First of all, capital settlement is not easy. According to Article 44 of the Measures for the Operation and Management of Securities Investment Funds promulgated in 2004: "After the fund contract of an open-end fund comes into effect, if the number of fund share holders is less than 200 or the net asset value of the fund is less than 50 million yuan, the fund manager shall report to the China Securities Regulatory Commission in time; If the above situation occurs for 20 consecutive working days, the fund manager shall explain the reasons and submit a solution to the China Securities Regulatory Commission. "
Moreover, in the open-end fund contract, the liquidation conditions are higher. First, the number of fund holders is less than 65,438+000 for 60 consecutive working days, and second, the net asset value of the fund is less than 50 million yuan for 60 consecutive working days. The difference between this and the Administrative Measures is that the number of fund holders is reduced 100, and the other is the duration.
Secondly, the biggest risk of liquidation is mainly those "mini" funds. According to the requirements of CSRC and this year's net worth performance, only four open-end funds, such as Golden Eagle Small and Medium-sized Select Allocation Fund, Shenwan Paris Li Sheng Allocation Fund, Tianzhi High-quality Preferred Stock Fund and Guolianan Desheng Anxin Allocation Fund, have certain liquidation risks.
Third, the strength of fund companies determines the way out. Most of the above four funds are small fund companies. The strength of fund management companies is average, and its funds are only two or three. It is very difficult to rely on its funds for mutual blood transfusion. But it is not helpless, because it can also increase its subscription by selling it continuously, or increase the net asset value of its funds by buying it with its own funds. Relevant data show that fund companies such as Shangtou, Guangfa, Jutian, Tianzhi and Changsheng have recently subscribed for their own funds.
Fourth, in recent years, the government has been committed to accelerating the development of the capital market through development funds. Once the open-end fund is liquidated, it will not only affect the mentality of domestic investors, but also affect the healthy development of the fund industry. Even from the individual perspective of the fund company, once its funds are liquidated, the blow to the fund company will be fatal.
Therefore, considering all factors, the liquidation of open-end funds will not happen for a long time, and the people need not worry.