According to some fund companies, holding a fund for seven days means that the natural days between buying and selling funds reach seven days, including weekends and various legal holidays.
Suppose you buy a fund confirmed by T+ 1 and apply for subscription before Monday 15:00, then Tuesday is the confirmation date of fund subscription, which is exactly 7 days from this Tuesday to next Monday. If you redeem it next Monday, you don't have to pay the redemption fee at the rate of 1.5%.
However, before that, the redemption fee will be paid at the rate of 1.5% (PS: according to the new liquidity regulations, 1 day is calculated from the confirmation date of the subscription fund, and the redemption confirmation date is no longer calculated).
Extended data:
Fund transaction fee
I. Subscription fee
Subscription fee refers to the handling fee paid when buying a new fund during the raising period. The general handling fee is between 0.8%- 1.2%. The subscription fee for bond funds is low, while the subscription fee for stock funds is high. It is generally a step-by-step charging method. The more the subscription amount, the lower the rate, and some funds will not be discounted when they are newly launched.
Second, the subscription fee
The subscription fee is the fee for purchasing the fund during the opening period. Different from the subscription fee, the subscription fee is charged when buying a new fund, and the subscription fee is charged when buying an old fund. The subscription fee is generally between 0.8%- 1.5%. Money funds do not charge subscription fees, bond funds have low subscription rates, and stock funds have high subscription fees.
Subscription fees are also charged according to the ladder. The larger the subscription amount, the lower the rate. But now most online platforms of sales organizations offer a discount of 1 on the front-end subscription fee, which greatly reduces the fund transaction cost of individual investors.
Three. Redemption fee
Redemption fee refers to the fee paid by the holder when selling part or all of the shares. The redemption fee is divided according to the holding time. The longer he holds the fund, the lower the redemption rate. If it is held for more than a certain period of time, the redemption fee will be exempted.
In order to prevent some investors from arbitrage and affect the smooth operation of the fund, the new regulations stipulate that if the holding time is less than 7 days, the fund will be charged a punitive redemption fee of not less than 1.5%, and all of them will be included in the fund assets.
This not only protects the interests of the holders, but also encourages investors to insist on long-term investment and not to buy and sell frequently, otherwise the income of the fund may not be worth the handling fee. Of course, as a cash liquidity management, the money fund has no redemption fee.
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