The graded fund B, which broke out on 20 14, was highly sought after by investors because of its leverage when the market continued to rise. However, because many investors know little about graded funds, they only see the rapid growth of profits when they rise, but ignore the leverage risk when they fall.

It is understood that when the net value of the graded fund B share falls below 0.25 yuan, it triggers the discount, which means that the net leverage of the graded fund B share on the day of discount is as high as 5 times or more. In the process of folding, the leverage of the net value of B shares of graded funds is decreasing, and the trigger date of folding is often around 1.5 times. This also means that the unit net value of graded fund B share has the characteristics of "rising more slowly and falling faster".

In addition, when grade B is discounted, the higher the premium rate, the greater the loss of the holder. Because the loss is the premium difference between the market transaction price and the net value. Mr. Chen, a brokerage analyst, said that the closer to the discount, the heavier the selling of Grade B, so it usually stopped shortly after the opening and it was difficult to sell. In the face of Grade B with discount risk, customers are advised not to count it as a local sale.