The general redemption process of open-end funds is: T day is not reported, T+ 1 has been reported, and T+2 has been completed. The fund subscription and redemption can only be said to be successful if it is confirmed by the T+2 system.

It is normal to display the uncommitted orders on the submission date (T date). Even if the order is placed around 2:50, as long as records are found in the entrusted inquiry, it will generally be submitted on the second trading day (T+ 1 day) and completed on the third trading day (T+2). And then after liquidation. Therefore, open-end funds generally take about 4 working days.

Extended Information The CSRC issued the Regulations on the Management of Sales Expenses of Open-ended Securities Investment Funds, which added detailed provisions on redemption fees for short-term transactions, prohibited fund managers from paying one-time rewards to sales organizations, and standardized trailing commissions.

Judging from the charging structure, the new regulations still maintain the current basic charging institutions for subscription fees (subscription fees) and redemption fees in the industry, and are basically consistent with the current regulations from the charging level.

Excessive trading will usually dilute the existing income of long-term investors, and may also interfere with the normal management of their portfolios by fund managers and infringe on the interests of long-term investors.

The relevant person in charge of the CSRC said that the redemption fee for short-term transactions is mainly for some investors to frequently purchase redemption funds as speculative varieties, and some institutional investors use their financial advantages for short-term arbitrage.

The Management Regulations allow fund managers to set a higher redemption rate standard for fund holders redeemed within one week or one month, and fully include such redemption fees in the fund property.

Although it increases the transaction cost of investors' short-term fund transactions, most holders who insist on long-term investment can also benefit from it because the management regulations require that all redemption fees with a holding period of less than 30 days be included in the fund property.

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