Under normal circumstances, the funds in securities accounts can only enjoy the current interest during the liquidation period, and the income of money market funds is higher than the bank deposit interest rate. Therefore, before the long holiday, many idle funds may concentrate on buying money market funds to pursue short-term benefits during the holiday.
However, during the long holiday, the investment targets of money market funds are closed, and there are only a few trading days before the long holiday, so it is difficult for money funds to effectively allocate a large amount of concentrated cash in a short time.
According to the regulations, the fund shares purchased on the same day will enjoy the distribution right of the fund from the next working day. Therefore, if a large amount of money is used to buy money market funds in a short time before holidays, it may cause the newly purchased funds to dilute the income of the original money fund holders. Therefore, before the long holiday, money market funds take measures to suspend subscription, which is a measure to protect the interests of existing fund holders and treat new and old investors fairly.
To put it bluntly, it is to prevent some funds from only buying long holidays these days and redeeming them after the holidays. The act of diluting the income of the money fund during this period. Monetary funds can usually be subscribed at any time. Why didn't it come to National Day? Because tomorrow is the last trading day of this week, there are only 30 days left before the holiday. T+ 1 working day to confirm the subscription of the monetary fund and calculate the income. If the money fund is purchased before 30th 15: 00, it will be confirmed by1October 8th 10. Therefore, even if the subscription is not restricted, it is necessary to prepare for the purchase these days.
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