Punitive redemption fee is a punishment for short-term capital speculation;

"For equity funds (excluding ETFs) and hybrid funds that charge sales service fees, investors who have been holding for less than 30 consecutive days will be charged a redemption fee of more than 0.5%, and the redemption fee will be fully included in the fund property; Equity funds (excluding ETF funds) and hybrid funds that do not charge sales service fees will be charged a redemption fee of more than 1.5% for investors with a continuous holding period of less than 7 days, and a redemption fee of more than 0.75% for investors with a continuous holding period of less than 30 days. The above redemption fee is fully included in the fund property. "

Monetary funds have never seen punitive ones, because they are difficult to speculate, and those who can afford the price of monetary funds have also participated in a large amount of money.