not equal to.

Shares sold refer to the number of fund shares sold, and the amount sold refers to the total value of the fund sold. The net value of the fund is equal to the fund shares multiplied by the net unit value of the fund.

Fund shares refer to certificates issued publicly by the fund sponsor to investors, indicating that the holder has the right to income distribution, the right to acquire residual property after liquidation and other related rights based on the shares held by the fund holder, and bears corresponding obligations.

The fund shares of closed-end funds can be traded on securities exchanges established in accordance with the law. If funds using other operating methods need to be listed and traded, the State Council is authorized to make separate regulations.

Therefore, the so-called listing and trading of fund shares refers specifically to the listing and trading of fund shares of closed-end funds.

The listing and trading of fund shares means that upon application by the fund manager and approval by the securities regulatory authority of the State Council, the fund shares are listed on the stock exchange and purchased and sold through public centralized bidding.

If you apply to sell the fund units you hold at the published price and get the cash back, it is customarily called fund redemption.

The redemption of the fund is the sale.

Listed closed-end funds are sold in the same way as general stocks.

Open-end funds hold all or part of the fund on hand, apply to sell it to the fund company, and redeem the price.

The amount received from redemption is the number of units of the fund sold multiplied by the net value on the day of sale.

1. Will the shares be determined the next day when the fund is sold?

The number of shares sold by the fund is determined, and the fund conducts transactions according to the trading method of buying by amount and selling by shares.

Investors need to enter the selling share when selling a fund.

The sale of the fund confirms the investor's redemption application the next day.

Since fund subscription and redemption follow the principle of unknown price, if the redemption is done before 15:00 on the trading day, the closing net value of the day will be the redemption price; if the redemption is done after 15:00 on the trading day, the redemption price will be

The closing net value of the two trading days is the redemption price.

2. Why can’t the fund shares be sold out?

When it comes to fund shares, we must mention closed-end funds and open-end funds. The quota of closed-end funds is fixed and will be gone once it is sold out. But open-end funds are different. There is no upper limit on the quota. As long as investors subscribe, they can get it.

Fund shares.

Therefore, if some investors feel that the fund shares cannot be sold out, it is because the investor usually comes into contact with open-end funds.

That's why there is this misunderstanding.