Graded funds generally have a fixed rate of return, one lever and two. So it's called grading. For example, Yin Hua 100, Yin Hua's steady progress is a fixed rate of return, so his fluctuation will not be too great, and Yin Hua Ruijin is a lever. Steady progress is the agreed income of 3%+ one-year fixed deposit interest rate. Ruijin is an investment certificate 100, which is equivalent to etf.
If you subscribe to Yin Hua 100, you can subscribe in different places, but there are two. According to the ratio of 4: 6, if you only want one, you can also sell one and buy another in the secondary market. Now the graded funds can be converted to each other, and the previous Changsheng Celebration cannot be converted to each other, so there will be a great discount. Now it's different, because it can be converted in the primary and secondary markets, so there will be no big discount (if it appears, it will create arbitrage space).