. In this way, investors buy funds on schedule, and the average long-term investment cost is relatively low, which plays a role in leveling costs and diversifying risks. Compared with single purchase, fixed investment is much less important to timing.
(2) Every little makes a mickle.
For the "moonlight family" and the wage earners who stay behind after removing the living expenses, the fixed investment is similar to the zero deposit and lump sum withdrawal, and has the function of "compulsory financial management". Less investment, accumulated over time, accumulated sand into a tower, and a considerable amount of assets will be accumulated in a few years. Invest regularly, every little makes a mickle. Investors may have some idle funds every once in a while, and unconsciously accumulate a lot of wealth through regular fixed investment.
(3) Automatic deduction with simple procedures.
Office workers are busy with work and have great competitive pressure, so they don't have enough time and energy for investment and financial management. Regular fixed investment can solve this problem. Only investors need to go through one-time procedures, and then automatically deduct each subscription. In contrast, if a single fund purchases, investors need to go through the formalities in person or online every time. Therefore, the fixed investment fund is also called "lazy financial management", which fully embodies its convenient characteristics.
4. The principle of fixed investment should be followed.
① Do what you can and reasonably determine the monthly investment. Fixed investment is a way of long-term investment in ancestral finance. It's not a question of how much you invest every month. The key is to insist on long-term investment and give full play to the advantages of fixed investment. Therefore, according to our own income and expenditure, we should objectively calculate the idle funds that can be saved every month and decide the reasonable investment quota. If you invest too much every month and can't stick to it for a long time, so that you need to redeem or even stop the fixed investment for several months, you can't play the wealth accumulation effect of the fixed investment. Generally speaking, the fixed investment will last for more than 3 years.
② Correct selection of fund varieties. The main advantages of fixed investment are that it eliminates the difficulty of grasping the purchase opportunity, shares the cost and disperses the risk. Because the money fund basically has no problem of buying time, the income is roughly fixed at the annualized rate of return of 1.8%, and it can be bought at any time without a fixed investment. Bond funds have little influence on the rise and fall of the stock market, so they should not be chosen as fixed investment funds. The net value of stock-based and hybrid funds fluctuates greatly with the rise and fall of the stock market, which can better spread costs and risks and is suitable for fixed investment. In the choice of fund varieties, we should not only pay attention to collocation, but also pay attention to single subscription. This is because the fixed investment can reduce the risk, but it can't eliminate the risk, just slightly smaller than the single purchase, and the risk should be controlled. Due to the low threshold of fixed investment, it is more flexible and diverse than single purchase. Generally speaking, stock funds, hybrid funds and a small number of bond funds with excellent performance should be the main ones. It cannot be understood unilaterally as "infrastructure funds with large fluctuations in net value are worth investing."
3 Fixed investment also needs to grasp the opportunity. We should pay attention to dialectics in everything, and we can't rigidly understand the fixed investment of the fund as no need to choose the timing of entering the market at all. The ideal start-up time should be that the stock market is in a downward channel, but the market outlook is obviously optimistic and will soon "turn more". The stock market rises repeatedly but fluctuates greatly, which is most suitable for fixed investment.
4. Redemption and termination of fixed investment
Dialectically treat long-term investment. Under normal circumstances, we should stick to long-term fixed investment, but we should not stick to dogma.
Insist firmly. "The longer the investment, the better" is a misunderstanding. The stock market cannot grow steadily every year. If there is a big bear market in the deadline of fixed investment, or the market collapses in the process of fixed investment, the income will be greatly reduced or even huge losses will be generated. According to the calculation of Haomai Fund Research Center, a well-known domestic fund research institution, if an investor started to invest in "Hua 'an China 50" index fund from 65438 to February 2002, the cumulative rate of return at the end of 65438 to February 2007 was 144.83%, but by the end of 2008, after a year's plunge, the rate of return declined. From the perspective of foreign markets, if February 28, 2009 is the deadline for fixed investment, the Standard & Poor's 500 Index will make a long-term fixed investment of 10, with a loss of 43%; The yield of fixed investment for 20 years is only 5%, which is far less than that of bank deposits. Wang Qunhang, a senior analyst at Galaxy Securities, pointed out that "the long-term fixed investment of funds is relative, and there is no absolute rigid fixed investment of funds." He also pointed out that at present, almost all fund companies recommend to all investors, and all funds can make fixed investment at any occasion and at any time, which is debatable. The fixed investment period depends on market conditions. If the market outlook will enter the downward channel, the fixed investment that has been handled should avoid risks and be redeemed or converted in whole or in part to make the income safe or avoid expanding losses. For example, the original plan was to invest for five years. After three years of deduction, the stock market has reached the top of the stage. If you are about to turn into a bear market, you should resolutely redeem it, take profits and avoid loss of income. During the fixed investment period, the stock market reaches the expected index and the income reaches the expected target, so it is necessary to consider adjusting the strategy, redemption or conversion.
