Are there any special restrictions on the public offering of funds to buy and sell stocks? For people who have just come into contact with stocks, buying and selling stocks in Public Offering of Fund is a relatively unfamiliar field. So, are there any special restrictions? The following are the rules for buying stocks by public offering compiled by Bian Xiao, hoping to help everyone.
Provisions on public offering of shares
There are mainly position restrictions on Public Offering of Fund's investment in stocks, but there are no clear restrictions on the types of stocks. The specific position restrictions are as follows:
1, the proportion of equity funds investing in stocks is not less than 80% of the fund assets;
2. The proportion of partial stock funds investing in stocks should be between 60% and 80%;
3. Balanced funds invest 50% in stocks and 50% in bonds;
4. The proportion of partial debt funds investing in stocks is not less than 30%.
Public Offering of Fund should follow the principle of "double ten" when investing in stocks: a fund holding the same stock should not exceed10% of the fund assets; All funds managed by the same fund manager of the same fund company shall not hold more than 10% of the market value of the same stock.
In addition, Public Offering of Fund can invest in st stocks and ST stocks, and there is no clear legal restriction, unless most of the stocks warned by risks have poor performance or the management of the company has committed major illegal acts, because in order to ensure the income of the fund and the interests of investors, Public Offering of Fund rarely invests in stocks warned by risks.
Provisions on the sale of stocks by publicly offered funds
A shares fluctuate greatly, excellent and stable products are sought after, and the "champion fixed income+"fund is also restricted.
On February 2 1 day, Anxinmin, the champion fund with a positive income of 7.6% in this year's shock, grew steadily and announced the implementation of a large purchase restriction, with a daily purchase restriction of 500,000 yuan. The daily limit of some long-outstanding funds is only 10 yuan. At present, there are 124 "fixed income+"funds.
A number of fund industry insiders said that in order to protect the interests of holders, make long-term investments and restrict the purchase of "fixed income+"funds with good short-term performance, which is conducive to the steady growth of fund scale and the sustainability of investment performance. They also suggested that investors should not blindly pursue products with short-term performance or excellent resilience, but also rationally analyze comprehensive indicators such as long-term performance, maximum retracement and capital volatility from the perspective of long-term investment, and make rational investment and value investment.
"Champion Fund" implements purchase restriction.
You can buy up to 500 thousand a day
On February 2 1 day, anxin fund announced that in order to protect the interests of fund share holders, Anxin Min, a subsidiary of the company, has steadily increased and mixed, and will suspend the large-scale subscription, large-scale conversion and large-scale fixed investment business of the fund from February 22, with the limit not exceeding 500,000 yuan (including 500,000 yuan).
Are there any restrictions on the fund buying and selling stocks?
Recently, China Securities Regulatory Commission issued the latest issue of Institutional Supervision Announcement, clearly proposing that fund managers with weak long-term investment concept, high investment turnover rate and "style drift" should take prudent measures such as suspending the application of fast registration mechanism, prudent evaluation and on-site verification during the statutory registration period. The issuance of this notice implements the previous opinions of CSRC on accelerating the high-quality development of Public Offering of Fund industry, which is conducive to further standardizing the development of fund industry.
The so-called fund style drift, in layman's terms, is "selling dog meat by hanging sheep's head". For example, according to the contract of a hybrid fund product in the market, the proportion of the product invested in securities related to the theme of cultural and sports health shall not be less than 80% of the assets of non-cash funds. However, according to the first quarterly report this year, its top ten heavyweight stocks are concentrated in new energy, chips, military industry and other sectors, and only a few stocks are related to the theme of cultural and sports health. There are not a few such funds today.
The reason why fund style drift is supervised.
If the fund industry wants to achieve high-quality development, style drift is not desirable. In order to avoid the frequent occurrence of similar problems, first of all, fund investment institutions should improve their investment and research capabilities. For fund managers, investment must be based on in-depth and solid research. Only by constantly improving their investment and research capabilities can they have confidence and be able to analyze and judge independently in the face of market fluctuations. Avoid excessively aggressive pursuit of short-term gains when the market rises, and control the retracement when the market falls to avoid the ups and downs of the fund's net value.
Secondly, we should continue to strengthen investor education. At present, many investment institutions operate frequently, and some passively accept customer redemption. It should be noted that a mature capital market is inseparable from mature investors, and mature investors are of great significance to stabilizing the market. Statistics show that the number of citizens in China has exceeded 720 million. In such a huge number of investors, nearly 70% can't effectively stop loss, and most investors' understanding of the market and risks needs to be improved. Investors should truly understand the meaning of market fluctuation, have a correct understanding of risks and guide customers to adhere to the concept of value investment and long-term investment.
Third, further optimize the product structure. Most investment products need time to accumulate in order to create rich returns and benefits. It is necessary to continuously optimize the product structure, increase the proportion of medium and long-term products, give investment managers more time to lay out, and avoid the impact of frequent customer redemption on income.
Steady operation is an important foundation to promote the high-quality development of fund industry, and innovation is an important guarantee for the healthy development of fund companies. Changing investment style and investment concept is a long-term project, which requires not only fund companies to improve their comprehensive ability, make corresponding adjustments to their business models, but also increase investor education.