What are the reasons for the failure of fund redemption?
1 During the closed period, closed funds cannot apply for redemption, and can only be redeemed after the closed period ends. Many funds are automatically redeemed after the closure period.
It has not been confirmed yet, and the purchase of funds is not an immediate success. If the purchase share has yet to be confirmed, you can only apply for redemption after the share is confirmed. Ordinary redemption can be initiated after T+ 1 day bought before trading day 15 is closed.
3 the available share is insufficient, and many funds have set the minimum shareholding. If the shares held after redemption are insufficient, either all of them will be redeemed or the redeemed shares will be modified.
4. The network is not normal. If the transaction cannot be accepted normally due to network or system abnormality during the redemption process, product redemption can be initiated again.
When the redemption limit is reached, some funds have the highest redemption amount every T day. When the maximum redemption amount is reached, the user's redemption application on the T day will be cancelled, and the redemption can be initiated again on the next T day.
6. If the redemption is suspended, you can check the announcement of the fund company or contact the fund company for consultation. If the other party fails to redeem the contract, it can sue for compensation.
7. You have applied for redemption. For example, if you hold a fund share of 1000, you have initiated redemption and submitted it. It is a failure to apply for redemption again because there is no share. In this case, the redemption of funds is on the way. Please wait for the funds to arrive.
8. Huge redemption, triggering huge redemption and causing proportional confirmation. When the application share exceeds a certain proportion of the total fund share on the previous working day (usually 10% or 20%, as stipulated in the fund contract), it is regarded as a huge redemption of the fund, and the fund manager can decide to redeem it in full or postpone it in part.
When the fund is redeemed, if it fails, there will often be hints. If the situation you encounter is not the above, it is recommended to consult the customer service of the platform or consult the fund company. After the fund is redeemed, the money does not arrive immediately, the fastest is 1 day, and the most common is 2 or 3 days.