Fund conversion business refers to the behavior of investors requesting to convert all or part of the fund units they hold into units of other open-end funds managed by the fund manager during the fund's existence.

That is, when an investor sells a fund, he or she buys another fund managed by the fund management company.

Fund switching generally can only be done between funds of the same fund company.

Funds from different fund companies generally cannot be converted between funds.

Number of fund shares after conversion = Number of fund shares transferred out × Net value of fund shares transferred out on the application date

Of course, the specific situation depends on each fund company.

Therefore, it is better to convert funds and redeem them before subscribing, which saves both capital costs and time costs.

When converting China Monetary Fund to China Return Fund No. 2, it is a conversion from a fund with a low subscription fee (0%) to a fund with a high subscription fee (2%). You will have to pay the difference in the subscription fee of 2%-0%=

2%, which is 20 yuan; since the redemption rate of money funds is 0%, you do not need to pay redemption fees.

The conversion fee in the table is 19.3 yuan, which is accurately calculated by the bank based on the customer level coefficient.

Therefore, I will not repeat the calculation again.