Fund companies have to sell shares and get cash to cope with the redemption pressure. Because of redemption, some funds even fell below the lower limit of 200 million yuan. The strange phenomenon of "the better the performance, the more redemptions" in China's fund industry reminds us once again that the market urgently needs to clarify the misunderstanding of fund holders. One of the misunderstandings: if the market rises, it is necessary to redeem the net value of the fund. If the market rises, the net value of the fund held in the hands will also rise, so it should be redeemed. This is a misunderstanding of some fund holders. Although "buy low and sell high" is the profit principle that stock investors should follow in the stock market, many short-term investors are also used to selling when the upward trend is good.

In doing so, on the one hand, it is to cash out in time and obtain vested interests; On the other hand, it is also to avoid the risks brought by the stock price decline. However, this kind of stock manipulation technology, applied to investment funds, is all wet. Because for investment funds, it is a long-term gradual investment process. In this process, the net value of the fund will fluctuate with the fluctuation of the market, and its investment income cannot be achieved in one step and immediately. Myth 2: The redemption of my assets by others will be affected by the huge redemption tide in the loss-making market, which has caused some holders to panic: "Other people's assets have been redeemed, should my share stay in the bag?" This kind of psychology affects investors' investment behavior. In addition, some investors worry that the redemption of other investors will lead to a decline in the net value of the fund, thus causing losses to their own assets.

In fact, this is a misunderstanding of the fund. Stock appreciation, many investors choose to sell at a high level, which will lead to the decline of stock market value. The fund is not a stock, and its net value will not decrease due to huge redemption. The only thing that affects its net worth is the return rate of the portfolio. Even if the fund size falls below the lower limit of 200 million yuan, as long as its portfolio is profitable, its net value is still above the face value. Myth 3: funds can also do band operation, which is a common stock operation method for some short-term customers, but this method is not suitable for funds. Fund investment experts pay attention to value analysis and fundamental research. Because each subgrade fund has its own investment plan and portfolio, and because value investment is the dominant idea, it is impossible for fund investment to be immediate, even if it is below the face value, it is normal. Therefore, as long as the macro economy is improving, there is no doubt that the fund's rate of return will show an increasing trend.