It takes several days to buy a fund, which is probably the most important thing for a novice who just started to buy a fund. If they buy a fund but don't buy it for a long time, they will become nervous and feel cheated. Based on this, Bian Xiao tidied up a few days before purchasing the fund, hoping to provide some help to those in need.
Buy a fund and wait a few days to buy it.
New funds are generally open for purchase in about 3 months, because new funds generally have a closed period of 3 months (each fund is different and depends on each fund), and funds can only be traded after the closed period. The closure period of the new fund refers to the period when the new fund stops operating and is temporarily closed. First, the establishment of the new fund is to prepare for the fund's future subscription and redemption, and second, the establishment of the new fund is to allow fund managers to initially open positions.
After the establishment of the fund, it has entered a closed stage. During the closed period of the fund, the net value will be announced once a week, and the fund open day will generally be announced in advance. Investors can pay attention to the announcements issued by fund companies.
How many days does it take to confirm the fund? Are there any ups and downs during this period?
If the secondary market buys the funds in the market, it can get them on the same day and sell them the next day, just like stock trading. If the primary market purchases the old fund, it will be purchased before 3 pm on the same day and confirmed after 3 pm. T+2 can be redeemed, purchased after 3 pm, and confirmed the next day. Redemption is also t+2. If you subscribe for a new fund, there is usually a three-month opening period, during which there will be ups and downs, but you can't redeem it in advance.
How long has the fund been out?
There are two possible situations:
1, the fund is sold normally.
After the fund is bought, if the fund is to be redeemed normally, it is necessary to confirm the subscription share of the fund before submitting the redemption application.
For general money funds, bond funds, stock funds and hybrid funds, the fund confirmation time is T+ 1, that is, T+ 1 day subscription funds, and the fund company confirms the share on T+ 1 day. Investors can submit redemption application after T+ 15:00.
For example, if an investor purchases a fund before March 9 15:00, then the fund confirmation time is March 9 10, and the redemption application can be submitted after March 9 15:00.
It should be noted that:
The redemption of the fund will not arrive immediately, and we need to wait for the redemption confirmation time of T+ 1. For example, if an investor submits a redemption application after March 10 15:00, the redemption trading day will be March 1 1, and the redemption confirmation date and redemption fund arrival time will be March 12.
Theoretically, after the fund share is confirmed, you can apply for redemption at any time. However, except for money funds, most funds charge redemption fees, so short-term intraday trading of funds will increase transaction costs.
2. Withdrawal of funds
Some fund sales platforms also provide the function of fund withdrawal. For example, if an investor regrets buying a fund product and wants to withdraw his investment, he can submit an application for withdrawal within a limited scope.
Take Alipay's fund as an example. The Fund submits the subscription form on T, which can be withdrawn before T 15:00. If the withdrawal is successful, the subscription fee and redemption fee will not be charged, and the subscription funds will be returned to the payment account in the same way. Generally, the time when funds are returned to the account is the same day.
What is a fund?
From the perspective of capital relationship, the fund refers to the funds specially used for specific purposes and independently accounted for. Among them, including endowment insurance fund, retirement fund, relief fund, education reward fund, etc. In various countries, there are also special financial funds, collective welfare funds for employees, key construction funds for energy and transportation, and budget adjustment funds unique to China.
In terms of organizational nature, a fund refers to an institution or organization that manages and operates funds dedicated to specific purposes and conducts independent accounting. Such fund organizations can be non-legal institutions (such as financial special funds, college education incentive funds, insurance funds, etc.). ), public institutions (such as Soong Ching Ling Children's Foundation in China, Sun Economics Prize Foundation, Mao Dun Literature Prize Foundation, Ford Foundation and Huo Burridge Foundation in the United States, etc. ) or corporate institutions.
Types of funds
open-ended fund
Open-end fund refers to a fund in which the total amount of fund issuance is not fixed, and the total amount of fund shares increases or decreases at any time, and investors can purchase or redeem the fund shares in the business premises stipulated by the state according to the fund quotation.
close-ended fund
Closed-end fund refers to a fund whose total amount of issuance is determined in advance and the total number of fund shares remains unchanged during the closed period. After the fund is listed, investors can transfer and buy and sell the fund shares through the securities market.
Unit trust fund
Contractual fund, also known as unit trust fund, refers to the fund established by investors, managers and custodians as fund parties and issuing beneficiary certificates in the form of signing fund contracts. It is a kind of agency investment behavior organized on the basis of contract principle. There is no fund charter or company board of directors, but the behavior of the three parties is regulated through fund enterprises. The fund manager is responsible for the management and operation of the fund. As the nominal holder of the fund assets, the fund custodian is responsible for the custody and disposal of the fund assets and supervises the operation of the fund manager.
Company fund
Corporate funds are also called * * * mutual funds, which means that the fund itself is a company limited by shares. The company raises funds by issuing stocks or beneficiary certificates, and then invests in the investment consulting company entrusted by the company.
Growth fund
Growth funds: Yes, this is the most common type of fund. Long-term appreciation of such fund assets. In order to achieve this goal, fund managers usually invest their fund assets in the stocks of companies with high credibility, good long-term growth prospects or long-term surplus.
