Double Happiness CSI Index Fund * * * consists of three funds: Double Happiness CSI Index Fund+Double Happiness A+ Double Happiness B. 10-point Double Happiness CSI Index Fund Share =4-point Double Happiness A+6-point Double Happiness B. Therefore, its initial leverage is 1.5 times. But this leverage coefficient will change with the change of share.
Fund companies buy a lot of index stocks to fit the CSI index. There is an error in the operation of this fitting process. This error is called deviation.
There are many reasons for the fund's rise, but why do financial stocks not rise and the fund's sales price rise? The reason for my analysis is:
The transaction price of fund shares in the secondary market has risen, and it has risen a lot. This price has exceeded the net value of the fund share, which is called "premium", with a lot of premium. For example, it rose by about 14% this month. Many investors buy a large number of fund shares from the primary market and sell them in the secondary market after splitting, thus promoting the fund to rise more. This buying and selling process in the primary market and the secondary market is called "arbitrage". Because of this arbitrage process, this fund is an incomplete "futures fund" with futures arbitrage function.