From the profit model of fund companies, the fees charged by fund companies mainly come from two aspects: first, customer transaction costs: subscription and redemption fees; The second is the management fee. The former earns "sales" money, while the latter earns "stock" money. From this perspective, there is no reason for fund companies to stop you from buying other funds.

Let's talk about the "suspension of subscription" in the fund first

1 & gt； The "suspension of subscription" of the newly established fund will enter a closed period after the fund raising, usually within three months. During this period, the Fund suspended subscription.

The "suspension of subscription" of 2 & gtQDII funds is the most common one. QDII funds need foreign currency for investment, so there are restrictions on foreign exchange quota when they come out. To put it bluntly, it is caused by insufficient foreign exchange quota. In order to prevent capital outflow, the State Administration of Foreign Exchange (SAFE) has been slow in approving foreign exchange quotas, which has led QDII funds to worry about "cooking without rice" and have to suspend or restrict subscription first. However, after the opening of the land port link, this situation has also been alleviated.

Is 3> really a "subscription suspension"? In fact, limited to the consignment platform, the funds that may be sold by the head tripartite consignment platform are relatively complete. Some funds are sold through special channels, so when buying on the platform, you must see clearly whether it is "suspended sales" or "this platform is not for sale". If you are not sure, look at the fund announcement. General fund "suspension of subscription" will be announced soon.

"Subscription limit" of the fund

Theoretically speaking, the more people the fund buys, the greater the amount it buys, which directly contributes to sales and stocks. Then why is it limited? Mainly to protect the scale. In particular, some star funds sought after by the market are mainly affected by a large amount of capital inflows because of their beautiful performance. Some cutting-edge fund managers, who originally managed 654.38+0 billion yuan, suddenly doubled their scale in a short time, which will lead to passive investment strategies. The scale of star products of some star fund managers has reached billions or even billions. It's too big, but "the boat is too big to turn around." Also, when some funds start to raise funds, they will be put in proportion. For example, Laofu's Ruiyuan Growth Fund raised more than 70 billion at the time of issuance and placed it in proportion; As soon as the subscription was opened, it sold more than10 billion in one day. Sometimes big is not necessarily a good thing. At present, the average daily limit of the fund is 1000. This quota basically keeps many large institutions and individuals out.

In essence, the purpose of restricting subscription is to control the fund size and avoid negative impact on performance.

In addition, there is another situation in which institutions "customize" funds. Institutions, like making money quietly, don't like too much money. I don't want some retail investors to participate. Therefore, such funds may also be restricted.

Restricted purchase1100,000, basically refusing the inflow of institutional funds;

Limited purchase of 65438+ 10,000 or 1 10,000, basically excluding large retail investors;

Limit 1000, basically equivalent to suspension of subscription.

Funds with restricted purchases are often funds with better performance. Of course, this election is a little behind. But it also has reference significance.