Harvest CSI 300 is an open-end equity fund (LOF) under harvest fund Management Co., Ltd., and its investment style is passive index. The index it is trying to copy is the Shanghai and Shenzhen 300 Index. From August 2007 to August 2008, the net value trend of Harvest CSI 300 was basically the same as that of CSI 300, with an average daily tracking error of 0. 15% and an annualized fitting deviation of 2.3655. Since its establishment, the Fund's net growth rate has been 145.438+0%, ranking among the top index funds of its kind. Judging from the share of the fund, the share has gradually increased, far exceeding similar products, and has remained above 30 billion yuan since the fourth quarter of 2007, which fully shows that it has been highly recognized by the market. The stock market has dropped from more than 6,000 points to more than 2,400 points now, with a drop of more than 60%. At present, the price-earnings ratio is around 19, and the valuation is reasonable. Moreover, most of the indexes tracked by the fund are large-cap stocks, and the heavyweights such as China Merchants Bank, Ping An Insurance, China Shenhua and CITIC Securities have good long-term growth. Judging from the recently announced performance, although affected by fundamentals, the performance of these companies is still good. In addition, the Olympic market did not appear as expected. Instead, the two cities plunged, and the Shanghai stock market fell below 2400 points. The long-term bottom has appeared, and the long-term investment value has already appeared. Therefore, investors are advised to seize the rare long-term strategic opportunity and open positions in batches at the irrational moment of the market.
First, don't worry about the liquidation of the fund. .
In a bear market, I suggest that if you are not in a hurry to spend money, you can put it aside and sell it when it rises. Now that we have lost a lot, the fund will be more effective in the long run! Generally speaking, it is more dangerous for a fund to fall to 0.5 yuan, and it will not fall to 0. Rest assured, even if the stock is delisted, there will be no price of 0!
According to the relevant laws and regulations of China's funds, if the net asset value of the fund is less than 50 million yuan for 60 consecutive days, or the number of fund share holders is less than 65,438+000 for 60 consecutive days, the fund manager has the right to announce the termination of the fund after approval by the China Securities Regulatory Commission. In case of the above situation for 20 consecutive working days after the contract comes into effect, the fund manager shall explain the reasons and submit a solution to the China Securities Regulatory Commission.
From this perspective, 50 million is really the life and death line of the fund. According to the regulations, the scale of the fund should be disclosed in the quarterly, semi-annual and annual reports of the fund. Recently, the fund's 2007 annual report is about to enter a period of intensive disclosure. Mr. Cao Can used the annual report disclosed by the fund to inquire about the scale. If the net asset value of the fund is less than 50 million yuan for 60 consecutive days or the number of holders is less than 100, the fund can enter the liquidation procedure.
A fund has to go through many complicated procedures from approval, raising, establishment to operation, so the fund company will not easily let the fund liquidate and delist. For example, it is very practical to buy its own funds and keep them above the warning line.
Last year, the products of bond funds and some small fund companies have shrunk dramatically, but most of these funds have expanded their scale through continuous marketing and large-scale dividends. Moreover, since the beginning of this year, the product performance of some small fund companies has been outstanding, and it is believed that the scale has increased. It is still too early to talk about liquidation. So you don't need to worry too much about the liquidation of the fund.
Second, it is very painful for anyone to see the current market and watch their funds being swallowed up bit by bit ~ ~ but we still have to think about how to minimize their decline, don't you think? So now let's rationally look at what we should do!
1. Analyze the reasons for the decline of your fund.
There are many reasons for the decline in the net value of funds, which may be the deterioration of the market or the decline in the management level of fund companies. There are also many cases of net value decline, which may be temporary or long-term. When the net value of the fund falls, the first thing you should do is to analyze and judge carefully, because different reasons and situations should have different ways to deal with it.
If the decline in the net value of the fund is due to major changes in the fund management company, and there is no sign of improvement in the short term, then you should consider selling the fund.
However, if the net value of the fund falls because the market situation has changed, then you'd better not make a hasty decision, because the market changes are unpredictable.
The securities market is a rising market, with fluctuations and risks in the short term, but the long-term trend is consistent with the fundamentals of economic development. Under the long-term upward trend, it is difficult to grasp the short-term fluctuations of the market. You should treat the short-term fluctuations of the market with a normal mind and pursue the stable appreciation of capital through long-term investment.
2. Besides redemption, what are the strategies after the loss?
Fund conversion and moderate Masukura may be both options.
At present, most fund management companies that manage more than three funds have opened the conversion business of their different funds. If investors buy a fund with poor performance and another fund with good performance, they can consider switching. Another common situation is to switch from high-risk varieties to low-risk varieties when the market fluctuates greatly, and quickly switch from low-risk varieties to high-risk varieties when the market rises. The cost of conversion is lower than that of subscription and redemption.
Under the current circumstances, if investors are not satisfied with the positions of their investment funds, they can also consider adding positions moderately.