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Reasons for the collapse of crude oil funds in June 5438 +2020 10.
Time difference, subscription tide, exchange difference.

Crude oil funds are basically QDII funds, T+ 1 exchange, and T+2 confirms the share. Although the net purchase value is calculated according to T-day, the net purchase value on T-day is subject to the closing of US stocks in the early morning of the next day.

Crude oil is a variety that is traded almost 24 hours a day. If the domestic T-day closing sees a decline and buys, then the oil price is likely to rise when the US stock market closes, then the crude oil fund you buy will be calculated according to the rising price.

Due to the collapse of crude oil, a large amount of funds are purchased centrally, and the single-day purchase amount is too large, which will lead to the one-day increase being evenly shared.

The daily exchange rate of foreign exchange is relatively stable. Recently, the U.S. stock market plummeted, probably because the United States kept its own currency, which led to a sharp rise in the US dollar index and a sharp drop in the exchange rates of many Asian currencies against the US dollar. Of course, the renminbi cannot be suppressed by the dollar, and it is also protecting the exchange rate. It is not easy to invest in overseas markets if the local currency is strong.