5 15563, hereinafter referred to as "the Fund") was approved and registered by the Securities Regulatory Commission of China [2019] No.2162.
In order to fully protect the interests of fund share holders, according to the "CCB Securities Open Index Securities Company Transaction Means"
The prospectus of securities investment funds and Jianxin Securities refer to the share of trading open index securities investment funds of securities companies.
The relevant provisions of the prospectus and other documents, the fund manager Jianxin Fund Management Co., Ltd. (hereinafter referred to as
"The Company") reached an agreement with CITIC Securities Co., Ltd., the custodian of the Fund.
Extended data
Open-end funds often need to keep some cash for redemption. When investors of open-end funds redeem their fund shares, they often force fund managers to constantly adjust their investment portfolios, and the resulting taxes and losses of some investment opportunities are borne by those long-term investors who have not made redemption requests.
This mechanism can ensure that when some ETF investors ask for redemption, it will not have much impact on long-term ETF investors (because the redemption is stocks).
Compared with closed-end funds, ETFs are listed on exchanges, just like stocks, which can be traded at any time in a day. The difference is that:
1 ①ETF is more transparent. Since investors can purchase/redeem continuously, the frequency of asking fund managers to announce their net worth and portfolio is also accelerated accordingly.
(2) Due to the existence of the continuous subscription/redemption mechanism, theoretically there will not be too much discount/premium between the net value of ETF and the market price.
Securities Times-Listing Announcement of CSI 500 Information Technology Index Trading Open Index Securities Investment Fund