First of all, what is a daily fund?
The super-conversion function of Tian Tian Fund refers to that investors submit applications for super-conversion transactions through the Tian Tian Fund Trading System, and convert their convertible fund shares into funds of any qualified fund company. Investors submit their applications on T-day (T-day refers to the trading day before 3 pm), and T+ 1 can confirm the transfer-in share (T+ 1 only confirms the specific amount, and the purchase cost is still the net value of T-day). In other words, investors use super conversion before 3 pm on the trading day, the cost of transferring out of the fund is the net value of the day, and the cost of transferring into the fund is also the net value of the day.
Second, products supported by Tian Tian Fund.
At present, Tian Tian Fund has supported more than 2,400 stock-type, hybrid-type, bond-type, capital preservation-type, currency-type and index-type products for super conversion. Lifelong Bao, QDII, Xinfa Fund and some products confirmed on T 2 do not support this function for the time being.
The transaction cost of over-conversion is the redemption fee of the transferred fund and the subscription fee of the transferred fund (the subscription rate is the same as that of ordinary subscription, mostly 1 discount), and there is no additional rate.
In fact, super-conversion is a kind of fund trading method tailored for investors in order to support the rapid conversion between the shares of different fund companies.
Third, the core idea of super transformation
The core idea of super conversion is to package the two-step operation from redemption to subscription into the same experience as conversion.
There are two core points:
The first core is that the redemption funds are uncertain and need to be reasonably estimated.
The second core is the advance payment. Simply put, you can't pay in time after redemption on the same day, so you have to pay the fund in advance every day.