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What does the trigger level in a fund mean?

First of all, the trigger level does not appear in fund products, but in capital-guaranteed products.

Secondly, the trigger level means that the product will be automatically redeemed, that is, on the day of the observation day (usually there is an observation day every quarter), the stock price linked to the product reaches the trigger level, and the product Terminate immediately.

When you reach the trigger level, in addition to the cumulative return, the benefits you receive also include contingent returns.