The difference between special fund accounts and public offerings:

1. Difference in meaning:

Public offerings are supervised by government authorities and are open to unspecified investors Securities investment funds that issue beneficiary certificates. These funds are under strict supervision by law and have information disclosure; fund special accounts raise funds from specific customers or accept property entrustment from specific customers to act as asset managers, with commercial banks acting as asset custodians and providing asset management services. The activity of using entrusted property to invest in securities for the benefit of the client is called special account financial management.

2. Product design and service are different:

Public funds are standardized financial products, while special account financial management takes a differentiated and personalized path. Its main charm is that funds The company provides customized services to high-end customers.

3. Different financial management goals:

The performance of public funds is measured by comparative benchmarks and pursues relatively excess expected annualized expected returns, while special account financial management pursues absolute expected annualized returns. Expected income;

4. Different fee structures:

Compared with the fixed-rate management fee of public funds, the fee rate of special account financial management is more flexible, generally "fixed" + Floating", that is, on the basis of charging a certain rate, a performance remuneration not higher than 20% of the net expected annualized expected income is withdrawn.

5. Different liquidity:

Unlike public open-end funds that can be redeemed at any time, when fund companies carry out special account financial management business, they sign contracts with investors to The term of the management agreement is generally more than one year, during which subscription and redemption are not open or are limited.

6. Different forms of fundraising:

The fundraising of public funds does not require investors to sign any contract, while one-to-many special account financial management requires asset trustors and asset managers, The asset custodian *** signed a written asset management contract to clearly stipulate their respective rights, obligations and related matters.

7. Investment restrictions and investment strategies are different:

The investment proportion of public funds is subject to certain restrictions, there is a minimum stock position limit, the securities portfolio must be diversified, and the combination usually wins; Under the premise of complying with regulations, household financial management has few restrictions on stock investment positions, and can even take short positions. The investment ratio is also relatively concentrated, and it usually wins by selecting individual stocks.

Warm reminder:

①The above explanation is for reference only and does not make any suggestions. Relevant products are issued and managed by the corresponding platform or company, and our bank does not bear the responsibility for the investment, redemption and risk management of the products;

② Entering the market is risky, so investment needs to be cautious. Before making any investment, you should ensure that you fully understand the investment nature of the product and the risks involved. After understanding and carefully evaluating the product, you can make your own judgment on whether to participate in the transaction.

Response time: 2021-01-12. For the latest business changes, please refer to the official website of Ping An Bank.

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