Question 2: What does fund redemption mean?
Redemption, also known as repurchase, is aimed at open-end funds. Investors directly or through an agency request the fund management company to withdraw part or all of the investment from the fund and remit the repurchase money to the investor's account. Investors need to fill in the application for repurchase, and indicate the name and number of units (or amount) of the repurchase fund. It usually takes about three to four working days for the repurchase money to be remitted to the bank account.
Redemption fund share
I. Exchange places
The sales organization of the Fund includes the fund manager and the agency entrusted by the fund manager. Fund investors shall purchase and redeem fund shares in the business premises where the sales organization handles fund sales business or in other ways provided by the sales organization.
Two. Opening date and redemption time
The subscription and redemption of the fund shall start within 3 months after the fund contract comes into effect, and the fund manager shall make an announcement on at least one designated media and the fund manager's Internet website (hereinafter referred to as the "website") 2 days before the specific date of subscription and redemption.
Third, the redemption limit
1. If the balance of fund shares held by fund share holders is less than 1000 due to a redemption, all fund shares in the balance must be redeemed together.
2. The fund manager may, according to the market situation and with the permission of laws and regulations, adjust the above-mentioned quantitative restrictions on the subscription amount and redemption share. Before the adjustment takes effect, the fund manager must make an announcement on at least one designated media and the fund manager's website, and report to the China Securities Regulatory Commission for the record.
Four. Redemption fee
The redemption fee of the Fund is collected when investors redeem the fund shares, and the balance after deducting marketing and registration fees belongs to the fund property. 25% of the redemption fee of the Fund belongs to the property of the Fund. The redemption rate of the Fund is not higher than 0.5%, which decreases with the increase of holding period.
Holding period redemption rate
1 0.5% in a year
1 year or more (inclusive) -2 years 0.25%
More than 2 years (inclusive) 0
Note: As far as redemption fee is concerned, 1 year means 365 days, and 2 years means 730 days.
Verb (abbreviation of verb) calculation of redemption amount
The Fund adopts the method of "share redemption", and the redemption price is calculated according to the net value of fund shares on T day. The calculation formula is as follows:
Total redemption amount = redemption share ×; Net value of fund shares on redemption date
Redemption fee = total redemption amount ×; Redemption rate
Redemption amount = total redemption amount-redemption fee
Six, huge redemption situation and treatment methods
When there is a huge redemption, the fund manager can decide to fully redeem or partially postpone the redemption according to the asset portfolio status of the fund at that time.
(1) Full redemption: When the fund manager thinks that he has the ability to pay all the redemption applications of investors, he should follow the normal redemption procedures.
(2) Partial Deferred Redemption: When the fund manager thinks that it is difficult to pay the investor's redemption application or that paying the investor's redemption application may cause great fluctuation to the fund's net asset value, the fund manager will postpone the remaining redemption application on the premise that the redemption ratio accepted on the same day is not less than 65,438+00% of the total fund share of the previous day. For the redemption application of a single fund share holder, the redemption share handled by a single fund share holder on that day shall be determined according to the proportion of the redemption share applied for to the total redemption share applied for that day; If the investor fails to redeem the part, it will be postponed to the next open day, unless the investor chooses to cancel the unprocessed part of the day when submitting the redemption application, and the redemption price is the price of the next open day. Redemptions transferred to the next open day in accordance with the above provisions do not enjoy redemption priority, and so on until all redemptions are completed. Partial deferred redemption is not limited by the minimum share of a single redemption.
Redemption procedure
1. Institutional investors:
(1) Fill in the complete application form for redemption of open-end funds and affix the reserved seal.
(2) ** Fund account card of Fund Management Co., Ltd.;
(3) The original identity certificate of the agent.
2. Individual investors should bring the following materials to the direct selling point for redemption business:
(1) Original ID card (ID card, military ID card or passport) of the person or agent;
(2) ** Fund account card of Fund Management Co., Ltd.;
(3) Fill in a complete application form for redemption of open-end funds.
3. Preventive measures
(1). Investors should handle related matters according to the procedures specified in the fund prospectus.
(2) An investor can only open a fund account in a fund management company.
(3) Generally, the initial minimum subscription amount of direct selling outlets has a fixed limit (in RMB), and the minimum additional subscription amount also has a limit, and there is no differential limit. (However, investors who have subscribed for the fund shares at any sales outlets are not subject to the initial minimum subscription amount).
(4) Generally, the minimum share of redemption has a fixed limit (in RMB), and there is no differential limit. Fund holders can redeem all or part of the fund shares. However, if the balance of a certain fund share in a certain outlet is less than a certain share due to a certain redemption, the remaining fund shares must be redeemed together.