First of all, we should understand the concepts of Securities A(15171) and Securities B(15172): a fund product of Shenwan Hongyuan Securities, which mainly invests in the securities industry. The parent fund = Securities A+ Securities B, in which Securities A: Securities B = 5: 5. Under the condition that the net value of the parent fund remains unchanged, Securities A and Securities B can only be. The detailed explanation is as follows:

net fund value. Is the current total net assets of the fund divided by the total share of the fund. Net fund value = total assets/fund share, that is, the net asset value of each fund unit. Under the condition that the fund share remains unchanged, the net fund value is mainly affected by the rise and fall of the stocks it invests in.

securities a and b belong to on-site funds and can be purchased directly through securities accounts. Their parent funds need to be purchased off-site, that is, they cannot be purchased directly through securities accounts. However, the on-site and off-site markets can be combined, and the two can achieve linkage through splitting and merging, which also involves the issue of graded fund arbitrage.

tiered fund arbitrage. Arbitrage operation of graded funds mainly occurs in the short-term sharp rise of individual sectors or markets, and the funds pursue the Class B shares of related graded funds, and the premium rate of Class B shares continues to rise rapidly in the short term, which makes the net premium rate of Class A shares and Class B shares of graded funds relative to the base share (parent fund) greatly exceed the normal level (generally 2%, and the handling fee should be considered). In the case of share matching conversion mechanism, off-exchange funds will purchase the base share (parent fund).

if it is necessary to carry out the arbitrage operation of graded funds, it is suggested to look for cooperation with securities business departments that have advantages in this respect. The arbitrage operation and handling fee concessions of the specific graded funds can be found on the right side of the Aibaopen page. Please consult the customer service of "Securities Account Opening" for more consultation. At present, there is a 5% discount on the handling fee for graded arbitrage.