Placing fund means that when a new fund is issued or the fund is split, the amount subscribed by investors exceeds the expected scale of the fund company, and investors can only subscribe for the fund shares within the proportion of placing, and the excess funds will be returned to investors.

Placement ratio = restricted sales scale/total number of valid subscription applications during the raising period ×100%; Confirmation amount of investor's subscription application = effective subscription application amount submitted during the raising period × placement ratio.

For example, if the upper limit of the issuance scale of a fund is 20 billion, and the final subscription application amount of the investors in the market is 40 billion, then the placement ratio = restricted sales scale/total effective subscription application during the raising period ×100% = 200/400×100% = 50%; If the subscription amount of Xiao Li is 200,000 yuan, the final transaction amount = 20× 50% = 654.38+10,000 yuan.

In short, all valid subscription applications can be confirmed if the fund raising scale does not exceed the prescribed fundraising limit; If the scale limit is exceeded, the customer's subscription application will be confirmed in proportion, which means that the amount subscribed by the investor can only be partially completed.