Graded funds are open-end fund products issued by fund management companies. Issue two kinds of stocks at the same time, namely Class A and Class B stocks. B shares can be converted into A shares, but A shares cannot be converted into B shares. Classified funds are characterized by bond leverage and mainly invest in fixed-income securities. Premium means that the market price (B-share price) of a graded fund is higher than its net asset value.

There are many reasons for the high premium of graded funds. First of all, the graded fund is an innovative fund product with certain market enthusiasm, and investors are willing to buy it at a high price; Secondly, issuers sometimes artificially raise the issue price of Class B shares in order to obtain higher returns; In addition, the fund manager will raise the price of B share through operation and other means, which can also lead to the premium of graded funds.

Although the premium of graded funds is high, investors should pay attention to certain risks. First, the premium rate may fluctuate, resulting in a decline in asset value; Secondly, investors may not be able to sell B shares in time, and thus they will not get the due income; Finally, poor performance may lead to a rapid decline in the premium of graded funds, and investors should learn to analyze and evaluate them and formulate scientific investment strategies.