What does bond fund mean? The full name of bond mode fund is brokerage settlement mode fund, which is a fund for fund settlement through brokers. The settlement behavior of the funds is carried out in the settlement fund account opened by the securities firm. After the brokerage company opens a settlement fund account, the products of the fund company will entrust the brokerage company as a broker to complete the settlement and delivery of funds for it.

Bond model fund means that a publicly issued fund chooses a brokerage firm as the main agent and transaction settlement service provider, and the commission generated by the fund exchange can only be distributed to three brokers including settlement brokers. The securities settlement mode is called the securities company settlement mode, and its settlement behavior is mainly carried out in the accounts opened by securities companies. This settlement method can not only improve the security of settlement, but also reduce the occurrence of accidents; You can also urge brokers to maintain the amount of funds, increase the amount of funds, and let brokers get more commissions.

In the prevailing direct connection mode, brokers only participate in the trading link, and the custodian is the main body of settlement and delivery; However, in the securities settlement mode, the securities broker is the main body of settlement and delivery, and the broker can participate in the trading, custody and delivery of funds "in the whole process".

Just last year, the overall scale of bond funds expanded, and more and more public offering managers began to test the water bond model. As of 202 1 65438+February 26th, this year, 125 new funds have traded securities by means of brokerage settlement. Compared with 62 in 2020, 46 in 20 19 and 16 in 20 18, bond funds broke out in 20021year, with a total scale exceeding 380 billion yuan.

In fact, many fund companies' old products have changed to the settlement mode of securities settlement, because of policy encouragement, it is also conducive to the prevention of trading risks and the in-depth cooperation between fund companies and brokers. At present, the funds in bond mode are basically off-site funds, but it is very likely that there will be on-site funds in bond mode in the future.