Investors switching funds before three o'clock is equivalent to selling old funds and buying new funds before three o'clock. Investors change funds after three o'clock, which is equivalent to selling old funds and buying new funds before three o'clock on the next trading day. There is no blank period for fund conversion income.

The fund implements T+ 1 transaction. If the fund is bought on the trading day, it is calculated according to the net value at the close of the buying day. The share is confirmed on the second trading day, and the income is calculated after the share is confirmed.

The advantages of fund conversion and fund trading are: saving time and handling fee.