Can be redeemed at any time, but redemption does not mean termination. When the invested shares are in urgent need of money, they can be redeemed in whole or in part, and the redemption amount is calculated according to the net value on the redemption date. However, as long as there is no cancellation, the fixed investment agreement after redemption is still valid. As long as the balance on the bank card is greater than the agreed deduction amount, the fixed investment will continue and the deduction will be automatically made on the agreed deduction date. If you want to terminate the fixed investment, you must go through the cancellation procedures.
The following is an article published in shanghai securities news by Li Yan, a Morgan Stanley fund company, for your reference:
Eight golden laws of investing in Morgan Fund Management Company Li Yan's fixed investment fund.
Regular fixed investment funds have been adopted by more and more investors, and the advantages of regular fixed monthly automatic deduction, such as simple procedures, average cost, risk diversification and compound interest effect, have begun to be well known. However, there are several aspects that need attention, such as choosing the right fund products and grasping the profit opportunities. Here, I will systematically introduce the principles of regular quota for you, and make better use of them by observing these eight basic principles.
In this way, "small soldiers achieve great things": 1, set financial goals. You can deduct 3000 or 5000 regularly every month. When the net worth is high, you can buy less stocks, and when the net worth is low, you can buy more stocks, which can spread the entry time. This "average cost method" is most suitable for raising retirement funds or children's education funds. 2. Do your best. Fixed investment must be done easily and without burden. A customer once decided to deduct 50,000 yuan per month to diversify the investment target, but after a period of time, he had to take out the fixed deposit to continue investing, which was too uneconomical. I suggest you first analyze your monthly income and expenditure and calculate the idle funds that can be fixed and saved, 3000 yuan. 3. Choose a market with an upward trend. An oversold market with good fundamentals is most suitable for starting regular fixed investment. Even if the current market is at a low level, as long as you are optimistic about the long-term development in the future, you can consider starting to invest. 4. The investment period determines the investment target. The time compound interest effect of fixed investment and long-term investment disperses the short-term risk of short-term stock market and fund net value fluctuation. As long as the principle of long-term deduction can be observed, funds with large fluctuations can actually improve their returns, and funds with high risks should have better long-term returns than funds with low risks. If the long-term financial management goal is more than 5 years to 10 or 20 years, you may wish to choose a fund with large fluctuations, while if it is within 5 years, it is best to choose a fund with stable performance. 5. insist. Long-term investment is the most important principle of accumulating wealth regularly. This method must last for more than three years to get good results, and long-term investment can give full play to the compound interest effect of regular quota.
6. Grasp the timing of termination. The term of regular investment should also be determined according to market conditions. For example, after two years of investment, the market has risen to a very high point, and after analysis, the market may enter another short cycle, so it is best to cancel the contract first and get benefits. If you are about to face capital needs, such as retirement age, you should pay more attention to the market situation and decide when to terminate the contract. 7. Make good use of partial cancellation and convert funds in time. After starting regular fixed investment, if you have to cancel the contract for temporary redemption or the market is at a high point, you are not sure about the market outlook, and you don't have to completely cancel the contract, you can redeem some shares to obtain funds. If the market trend changes, you can switch to another round of rising prices and continue to make regular fixed investment. 8. Trust experts. When you start regular fixed investment, you don't have to care too much about short-term ups and downs and share accumulation. If necessary, you can consult experts.