What are the subscription fees and subscription fees of the fund?
It's the fee you have to pay for investing in a partnership, because it costs a lot of money for fund companies to publicize activities to attract investors, and these expenses naturally cannot be paid by others. In addition, by increasing the cost of your participation, you will reduce your desire to leave soon after joining the partnership.
How much is the redemption fee of the fund?
In other words, you have to pay the price for recovering your investment and income for similar reasons. Another is that some people withdraw their capital, and the fund may have to sell some bond stocks in order to pay back your cash. This is an act that is not good for the assets of the fund, and it also has a bad influence on the interests of other partners who do not withdraw their shares, so let you leave some expenses as compensation.
How much is the conversion fee of the fund?
That is, the same fund company operates multiple funds. If you hold one of the funds and want to exchange it for another fund operated by the fund company according to the same amount of assets, you have to pay the conversion fee to the fund company. The reason is the same as the above two, mainly to increase the cost of your replacement and prevent you from changing frequently.
What is the fund transaction commission?
It is the service fee charged by the business department of the securities company that provides trading services for you when the listed fund is transferred in the exchange market.
Why are there so many types of securities investment funds?
This is because different funds have different main investment directions and investment targets.
Equity funds are funds that invest most of their funds in the stock market;
Bond funds are funds that invest most of their funds in the bond market;
Hybrid funds are funds that invest part of their funds in stocks and the other part in bonds according to the situation (of course, this investment ratio can be changed and adjusted), and even part of their funds can be invested in other varieties according to prior regulations;
Money market funds are all kinds of short-term securities whose assets are only invested in the money market (low risk and low return).
The order of investment risks of these funds from high to low is roughly: stock funds, hybrid funds, bond funds and money market funds.
Because of the different risks, investors should choose the fund suitable for the risk level according to their own risk tolerance, and they can also spread risks and balance the income level by investing in some low-risk, medium-risk and high-risk funds. This behavior is called portfolio.
What are the names of different funds such as growth, value, industry, blue chip, small cap, cycle and consumer goods? ? They put the main investment strategy on the name, so that investors can see at a glance. Of course, it does not rule out that some funds just wanted to find a good name for the CSRC at that time, so that it was easy to approve the establishment.
◆ Preparation process
Before purchasing a fund, investors need to carefully read the prospectus, fund contract, account opening procedures, trading rules and other fund-related documents, and all fund sales outlets should have the above documents for investors to consult at any time.
Individual investors are required to carry the debit card of the agent bank and valid identification documents (ID card, military officer's card or armed police card), and institutional investors are required to carry the original business license, organization code certificate or registration certificate, as well as the official seal copy of the above documents, power of attorney, agent's ID card and copy.
With the preparation materials, the customer goes to the bank counter to fill in the application form for fund business, and then receives the business receipt. Individual investors also receive fund trading cards, and they can go to the counter to receive business confirmation two days after handling fund business. Units or individuals can engage in fund subscription and redemption after receiving business confirmation.
◆ How to buy?
After completing the preparation for opening an account, citizens can choose their own time to buy funds. Individual investors can bring the debit card and fund trading card of the correspondent bank to the counter of the agency outlet to fill in the Application Form for Fund Trading (institutional investors need to affix the reserved seal), and must submit the application before the day of subscription 15: 00, and the counter will accept and receive the receipt of fund business. Two days after handling the fund business, investors can print the business confirmation at the counter.
◆ How to redeem?
When investors intend to redeem their funds, they can bring the debit card and fund trading card of the opening bank, and also fill in and submit the transaction application form before 3: 00 pm. After being accepted at the counter, investors can inquire and redeem the fund after five days.
◆ How to quit?
If trading investors need to cancel trading, they can bring their fund trading card and bank debit card to the counter before the trading day 15, fill in the trading application form and indicate the cancellation of trading. If it is after 15, some banks can make an appointment for trading according to the quotation of the day and trade the next working day. At present, almost all banks and fund management companies support online trading funds.
Recently, many netizens often ask what the fund is about, as if the fund is a very complicated thing, and they all say that they can't understand the fund knowledge articles recommended for reading. So I often think about how to make these friends understand what a fund is and show it to you in the shortest time, so I have an idea to explain what a fund is in popular language as much as possible, hoping to help these friends understand the fund as soon as possible.
