1. Why is there a proportional placement?
You know, the investment threshold in Public Offering of Fund is relatively low, and most people can afford it, especially those with predecessors. Therefore, the scale of Public Offering of Fund will generally be relatively large, and the names of good funds of established fund companies will be relatively loud, often selling tens of billions a day.
If there is a large-scale fund, it is still easy to exceed the scale of raising, so there is a problem of proportional placement. For example, when the science and technology innovation board was opened last year, several science and technology innovation funds were all sold out in one day, and all of them seriously exceeded the upper limit of scale, and the placement ratio was relatively low, and some even set a record for the lowest placement ratio at that time.
2. What is "proportional placement"?
Let me give you an example directly. For example, the upper limit of the fund size has been 654.38+05 billion yuan, and as a result, it accidentally sold 30 billion yuan, which was seriously over-scaled. However, according to the regulations, only 654.38+05 billion yuan can be retained, and the remaining 654.38+05 billion yuan will be returned to investors according to the original path.
Whose is that? Who returned it to? In order to be fair, everyone who participates in the subscription has a share, and you distribute it in proportion. For example, if you subscribed for 1 10,000, you will allocate 500,000 in proportion, and the remaining 500,000 will be returned to you. This is called proportional distribution.
Placement percentage is the proportion of placement, which is aimed at the situation of selling out or placing all of them in proportion within one day.
3. There will be a doomsday ratio. Why?
Under normal circumstances, most fund-raising usually has a time limit, such as 5 days, 20 days and so on. And the fund confirmation share is determined on T+ 1 day, which means that the fund bought on Monday can only be confirmed on Tuesday and can only be seen on Wednesday.
Then, suppose the fund-raising period is 10 days. On the day of fund raising 10, the shares of the first 9 days have been confirmed, and cannot be changed after confirmation. Then after 10 days, there may be three situations: first, the scale is not large enough, second, the scale is just large enough, and third, it is beyond the scale. For the part exceeding the scale, it should be placed in proportion, but because the shares of the previous 9 days have been confirmed and cannot be changed, the shares raised on 10 should be confirmed in proportion, which is called doomsday proportional placement. Of course, if it is sold out in half a day, the fund will be far beyond the scale in one day, and there is no end. Generally, it will be put directly in proportion.
Well, I hope my explanation will make you more clear. Thank you.