The confirmed share of 1.t+2 is generally calculated on the day of purchase, and the net value of investors on the trading day after trading is normally calculated. Because domestic trading days are all T+ 1, T+2 is usually a one-to-one night trading day in China. On the trading day when the Dico Fund operates, and t+2 is two trading days after the fund trading day (excluding weekends and legal holidays). The fund transaction is calculated according to the net value of the fund unit on the day of the transaction, but the fund transaction is based on the principle of unknown price, so the net value of the fund on that day can only be queried the next day.

2. The confirmed share of the fund refers to the share held by investors after they buy the fund. Since the fund is traded at an unknown price, after investors buy the fund, the subscription or subscription fees can be deducted according to the closing net value of the day, and the number of shares bought by investors can be confirmed. Net value confirmation refers to the confirmation of the net asset value of each fund unit. The net value of the fund is equal to the balance of the total assets of the fund MINUS the total liabilities, and then divided by the total number of unit shares issued by the fund.

Fund share characteristics

1. implements an open centralized quotation and trading system, unlike ordinary commodity sales, which are all privately negotiated quotations and transactions.

2. The centralized bidding transaction of the exchange shall follow the principle of price priority and time priority. All the valid quotations bought are arranged from high to low, and the same quotations are arranged in chronological order; All the sold quotations are arranged from low to high, and the same quotations are also arranged in chronological order. The top buy quotation and sell quotation are paired, that is, the highest buy quotation and the lowest sell quotation are paired first; Under the same quotation conditions, according to the principle of time priority, the top quotations are paired and clinched.

3. Implement the exchange member agency system. That is, investors do not directly enter the stock exchange for trading, but entrust brokers who are members of the exchange to buy and sell.

4. The price, transaction status and related information disclosure of listed transactions. Where fund shares are listed and traded, the stock exchange shall provide investors with transaction information such as transaction price and transaction volume at any time, and fund managers and fund custodians shall also announce the financial and accounting reports and other information of the fund to the public in accordance with regulations to ensure the openness and transparency of fund share transactions.

trade

The meaning of listing and trading of fund shares According to the provisions of Article 5 of this Law, the fund shares of closed-end funds can be traded in legally established securities exchange places, and other provisions are authorized if funds with other modes of operation need to be listed and traded. Therefore, the listing of fund shares mentioned in this chapter refers to the listing of fund shares of closed-end funds. The listing and trading of fund shares refers to the open and centralized bidding of fund shares in the stock exchange upon the application of the fund manager and the approval of the the State Council Securities Regulatory Authority.