1 The share of open-end funds can be increased indefinitely, and the number of subscriptions can be increased. Open-end funds are traded through' subscription' and' redemption'.
Once a closed-end fund is issued, its share cannot be changed and it can only be bought and sold in the secondary market.
-In terms of fund recommendation, it is definitely the most powerful self-selection base. It is simply an artifact, and the quality of recommendation is overwhelming. . Baidu' optional base', you will come back to thank me.
Question 2: What is an open-end fund? Closed-end fund means that it cannot be traded during the closed period. Open-end funds refer to funds that can be traded at any time.
Question 3: What does an open-end fund mean? Open-end funds are relative to the existing closed-end funds in the market.
Closed-end funds are announced and closed immediately after their establishment. Redemption is not accepted during the closed period, and the circulation of fund shares must be traded through the secondary market. After the closure period, there are three ways to deal with it: first, liquidation; The second is to turn into an open-end fund, which is what we often call closed to open. For example, Tianfeng, a rich country known as the "most indebted foundation" in history, gained a three-year cumulative rate of return of 26.99% during the three years of closed operation (from 2008- 10 to 201-10), and then turned around. The third is to extend the maturity period, which is rarely used.
The term "open-end fund" refers to an innovative fund category of "regular opening and circular operation", that is, it not only contains the characteristics of closed-end funds, but also does not face the problem of "transformation" after opening, but sets a certain opening period and then enters a new round of closed-end period. Now this kind of fund has just appeared in China, which is an upgraded product of Guo Fu Tianfeng and is being issued. Regular open-end funds have the advantages of both closed-end funds and open-end funds, and the market attention is still quite high.
Question 4: What are the advantages of applying for an open-end fund? In order to increase the openness of the laboratory and promote mobility, cooperation and communication, the laboratory has set up an open research fund and compiled the corresponding guide to the open research fund. The total amount of open fund is 6.5438+0.2 million yuan per year, which is used to finance research projects that may make theoretical and technical methods innovations in the field of geological disaster prevention and geological environmental protection. The open research fund is applied for evaluation once a year, and each time it is funded 10- 15, the average funding intensity is 5-65438+ 10,000 yuan.
The selection of projects funded by public funds and special programs adopts the principle that applicants can apply freely around the project guide, and the academic Committee conducts evaluation according to the principles of openness, fairness and impartiality, and selects the best funded object, which is finally approved by the laboratory director and organized for implementation. The laboratory specially encourages outstanding young and middle-aged scholars at home and abroad to declare open funds and special plans.
Question 5: What is the regular opening of open-end funds? They can be bought and redeemed at a specific time. They can't be bought and redeemed every day, and they can't be redeemed until the end.
Question 6: What does the term open-end fund mean? Regular open-end fund is also a kind of open-end fund. Different from ordinary open-end funds, they are not free to buy and sell on any trading day, but open according to a fixed cycle. At present, three months and six months are common in the market. At present, most of the regular open-end funds in the market are bond funds. The design of regular opening can keep the fund scale relatively stable and play a great role in improving the income of bond funds. Regular open-end fund is also a kind of open-end fund. Different from ordinary open-end funds, they are not free to buy and sell on any trading day, but open according to a fixed cycle. At present, it is common in the market to open once every three months and half a year. At present, most of the regular open-end funds in the market are bond funds. The design of regular opening can keep the fund scale relatively stable and play a great role in improving the income of bond funds.
Question 7: What is the difference between closed-end funds and open-end funds? Comparison between open-end funds and closed-end funds.
1. The duration is different.
Open-end funds have no fixed term, and investors can redeem fund shares from fund managers at any time; Closed-end funds usually have a fixed closure period, generally 10 year or 15 year, which can be appropriately extended with the approval of the beneficiaries' meeting and the consent of the competent authorities.
2. Variability at different scales
Open-end funds usually have no restrictions on the issuance scale, and investors can apply for subscription or redemption when their performance is good, so the fund scale increases or decreases; Closed-end funds specify their fund size in the prospectus, and the total duration after issuance is fixed. Without legal procedures, the issuance may not be increased.
3. Different redeemability
Open-end funds are legally redeemable. Investors can apply for redemption at any time within a period of time after the end of the initial offering, and the longest period is no more than 3 months. However, closed-end funds cannot be redeemed during the closed period, and listed funds can be transferred through the stock exchange, and their shares remain unchanged.
4. The calculation standard of transaction price is different.
The transaction price of closed-end funds is affected by the relationship between market supply and demand, and there is often a phenomenon of premium or discount transactions, usually discount transactions, which do not necessarily reflect the net asset value of funds; The subscription price of open-end funds is generally the net asset value of the fund unit plus a certain subscription fee, and the redemption price is the net asset value of the fund minus a certain redemption fee, which has little to do with market supply and demand.
5. Different investment strategies
In order to cope with investors' redemption at any time, open-end funds must keep some cash and highly liquid financial commodities in their portfolios; However, the fund capital of closed-end funds will not be reduced, which is conducive to long-term investment, and the investment portfolio of fund assets can be carried out within an effective predetermined plan.
