At the end of each year and the beginning of each year, graded funds will be converted regularly. The essence of graded funds is that Grade A lends money to Grade B stocks, and Grade B pays Grade A "interest", which is the rate of return agreed in the contract.

The end date of capital verification is the fund share conversion date, and the fund manager will convert the fund share so that the net value of the fund share on the end date of capital verification is 65,438+0.0000 yuan. Then, according to the net value of the fund shares on that day, the fund shares that investors should get for centralized subscription are calculated, and the shares that investors should purchase for centralized subscription are registered and confirmed by the registration institution.

Extended data:

On the premise that the net asset value of the fund remains unchanged, the total share of the fund will be adjusted according to a certain proportion, so that the net asset value of the fund unit will be reduced accordingly. After the share conversion, the total amount of fund shares and the number of fund shares held by the holders will be adjusted.

However, the proportion of the fund shares held by the adjusted holders to the total fund shares will not change. The conversion of shares has no substantial impact on the rights and interests of the holders. For details, please refer to the relevant announcements of fund share conversion.