What does the long-short graded fund mean? Investment skills of graded fund b
At the end of June, Huaxia Fund reported that the long-short classified products were accepted by the CSRC, and so far three such products have been reported. So far, a total of 33 long-short graded fund products are waiting for the "birth certificate". The industry expects that such products will gradually approach. According to the disclosure of the CSRC, in March, the China Merchants Shanghai-Shenzhen 300 Index, which was entrusted by China Bank, was accepted by the CSRC. On April 8th, Harvest SSE's 50-level initiated money market fund was accepted, and the reporting date was March 3rd1,which was deposited with China Bank. On June 25th, China Construction Bank Huaxia CSI 500-odd short-graded initiating fund was accepted for raising. The industry interprets this as the approval of long and short graded funds is advancing.
The data shows that among the products reported in 20 13, there are still 3 1 products that have not obtained the "birth certificate", of which 30 are long-short graded funds, which are divided into long-short graded LOF or ETF products, and products reported this year, such as leverage and reverse ETF, are mostly initiated long-short graded funds.
Some fund companies said that the market expects that the regulatory authorities may start the review process and have not heard the clear news of the gate opening. However, the long and short fund products are very innovative, and most fund companies are full of enthusiasm for them. Large and medium-sized fund companies have the desire to lay out such products.
A person from a fund company in Shanghai also said that the mechanism of long-short graded funds is relatively complicated, and the short-selling function of the market is still limited to a certain extent, which requires a very high system. Technically, the preparation is not sufficient. "The approval time of equity long-short graded products with simple design may be earlier, while the leveraged long-short graded funds may be one step later, and the design of morning paper products is complex and may take longer."
Another Shanghai fund company that reported such products said that there are two major obstacles in long-short classified products, one is the audit problem, and the other is the system adjustment problem. The long-short classified products reported by the company have designs such as listing and trading, pairing conversion and so on. , high requirements for the system, inadequate preparation.
In fact, Huatai Securities, GF Securities and other similar long-short asset management products are in high demand in the market. But it is not easy for fund companies to operate many empty graded funds. The product guidelines for long-short graded funds issued by the China Securities Regulatory Commission at the end of last year require that when investors buy sub-shares of long-short graded funds for the first time, the assets in their securities accounts should not be less than 500,000 yuan, the initial leverage ratio of long-short graded funds should not exceed 2 times, and the maximum leverage ratio should not exceed 6 times, which has no advantage over stock index futures.