The second initial fund is a kind of surviving fund, which is a kind of centralized sales behavior carried out by fund companies in order to expand the scale of a fund product. Generally speaking, the second initial fund product often has a good early performance, but the fund share is small (that is, the performance is ok, and the market funds are not recognized), so the fund company has the need to increase the scale of this product.

After a certain period of closure, the operator decided to open the subscription, subject to the net value of the day, and then enter the closed shipment after the opening period. This means a second subscription. The handling fee varies from company to company and will be publicized according to the regulations.

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The influence of "the second IPO" on the fund

In fund investment, the change of share will often affect the stability of fund investment. For example, the scale will increase greatly in the short term. Because it takes time for fund managers to invest in opening positions, the yield of unit fund shares will be diluted in the short term, which is unfair to the original fund holders; The scale is greatly reduced in the short term, and fund managers need to reserve a large amount of cash for redemption, which will also have a negative impact on passive lightening.

In order to maintain the stability of fund operation during the "second initial public offering" and slow down the adverse impact of increased share on fund performance, fund companies usually require fund managers to appropriately reduce their absolute positions, pay attention to risk control and perform their duties as managers.

Therefore, when the market is good, the original fund holders may lose the opportunity cost of market rise in the short term, but there will be a relatively safe "boarding" environment for new investors; When the market is not good, the original fund investors may avoid a sharp withdrawal of performance, and new investors may also bear the risk of the next market adjustment.