What do you mean, you've hit the huge redemption limit?
It means that the intraday redemption limit set by wealth management products has been reached. This situation is often caused by large redemptions, because too many customers have redeemed products, reaching the proportion limited by the system. In the fund market, huge redemptions are also common.
The huge redemption of funds refers to a single open day of open-end funds. When the net redemption amount of an open-end fund (the balance after deducting the total number of redemption applications) exceeds 65,438+00% of the fund size, the fund manager can postpone the processing of the remaining redemption applications under the condition that the redemption acceptance ratio is not less than 65,438+00% of the total fund size.
When there is a huge redemption of the fund, the fund manager can decide to transfer it out in whole or in part according to the fund asset portfolio, and the fund transfer and fund redemption are confirmed in the same proportion.
What are the reasons for the massive redemption of wealth management products?
Losing money, investors found that the wealth management products they bought were constantly losing money, so everyone applied for redemption. This situation has easily touched the huge redemption ceiling, and wealth management products have suffered great losses. The main reason is that the net value of some bank wealth management products has retreated under the background of the phased correction of the bond market.
When applying for redemption of the wealth management products or funds you have purchased, if you are prompted that you have reached the huge redemption limit, you often need to wait for the next working day to apply for redemption.