Income fund
Income-oriented funds mainly invest in securities that can bring cash income, with the aim of obtaining the maximum income in the current period. Income funds have little potential for asset growth and relatively low risk of principal loss, which can generally be divided into fixed income funds and equity income funds.
Balanced fund
Balanced fund is a fund that aims at obtaining current income and pursuing long-term value-added. Funds are usually dispersed in stocks and bonds to ensure the safety and profitability of funds.
public fund
Public Offering of Fund refers to the securities investment fund which is supervised by the competent government department and publicly issues beneficiary certificates to unspecified investors. For example, at present, the closed-end funds in the domestic securities market belong to Public Offering of Fund.
privately offered fund
Private equity fund refers to a collective investment that is not open to the public and raises funds privately from specific investors.
Stock fund
Equity funds refer to funds that mainly invest in the stock market. This is a relative concept. It does not require all funds to buy stocks, but a small amount of funds can also be invested in bonds or other securities. According to China's relevant laws and regulations, no less than 20% of fund assets must be invested in government bonds. Whether a fund is a stock fund is often judged according to the investment objectives and investment scope agreed in the fund contract. Domestic listed closed-end funds and most open-end funds are stock funds.
bond funds
Bond fund refers to all or most of the funds invested in the bond market. If all of them are invested in bonds, they can be called pure bond funds, such as Huaxia bond fund; If most of the fund assets are invested in bonds and a few can be invested in stocks, they can be called bond funds, such as Southern Baoyuan Bond Fund, which stipulates that bond investment accounts for 45%-95% of the fund assets and stock investment accounts for 0-35% of the fund assets. When the stock market is bad, you don't have to hold stocks.
Indexed securities investment fund
Index funds are funds invested in an indexed way. Simply put, it is to choose a market index to track and passively invest in the market, so that the income of the fund is consistent with the income of this market index.
Capital preservation fund
Capital preservation fund is a semi-closed fund. Within a certain investment period (e.g. 3 years or 5 years), the Fund not only maintains the potential to provide investors with additional returns by investing in other high-yield financial instruments (stocks, derivative securities, etc.), but also provides investors with a certain fixed proportion of principal return (e.g. 100%, 102% or higher). ). Investors can get the guarantee of principal return as long as they hold the due fund. In the case of large market fluctuation or overall market downturn, the capital preservation fund provides a low-risk investment tool with appreciation potential for investors who have low risk tolerance and expect to get higher interest returns than bank deposits and aim at medium and long-term investment.
Exchange traded fund
Exchange-traded funds (ETFs) refer to funds that can be traded on exchanges. Exchange-traded funds are still open-end funds in legal structure, but they are mainly traded in the secondary market by bidding; Moreover, cash subscription and redemption are usually not allowed, but a basket of stocks is used to create and redeem fund units. For ordinary investors, ETFs are mainly traded in the secondary market.
Listed Open-end Fund (LOF)
LOF(Listened Open Fund) refers to the open-end securities investment fund listed and traded on the exchange, also known as "listed open-end fund". LOF investors can purchase and redeem funds with the net value of funds through fund managers or their entrusted sales organizations, or they can buy and sell funds through the exchange market at the transaction price set by the trading system.
money market fund
Money market fund is a kind of fund that invests in short-term investment instruments with low risk and high liquidity, such as bank time deposits, commercial promissory notes and acceptance bills, so it has the characteristics of good liquidity, low risk and low income.
Comprehensive umbrella fund
Umbrella fund, also known as umbrella sub-fund or umbrella sub-structure fund, is an organizational form of fund. Under this organizational structure, according to a general fund prospectus, fund sponsors set up a number of funds that can only be converted according to the prescribed procedures and rates. These funds are called "sub-funds" or "component funds"; The fund system composed of these sub-funds is called "umbrella fund".
special fund
Special fund refers to stock fund products that invest funds in specific industries. Compared with general stock funds, special funds effectively narrow the scope of investment and are more targeted in choosing investment targets; Fund managers can concentrate their main R&D energy on established industries, which not only improves the specialization of investment management, but also reduces management costs to some extent. Take the American fund industry as an example. The common investment fields of specialized funds are high-tech, mass media, health care, finance, public utilities, natural resources and real estate.
sinking fund
The sinking fund is also called "debt reduction fund". A special fund set up by the state or the issuing company to repay outstanding public bonds or corporate bonds; Many developed countries have established sinking fund systems. Japan's sinking fund system was determined according to the special accounting law of the national debt consolidation fund in Meiji 39. Sinking funds are generally set up in the form of installment repayment of bonds. Generally speaking, debt repayment funds are drawn from the surplus of the issuing company in a certain proportion every year, or from a fixed amount or the proportion of bonds issued every year.
Government bond fund
Government bond funds refer to funds that invest exclusively in securities directly or indirectly guaranteed by the government. The objects of technical capital include treasury bills, treasury bills, government bonds and bonds issued by government agencies. The biggest advantage of investing in this fund is its high security. Because of the government guarantee, the income is relatively stable and the liquidity is large.