How to put it in layman's terms: raising funds.

Li Yueliang

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My Notes on Fund Learning (X) Common nouns in funds.

From my fund study notes column

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Common fund terms include: subscription, subscription, redemption, fund net value, fund share, fund market value, opening positions, adding positions, covering positions, Man Cang, semi-opening positions, heavy positions, light positions, short positions, closing positions, long positions, short positions and short positions.

Subscription: purchase funds during the raising period;

Subscription: purchase funds during the open period;

Redemption: selling the fund;

Net fund value: 1 what is the value of the fund;

Fund share: that is, how many copies have you bought;

Fund market value: refers to the fund you bought, and how much it is worth at this time; Market value of fund = net value of fund unit on that day x fund share.

Open position: refers to the first time to buy a fund.

Position: the fund share held by investors.

Masukura: refers to the increase in the net value of the fund bought when the position is opened, and the subscription continues to increase.

Cover position: refers to the decrease of the original fund net value and the fund is covered by a certain amount. At this time, buy funds at a low level and spread costs. (quilt cover-simply put, the fund that investors bought with a certain net value fell below that net value. For example,1.What 2 yuan bought fell to 0.98 yuan, which means that investors were trapped by the fund's 0.22 yuan).

Man Cang: It's like buying all the investors' funds, just like the warehouse is full. Money is called a big family, and money is called a banker; Small amounts are called retail investors, and small amounts are called small retail investors.

Semi-warehouse: that is, half of the funds are used to buy funds and half of the cash is still in the account. If it is called 70% warehouse and 70% capital ... and so on. If an investor has 20,000 yuan and 1000 yuan to buy a fund, it is a semi-position, which is called semi-position operation. It shows that the funds are not fully invested, which is a measure to reduce risks.

Awkwardness: Awkwardness refers to the fact that this fund buys a stock, and the invested funds account for the largest proportion of the total funds. This stock is the heavyweight stock of this fund. Similarly, if an investor buys three funds and 70% of the funds are invested in one of them, then this fund is the investor's heavy position.

Light warehouse: Light warehouse is relative to heavy warehouse, and vice versa.

Short position: that is, all funds are redeemed and all funds are obtained. Or someone redeems all the funds and has cash in his hand.

Close position: Close position is easily confused with short position. Please pay attention to the difference. Closing a position is buying and selling, or selling before buying. Specifically, for example, the value of E Fund is redeemed today. After the redemption funds arrive, the redeemed funds are purchased and invested in the growth pioneer, which is equivalent to adjusting your fund holding portfolio, but the total amount of funds remains unchanged. If it is a bull, it is the closing of the subscription fund; If it is short, it is redemption fund liquidation.

Do more: it means to be optimistic about the market outlook, and now subscribe for a fund with a low net worth and wait for the net worth to rise.

Short: think that the market outlook is bearish, and redeem the fund first to avoid greater losses. When the net value really falls, buy and close the position, and then earn the difference when the net value rises.

Empty: Because the net value of the fund has been rising, the net value is always above its psychological price, so it is impossible to purchase at the predetermined price. It's called stepping on the air all the way.

Short selling: refers to the strong rise of the fund and the rise of its net value, which makes the short sellers (that is, those who sell in advance after the bearish market outlook) have never had a good opportunity to intervene, and the losses have been expanding, and finally they have to buy and close their positions at a high level. This process is called forced air.

1, fund contract

The fund contract is a "entrusted financial management agreement". It is a written legal document made by fund managers, fund custodians and fund investors to clarify the rights and obligations of all parties to the fund. The main contents of the fund contract include: the rights and obligations of the fund holder, manager and custodian; Issuance, purchase, redemption and transfer of funds; Investment objectives, scope, policies and restrictions of the fund; Valuation method of fund assets; Information disclosure of funds; The expenses of the fund; Income distribution and taxation; Fund termination and liquidation.

2. Fund managers

Fund manager refers to an institution with professional investment knowledge and experience, which manages fund assets according to laws and regulations, fund articles of association or fund contracts, aims at maximizing the income of fund holders, and seeks the continuous appreciation of fund assets.

3. Fund custodian

The fund custodian is the representative of investors' rights and interests, and is the nominal holder or management institution of fund assets. In order to ensure the safety of fund assets, the Fund operates according to the principle of separating asset management from asset custody, and the Fund has a special fund custodian to keep fund assets.

4. Fund raising period

The fund raising period refers to the period from the announcement of the prospectus to the establishment date of the fund.

5. Term of the Fund

The duration of the fund refers to the duration after the successful issuance of the fund and a closed period.

6. Fund Open Day

The fund open day is a working day when you can go through a series of procedures such as opening an account, purchasing, redeeming, closing an account, reporting the loss and transferring money. For open-end funds, trading is not allowed on any working day. Therefore, it is stipulated that transactions should be conducted on certain working days every week, which are called open days.

For more fund research notes, please see the following links, or check the home page to find related articles.

Li Yueliang: My Fund Learning Notes (1) What is an index fund?

Li Yueliang: My Notes on Fund Learning (2) How to Choose Index Funds?

Li Yueliang: Notes on Fund Learning (III)-Fixed Investment of Fund

Li Yueliang: My Notes on Fund Learning (IV) —— Fund Purchase and Fund Fixed Investment Channels

Li Yueliang: My Notes on Fund Learning (5)-How do funds make profits?

Li Yueliang: My Notes on Fund Learning (VI) What do A and C after Fund mean?

Li Yueliang: My Fund Learning Notes (7) What are the common index funds?

Li Yueliang: My Fund Learning Notes (8) How to view market data?

Li Yueliang: My Notes on Fund Learning (9) Fund Valuation and Fund Net Value

Risk warning:

Capital is risky, so you need to be cautious when entering the market.

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