The first is the graded fund B, that is, the leveraged fund. A graded fund refers to a fund that splits the parent fund into two or more levels of shares under a portfolio, with different risks and returns. Common two-level graded funds, the parent fund is divided into A and B shares, A is the agreed income category, and B is the leveraged share category.
For example, the initial share of the parent fund is 6,543,800,000, with 5,000,000 copies of A and B, and the unit net value is 6,543,800+0 yuan. A agreed annualized rate of return is 6% (daily increase is 0.0 16%), and the remaining profit and loss are all B.
On the first day of its establishment, the parent fund rose by 10% (all the stocks held were daily limit), the total assets increased to 1 1 10,000 yuan, and the total profit was 1 10,000 yuan. A is not affected by the ups and downs, with a daily increase of 0.0 16% and a profit of 500 * 0.0 16.
On the other hand, if the parent fund falls by 10% on the first day of its establishment (all the stocks it holds fall), the assets will shrink to 9 million yuan, with a total loss of10 million yuan, and the gain on the first day will still be 0.0 16%, and the profit on that day will still be 80,000 yuan. B will first subsidize 80,000 yuan to A and bear the loss of 6,543,800 yuan.
Second, the stock market plummeted one after another, and a large number of institutions redeemed. Recently, the stock market has changed suddenly, and it has been falling continuously since the middle and early June. If a fund is not large enough, many institutions will redeem it at the same time in a single day, reaching the redemption limit of the fund, and some assets can only be realized the next day, resulting in an increase in the single-day net value of the fund, with a decrease of more than 10%.
3. Funds that invest in overseas assets. For example, DQII funds can invest in overseas securities business, such as stocks and bonds, while some countries have no one-day price limit, so the single-day price of funds investing in these securities assets may exceed 10%.