Suppose you have a sum of money to invest in bonds, stocks and other securities to increase the value, but you have no energy or professional knowledge, and the money is not too much, so you want to invest in partnership with other 10 people and hire an investment expert (theoretically higher than me) to operate the assets invested by everyone to increase the value. But there, if investors above 10 negotiate with investment experts at any time, it won't be chaotic, so they recommend a person who knows the most to take the lead in this matter. Give him a certain percentage of everyone's assets on a regular basis, and he will pay the master service fee on his behalf. Of course, he will take the lead in making arrangements for big and small things, including running errands from door to door, reminding the master of risks at any time, and regularly announcing the investment profits and losses to everyone. , so I didn't come for nothing, and the money in the commission also has his service fee. These things are called partnership investment.
Enlarge this partnership investment model by 100 times and 1000 times, which is the fund.
This kind of private partnership investment activity belongs to private equity fund if a complete contract is established between investors (which has not been recognized by the relevant laws and regulations of the national financial industry supervision in China).
If this partnership investment activity is approved by the national securities regulatory authority (China Securities Regulatory Commission), and the lead operator of this activity is allowed to make a public offering to attract investors to join the partnership investment, this is the issuance of publicly offered funds, which is a common fund now.
What is the role of fund management companies? The fund management company is the lead operator of this kind of partnership investment, but it is a corporate legal person, and its qualification must be approved by the China Securities Regulatory Commission. Fund companies, like other fund investors, are also partners. On the other hand, due to its leading operation, it is necessary to extract service fees (called fund management fees) from the assets jointly produced by everyone every year, manage investment experts (fund managers) who are responsible for transactions on behalf of investors, and help experts collect information and engage in research, and regularly announce the assets and income of the fund. Of course, these activities of fund companies are approved by the CSRC.
In order to ensure the safety of the assets produced by all of us, the lead operator of the fund company will not steal or misappropriate them. China Securities Regulatory Commission stipulates that the assets of a fund cannot be placed in the hands of fund companies, and fund companies and fund managers only care about trading operations and cannot touch money. Find someone who is good at this matter and has high bookkeeping credit. Of course, this role definitely belongs to the bank. So these contributions (that is, fund assets) are placed in the bank, and a special account is built, which is kept by the bank and called fund custody. Of course, the service fee of the bank (called fund custody fee) must be paid from the assets of the partnership every year. Therefore, relatively speaking, fund assets only have the risk of loss caused by poor operation of experts, and there is basically no risk of theft. From a legal point of view, even if the fund management company goes bankrupt or even the custodian bank has an accident, the person who collects debts from it has no right to touch the assets in everyone's fund account, so the security of fund assets is very guaranteed.
If this kind of Public Offering of Fund is announced to be established after raising investors within the prescribed time limit (the state stipulates that it must have at least 1 000 investors and the scale can reach 200 million yuan before it can be established), it will stop attracting other investors and stipulate that no one can withdraw from the fund halfway. However, until some month in the future, all of us will have to settle accounts and share the burden. If you want to cash in halfway, you have to find someone else to sell it yourself. This is a closed-end fund.
This kind of Public Offering of Fund, if declared, still welcomes other investors to invest at any time, and at the same time allows everyone to withdraw their own funds and due income at any time. This is an open-end fund.
Whether it is a closed-end fund or an open-end fund, if it is convenient for everyone to buy and sell, we will find an exchange (securities market) to list the fund and trade it freely among investors at the market price. This is a listed fund.
The number of times each fund needs to pay dividends each year is stipulated when raising funds, and there is no fixed dividend or split provision.
Dividend is that the fund company must sell some shares to the dividend-paying fund holders, which may sell the stocks that have risen just right in their hands and affect the operation of the fund.
Split is to change the original high net value into the net value of 1 yuan, so that for the fund company, it is not necessary to buy shares to get cash, and for the holder, it is equivalent to dividing the original 1 share into many shares.
Some people will like a fund that pays dividends regularly, because it is safe to fall into the bag, but it is more difficult for fund companies to operate and their profitability is affected.
The longest closure period of the new fund is 3 months, but it can be advanced.