First of all, we need to know what is fund share transfer custody?
Fund share transfer custody refers to the fund share transfer custody business in which an investor applies to transfer all or part of his fund share held in a trading account of a sales organization (or outlet) to a trading account of another sales organization (or outlet).
For example, an investor originally bought a fund from Bank A, but later found that Bank B was closer to home, so he could transfer the fund share to custody and transfer the fund from Bank A to Bank B. ..
Second, we should know the steps of transferring fund shares to custody.
The transfer of fund shares into custody is divided into two steps: transfer out and transfer in. Investors need to bring their ID card, fund account card of the original institution and fund card to the outlet where the fund was originally purchased, and then go to the transfer-in institution for transfer-in within 20 working days. To handle the re-custody business, investors need to open a fund trading account in the transferred sales organization.
3. What business will be blocked after the fund is transferred to custody?
Under normal circumstances, after investors successfully transfer their trust fund shares on T-day, the transferred trust fund shares will reach the transferee's outlets on T+ 1 day, and investors can redeem these fund shares from T+2. After the transfer of custody, the duration will continue to be calculated after the original custody share is transferred to the new custody outlet. Within the first five days and the last three days of the equity registration date, the business application of investor custody will not be accepted.
Four. Matters needing attention in transferring funds to custody
When transferring custody, the fund holder can transfer all the fund shares he bought in a sales organization (place) at one time or in part, but the balance of the fund shares transferred out and transferred to the sales organization after the transfer custody is completed shall not be lower than the minimum holding share stipulated in the fund contract.
If the fund share balance managed by the investor in the sales organization (place) is lower than the minimum share after re-custody, it is confirmed that the re-custody is unsuccessful.
If the investor's fund share balance is lower than the minimum share, he must apply for a one-time transfer when transferring custody. If the number of applications is not all, the registration transfer department confirms that the transfer is unsuccessful.
Verb (abbreviation of verb) The difference between fund transfer and custody and conversion.
Fund conversion refers to a business model in which investors can directly convert their fund shares into those of other open-end funds managed by a company after holding any open-end fund issued by the company, without redeeming the fund shares they hold before purchasing the target fund.
Fund conversion can only be converted into fund shares managed by the same fund company, registered and deposited by the same registrant and under the same fund account, and can only be carried out in the same sales organization.
Transfer custody refers to the business that the same investor transfers the fund shares entrusted at a sales outlet to another sales outlet (it can be a different sales organization, but it must be an institution that transfers the funds on a commission basis).