In the fund account opening application or fund transaction power of attorney provided by fund companies or consignment agencies, most of the format clauses set the following or similar contents: "I accept the legal clauses specified in the fund prospectus and voluntarily invest in the open-end fund, willing to enjoy its benefits and bear its risks". Then, when you sign your name at the client's signature to show your approval of its contents, do you really understand the meaning expressed in many fund documents? In addition, if you do read the relevant fund documents through various channels, have you noticed that there may be the following statement in a fund document: "After obtaining the fund shares issued in accordance with the fund contract, the fund investor becomes the fund share holder and the party to the fund contract, and the act of holding the fund share itself indicates his recognition and acceptance of the fund contract. Fund share holders do not need to sign or seal the fund contract in writing. " That is to say, according to this clause, even if you don't really sign the Fund Contract, as long as you buy the Fund through other channels or become a fund share holder, you are equivalent to recognizing all the contents of the Fund Contract and fulfilling the relevant provisions of the contract.
Understand the meaning of "T+n Day"
As a beginner in the fund, do you really understand the meaning of "T day" and "T+n day" defined in the fund contract? This may involve two issues: 1, fund subscription, redemption and transaction confirmation and inquiry. The so-called T-day refers to the day when you formally subscribe for this fund and enter the subscription information into the system. For example, a fund document stipulates: "The fund manager guarantees the confirmation and notification of subscription and redemption: for a valid application submitted on T-day, the registrant shall confirm the validity of the transaction within 1 working days after T-day, and investors can check the confirmation of the application at the counter of the sales website or in other ways designated by the seller on T+2. The net value of fund shares on T day is calculated after the market closes on that day and announced on T+ 1 day. Under special circumstances, the calculation or announcement may be appropriately delayed and reported to the China Securities Regulatory Commission for the record. " So, what it means is that if you buy a fund before the market closes on the same day (3 pm every working day), the fund company can only confirm whether the transaction is valid on the second day and whether the application is accepted, and can only inquire about the application on the third day after buying. If the fund is purchased after the market closes on the same day (such as online banking and other channels), the number of days will be extended by another day.
2. Calculation and announcement of the fund price: Generally speaking, the net value of the fund can only be calculated after the market closes on the same day and announced on the second working day. In other words, if you want to buy a fund, the net value you can find can only be the net value of the fund on the previous working day. If you successfully submit the subscription form and enter it into the system before the market closes, you can find out the net value of the fund you actually bought the next day, so as to finally determine the fund share you bought. If you fail to enter the transaction before the market closes, the price of the fund you bought is the same as the net value of the fund you bought before the market closes the next day, and you can only know it on the third day after submitting your application. Therefore, if you can't understand the meaning of these two words well, you can't know the time when you bought the fund, the net value of the fund when you bought it, the time when the transaction was confirmed, and the time when the transaction can be queried, so as to finally calculate your own income accurately.
The same is true of sales.
Only you pay for the risk.
Do you really understand that only the fund holder bears the investment risks of all funds, and fund managers, fund custodians, banks or securities companies that sell funds on a commission basis, and securities companies that open accounts or operate account transactions according to regulations are not responsible?
Looking through the fund files, you will find that "the fund manager manages and uses the fund assets according to the principle of honesty, credit and diligence, but does not guarantee a certain income of the fund, nor does it guarantee the minimum income of the fund share holders." "When the fund assets are lost due to the fault of the fund custodian, the fund manager will recover from the fund custodian on behalf of the fund, but will not bear joint liability, compensation liability and other legal liabilities." "When the loss of fund assets is caused by the fault of the fund manager, the fund custodian shall recover from the fund manager on behalf of the fund according to the relevant laws and regulations and the provisions of the fund contract, but shall not bear joint and several liability, compensation liability and other legal liabilities." Fund clients, whether banks or securities companies, have the obligation to sell funds on a commission basis. For example, even if they submit transaction documents, transfer funds or provide inquiry services, they are not responsible for the principal and income of funds. To sum up, you will find that if you buy a fund because you believe in the asset wealth of the fund company, the strength of the custodian, or the trust of the consignment bank, and expect them to assume the responsibility of protecting the capital and income for you (unless they recognize their guarantee responsibility in written documents), the result may be disappointing.
In view of this, it is recommended that you clearly recognize the risks of the fund and truly understand the risks of the fund before signing and confirming the relevant risk warning clauses and related contents.