Since April 8, 20 1 year, all fund companies have collected redemption fees of not less than 1.5% from investors who have held for less than 7 days (natural days) and incorporated the redemption fees into the fund property in full, except money funds and transactional open index funds (ETFs).

Take the fund of 6,543,800 yuan+0,000 yuan as an example. If the investor redeems the fund within 7 days after the modification of the fund contract, the redemption fee will be at least RMB 6,543,800+0.5 million. If you choose to hold it for a period of time, such as more than 7 days, you only need to pay a redemption fee ranging from 0 to 5,000 yuan. The main purpose of the new regulations is to protect the investment rights and interests of long-term investors and curb the impact of large inflows and outflows of funds on fund returns.

The adjustment of redemption fee will increase the short-term investment cost, so it is also considered as a "punitive" redemption fee for investors with a holding period of less than 7 days. For ordinary investors, if they hold this fund for less than 7 days, the redemption rate will increase by at least 1%.

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Some insiders said that the new regulations can reduce the frequency of short-term capital inflows and outflows, effectively prevent short-term arbitrage of investors' huge funds, curb the phenomenon of trying to help fund companies expand their scale, guide investors to make long-term investments, and effectively protect investors' interests.

However, investors should pay attention to the fact that although many fund companies have announced the levy of short-term redemption fees, there are still differences in the design of redemption fees among different companies. There are also differences in the rate setting of redemption fees charged by the same fund company for different products.

People's Daily Online-Reducing Liquidity Risk Punitive redemption fee is fully levied