On the registration date of fund rights and interests, if the subscribed fund is confirmed by the fund company on this day, it is generally T+2, and you can enjoy the rights and interests of dividends. If you buy the fund on the same day, you can't get the subscription confirmation of the fund company on the same day, that is, on T day, you can't enjoy the dividend rights.

The equity registration date is the day when the fund manager needs to determine the dividend distribution, and it is clear that the registered fund holders enjoy the dividend right of the fund on that day. If the equity registration date is T, the object of income distribution is all fund holders registered on T, that is, the fund shares registered on T enjoy the right to distribute fund income. Therefore, the fund shares subscribed and transferred by T-day fund have no income distribution right, while the fund shares redeemed and transferred by T-day fund enjoy income distribution right.