Question 8: What is the level of laboratory open fund of Chinese Academy of Sciences? Why doesn't Zouzhq (contact TA in the station) directly look for a job? F4 1898 (intra-station contact TA) samsonding (intra-station contact TA) is better than the regulations of their respective schools. There is also the national key laboratory of zyl2000 (in-station contact TA), right? Chu Yunfei (contact TA in the station) has different regulations from school to school. Ljtwcx (Station Contact TA) is a horizontal project: (zynlovewqs) My school counted this open project as a vertical project, so I applied for two. That's what the school said: Tools888 (in-station contact TA) is not up to standard. It's not very useful, but it may be a project of a particularly poor school. Wjiawei (contact station ta) This depends on how your own unit decides! Nicer (Station Contact TA) is a horizontal item, which is still useful when evaluating professional titles, and can also be regarded as hosting projects. 2008xuxy (in-station contact TA) was originally Klocat20 1 0-1-2016:15: Target1,a key laboratory of Chinese Academy of Sciences (non-state key laboratory); Goal two, the State Key Laboratory of a university. I want to try to apply for one after my PhD. The school's decision: Dsayu_yangy (contact TA in the station) is basically useless, because the accounts of the open fund are against the management of the laboratory, and all reimbursement must go to the other laboratory. When many schools calculate a project, only the money in the school account counts as your project, otherwise it doesn't count, that is to say, even if the project is yours, but there is no money in the account, it is nothing. So it doesn't make much sense for you to complete any workload and scientific research through this. If you don't give up, you'd better ask the research office. Basically, it is useless, because the accounts of the open fund are all dealing with laboratory management, and all reimbursement must go to the other laboratory. When many schools calculate a project, only the money in the school account is your project, otherwise it won't count, which means that even if the project is yours, there is no money in the account, so ... I really don't know how complicated it is. You have to go to another lab for reimbursement?
Question 9: What's the difference between closed-end funds and open-end funds? That's a big risk. According to whether the scale of fund assets has changed after the issuance, it can be divided into closed-end funds and open-end funds.
Closed-end fund means that when a fund company establishes a fund, it limits the total amount of issuance of fund units. After the total amount raised is completed, the fund is announced to be established and closed, and no new investment will be accepted for a certain period of time (called duration). The circulation of fund shares shall be listed on the stock exchange.
In the future, investors must bid in the secondary market after the securities company opens an account, and cannot redeem it in the bank. After the expiration of the duration, the fund manager will convene the holders' meeting to discuss the follow-up matters (termination, renewal or conversion to open-end funds).
Compared with closed-end funds, open-end funds have great advantages in incentive and restraint mechanism, liquidity, transparency and investment convenience. If the performance of the fund is excellent, more people will be willing to buy it, and the flow of funds will lead to the increase of fund assets. However, if the fund is poorly managed, investors will withdraw funds by redeeming the fund, resulting in a decrease in fund assets. This mechanism of survival of the fittest has formed a direct incentive and constraint for fund managers, which fully reflects that when fund sponsors set up funds, the total scale of fund shares is not fixed, and they can sell fund shares to investors at any time according to their needs, and they can redeem the fund shares that investors demand to issue. Investors can purchase funds through fund sales agencies to increase the assets and scale of funds accordingly, or they can sell their fund shares to fund companies to recover cash and reduce the assets and scale of funds accordingly. It is very important that open-end funds can be purchased and redeemed in banks, which is very convenient.
The main difference between open-end funds and closed-end funds is that the latter has a long closed period, a fixed number of issues, and the holders are in a closed period.
Can not be redeemed, can only be bought and sold in the secondary market, and open-end funds can be purchased and redeemed. Therefore, open-end funds have to "always be ready" for the possible redemption of their holders, and their investment style is relatively stable; Closed-end funds do not have to worry about redemption during their existence.
How to make closed-end funds glow with exuberant vitality in the mature China capital market, and how to make closed-end funds usher in a brand-new tomorrow in the soil of innovation? China's fund industry has actively and effectively explored this issue and made substantial progress, which has spawned the popularity of "innovative closed-end funds".
What are the characteristics of innovative closed-end funds?
(3) During the existence of innovative closed-end funds, if the discount rate exceeds 20% for 50 consecutive trading days after listing, the fund can pass.
Hold a meeting of fund share holders, change the operation mode, become an open-end fund (LOF), and accept redemption applications from investors. This content is called "lifeboat clause", such as Dacheng Optimal Fund, which adopts this measure to deal with the long-term high discount rate.
(2) Investors of existing closed-end funds are concentrated in the market. The new closed-end fund not only attracts investors to participate in the market, but also designs
Investors who have introduced OTC issuance and commercial banking channels. Investors must know the characteristics of such funds before subscribing, and cannot redeem them in banks.
(3) Innovative closed-end funds will moderately relax investment restrictions, expand the choice of investment targets, and moderately relax investment proportion restrictions. It can be designed as "semi-closed and semi-open" or other innovative trading modes, which can reduce the discount rate and improve its liquidity through regular and moderate opening.
(4) The duration of traditional closed-end funds is more than ten years, and that of innovative closed-end funds is not more than five years.
(5) The trading mode will be semi-closed and semi-open. When the continuous discount rate reaches a certain range, such as more than 10%, innovative closed-end fund holders can choose to redeem.
It takes more than 3 working days for an open-end fund to redeem a general fund. Innovative closed-end funds are on sale on the same day. When is the payment after the transaction?
You can buy other securities in the secondary market on the 20th and withdraw them the next day.
Question 10: what is the laboratory open fund project? What are the specific rights and rules? Can you introduce it in detail? Open Fund is a horizontal project, which is mainly used for the development and research of laboratory teachers. As for the amount of money, it should be related to the amount of money allocated by the state to the laboratory!