"Shanghai Stock Exchange Fund Link" officially met with investors. Following the launch of ETF, Shanghai Stock Exchange made another innovation. In the future, investors only need to hold the SSE shareholder code card to go through the procedures of fund subscription, purchase and redemption in the business department of any member securities firm with fund consignment qualification. At present, the Yin Hua Core Value Optimization Fund, the first fund to adopt the SSE fund platform, has also started public offering. It is more convenient to buy funds. Investors who have bought funds should have a deep understanding of the complicated procedures of fund purchase and redemption. If you go to a bank outlet, it takes time and effort to open an account and fill out the form. Sometimes different funds are sold by different banks, and different banks have to go through formalities. The funds originally deposited in the CCB account may be transferred to ICBC for a fund issued in ICBC, which not only has complicated procedures, but also increases the intermediate transaction cost and leather shoes cost (refers to the cost that investors need to shuttle between different consignment channels in order to buy open-end funds issued by different fund companies). With more and more funds listed on the "Shanghai Stock Exchange" system, a brokerage business department in the future is equivalent to a large-scale "fund supermarket", and investors can handle various fund businesses on the brokerage platform, saving time and effort. I believe this new measure will bring a lot of convenience to investors. Especially for many investors, as long as they hold a stock account in Shanghai, they can purchase and redeem funds listed on the exchange just like buying and selling stocks. Moreover, for investors, the most important thing is that the listed funds of the SSE reach a certain amount, and the whole information service platform will play a role. According to relevant persons of SSE, investors can learn about the net value, announcements, research reports, laws and regulations of all funds listed on SSE through SSE's market release system and website in the future. For investors who have bought funds from different fund companies, it should save a lot of time and energy. It is expected that the rate will be reduced in the future. According to the relevant provisions of the current Measures for the Administration of Fund Sales, when subscribing (subscribing) open-end funds, the fund sales rates of different sales channels should be consistent. Therefore, at present, there is no preferential rate for purchasing open-end funds through "Shanghai Stock Exchange Fund Link". However, relevant sources said that due to the relatively low cost of the SSE fund platform, there should be a trend of lowering the rate in the future with the intensification of competition in on-site and off-site channels. Investors can get more convenience and preferential treatment. Regarding the time of subscription, purchase and redemption of funds, the Exchange has issued relevant rules and regulations. It is stipulated that during the fund raising period, the time for SSE to receive subscription declaration is from 9:30 to 1 1:30, 13:00 to 15:00, 15:00. Regarding the latest quotation, the Shanghai Stock Exchange will reveal the face value of each fund share through the "latest price" column in the market release system during trading hours. After the fund is open for subscription and redemption, the Shanghai Stock Exchange will accept applications for subscription and redemption of fund shares from 9:30 to 1 1:30 and from 13:00 to 15:00 every trading day. In addition, investors can also transfer fund shares between different member business departments, or choose to transfer custody across the market between the on-site system and the off-site banking system of the Shanghai Stock Exchange. After the open-end fund is open for subscription and redemption, investors can apply for re-custody in the sales department. Yin Hua Fund made its maiden voyage, and Yin Hua Core Value Optimization Fund, as the first fund listed on Shanghai Stock Connect of SSE, will use the platform of Shanghai Stock Connect from now on. Investors can subscribe for this fund through the fund network of Shanghai Stock Exchange or off-site (including CCB and Bank of Communications) platforms. Moreover, in the future, all funds that use the fund platform of the Shanghai Stock Exchange can be subscribed on and off the market. According to Jiang Bolong, the proposed fund manager of the fund, Yin Hua Core Value Optimization Fund belongs to the fund with higher expected risk and higher expected return.

"Shanghai Stock Exchange Fund Link" is actually a trading method for investors to purchase and redeem funds like buying and selling stocks. It is an open-end fund sales system of Shanghai Stock Exchange (hereinafter referred to as "SSE"), and investors can subscribe, purchase and redeem some open-end funds through this platform. At present, the number of funds that can be purchased through this platform is 24.

Investors need to open different fund accounts to buy funds from different fund companies, while using the general rules of Shanghai Stock Exchange only needs to have a Shanghai ordinary stock trading account. In other words, investors can buy and sell funds listed on the Shanghai Stock Exchange as long as they can buy and sell stocks listed on the Shanghai Stock Exchange.

The rate is the same as the bank channel.

For investors who already have a Shanghai securities account, they can subscribe, purchase and redeem directly on the Shanghai Stock Exchange. Investors without Shanghai securities accounts can subscribe, purchase and redeem the open-end funds listed on the SSE after opening Shanghai securities accounts through the business departments of qualified major securities companies. All stock trading entrustment methods, such as telephone entrustment, online entrustment, self-help entrustment and counter entrustment, are applicable to the subscription and redemption of open-end funds in Shanghai Stock Exchange.

The subscription and redemption business through Shanghai Stock Connect shall be conducted according to the net value of the fund share on that day. In terms of rate, it is basically the same as the fund subscription fee of the bank channel. The subscription rate is 1.5% and the redemption rate is 0.5%. However, specific securities companies will give customers preferential rates according to the actual situation, and investors need to consult the business outlets of their own securities companies.