Many investors are keen to subscribe for new funds, especially those managed by star fund managers. They think that the new fund is the most cost-effective fund, because the new fund is generally issued with a net value of 1 yuan, and the price is lower. Plus, if it is managed by a star fund manager, it is equivalent to buying cheap and good products. But in reality, the income effect of new funds is often not as good as that of old funds. Then why is the income of the new fund not as good as that of the old fund?

When the new fund raises funds during the issuance period, it will only enter the closed period, usually 1 to 3 months. During this period, the subscription and redemption of fund shares cannot be carried out. When the new fund is established, there will be an open period, which is carried out at the same time, and the open period is generally longer than the closed period. During the opening period, the fund manager will use the raised funds to purchase stocks, bonds and other investments according to the requirements of the fund prospectus.

If the market is at a high level at this time, buy at the high point of the market. If the market rises at this time, but the fund manager is slow to open a position and the position is relatively low, he will miss this wave of rising market, which is also a 30% increase in the market. Under the same conditions, 80% of the stock positions and 40% of the stock positions differ by half.

Due to incomplete positions, new funds often have stagflation periods. The data shows that it often takes about half a year for a new fund to enter a good situation. The performance of new funds in the early stage is often relatively dull. But it is precisely because of the relatively low position that the new fund has stronger resilience.

These characteristics of the new fund determine its early growth characteristics. We need to comprehensively evaluate these aspects and choose the right fund, hoping to help you.