What is a bond ETF? As a bond index fund, bond ETFs (bond exchange-traded open-end index funds) allow investors to obtain the average expected annualized expected return of the bond market represented by the underlying index through investment holdings.
Investors can not only subscribe and redeem in the primary market, but also buy and sell in the secondary market. They can also conduct arbitrage in the primary and secondary markets, and use it as a tool for spot arbitrage and interest rate spread arbitrage in the future.
How do investors buy and sell bond ETFs, and what matters should they pay attention to? After the bond ETF is listed, investors can buy and sell ETF shares through securities companies during the trading hours of the Shenzhen Stock Exchange, and the transaction will be completed at the matching price of the trading system.
(1) The purchase and sale of bond ETFs is declared in units. The minimum price change unit is RMB 0.001. The minimum buying unit is 100 fund units (i.e. "1 lot"). The minimum selling unit is 1 fund unit. Bulk quantities are also applicable.
Relevant rules for transactions; (2) Bond ETF transactions are subject to a price limit of 10%, which will be implemented from the first day of listing; (3) Bond ETFs implement same-day reversal trading, that is, bond ETFs purchased on the same day
, can be sold on the same day.
How do investors subscribe and redeem bond ETFs, and what matters should be paid attention to? During the period when bond ETFs are open for subscription and redemption, investors can handle the subscription and redemption of funds through a securities company that is a subscription and redemption agent.
The following matters should be noted: (1) The reporting time is the trading hours of the Shenzhen Stock Exchange, except when the fund manager announces the suspension of subscription or redemption business.
(2) Subscriptions and redemptions are declared in units, and each declaration must be an integral multiple of the minimum subscription and redemption unit.
(3) Investors should prepare sufficient consideration according to the subscription and redemption list announced by the fund manager on that day, including portfolio securities, cash substitution, cash difference and other considerations.
(4) Subscription and redemption applications cannot be canceled after submission.
When will the net fund share value of bond ETFs be announced? The calculation of the net fund share value of bond ETFs will be completed on T day and will be announced on the Shenzhen Stock Exchange website and the official website of the fund company on T + 1 day.