Fund share conversion means that on the premise that the net asset value of the fund remains unchanged, the total number of fund shares is adjusted according to a certain proportion, so that the net value of fund units is reduced accordingly. After the share conversion, the total number of fund shares and the amount of fund shares held by the holder will be adjusted, but the adjusted proportion of fund shares held by the holder to the total fund shares will not change

Capital Verification The end day is the fund share conversion day. The fund manager will convert the fund shares so that the net value of the fund shares on the day when the capital verification ends is 1.0000 yuan. Then, the fund shares that investors should obtain through centralized subscription will be calculated based on the net value of fund shares on that day, and the fund shares will be calculated by the registration agency. Conduct registration and confirmation of investors’ centralized subscription shares.

Fund shares are publicly issued to investors, indicating that the holder has the right to income distribution, the right to acquire the remaining property after liquidation and other related rights to the fund property based on the shares he holds, and is a certificate that assumes corresponding obligations. .

According to relevant regulations, the current approval procedures for the listing and trading of fund shares are:

1. The fund manager submits a listing and trading application, listing announcement, and fund raising application to the stock exchange. Approval documents, fund share offering documents, fund contracts, fund custody agreements, capital verification reports, fund manager and fund custodian qualification certification documents, fund property custody certification documents, etc. are required to apply to the stock exchange for listing and trading of fund shares.

2. The stock exchange will review the documents submitted by the fund manager, issue review opinions to those that meet the listing and trading conditions, formulate a listing and trading time, attach relevant documents, and submit them to the Securities Regulatory Authority of the State Council for approval. .

3. The securities regulatory authority of the State Council shall examine the documents submitted by the stock exchange in accordance with regulations, make a decision of approval or disapproval, and notify the stock exchange and fund manager. If it disapproves, it shall Give reasons.

4. If the application for listing and trading of fund shares is approved by the securities regulatory authority of the State Council, the stock exchange shall issue a listing notice and enter into a listing and trading agreement with the fund manager to arrange the listing and trading of fund shares.

Extended Information

Listed Transactions - Fund Shares

1. Implement a public centralized quotation and transaction system, unlike the private negotiation of quotations like ordinary commodity sales. and make a deal.

2. In centralized bidding transactions on the exchange, the principles of price priority and time priority are implemented. All valid buying quotations are arranged in order from high to low. If the quotations are the same, they are arranged in the order of quotation time. All selling quotations are arranged in order from low to high. If the quotations are the same, they are also arranged in the order of quotation time. Arranged in order.

The highest bid price and the lowest sell price will be matched first. Under the same quotation conditions, according to the principle of time priority, the highest bid price and the lowest sell price will be matched first. The previous quotation is matched and the transaction is completed.

3. Implement the exchange membership agency system. That is to say, the majority of investors do not directly enter the stock exchange for transactions, but instead entrust brokers who are members of the exchange to act on their behalf.

4. Disclosure of listed transaction prices, transaction status and relevant information. When fund shares are listed for trading, the stock exchange shall provide investors with the transaction prices, trading volumes and other transaction conditions of fund share transactions at any time. Fund managers and fund custodians shall also publish fund financial accounting reports and other information to the public in accordance with regulations. Ensure the openness and transparency of fund share transactions.

Baidu Encyclopedia - Conversion of Fund Shares

Baidu Encyclopedia - Fund Shares