1. Is it a legal holiday fund transaction?
1. From the perspective of purchase and redemption, OTC open-end funds can be traded on weekends and legal holidays, and investors can purchase and redeem them 24 hours a day.
2. However, from the perspective of calculating the expected return of funds, there is a time limit for fund transactions, and the fund market takes 15: 00 pm as the dividing point.
After the fund subscription, the fund share will not arrive immediately, nor will it generate the expected income immediately. Most funds follow the trading rules of T+ 1, that is, the fund is subscribed on T day, and the fund company of T+ 1 confirms the subscription amount. The expected income will only be generated after the amount is determined, and the expected income on the first day can only be found in T+2.
So is redemption. After the redemption application is submitted, the funds will not arrive immediately. Generally, the redemption funds will be confirmed at T+ 1
T-day only refers to trading days other than weekends and legal holidays, and is bounded by 15: 00. If it is purchased or redeemed after 15: 00, the next trading day will be counted as T day.
Second, the case analysis
For example, investors can subscribe for funds at any time on February 14, but the fund confirmation date, expected income inquiry date and fund net value may be different:
Subscribe for the fund before February 14 15: 00, and February 14 is T. The net value of the fund is calculated according to the net value of February 14. The fund confirmation date is1February 7 (T+ 1), and the first expected return inquiry date is February 65438.
Apply for the fund after February 4th 15: 00, and on February 7th 17. The net value of the fund is calculated according to the net value of February 17. The fund confirmation date is February 18 (T+ 1), and the first expected return inquiry date is February 65438.
The above contents about the legal holiday fund transaction, I hope to help you. Warm reminder, financial management is risky and investment needs to be cautious.