The following are frequently asked questions about fund investment compiled by Bian Xiao for your reference!

1. Q: What are subscriptions and subscriptions?

A: Subscription refers to the behavior of investors buying shares of the fund during the fund raising period. Subscription refers to the behavior of fund investors to buy fund shares from fund managers in accordance with the procedures stipulated in the fund contract, prospectus and fund sales outlets. The daily subscription of the fund shall be handled within 3 months after the fund contract takes effect.

2. Q: How to calculate the redemption fee and amount of open-end funds?

A: The calculation method of redemption fund unit amount is as follows:

Redemption fee = redemption share × net value of fund share on T day × redemption rate

Redemption amount = redemption share ×T-day fund unit net value-redemption fee

If an investor redeems 50,000 fund units, assuming the redemption rate is 0.5% and the net asset value of the fund units on that day is 65,438+0.65,438+0.688 yuan, the redemption amount obtained is:

Redemption fee = 50,000×1.1688× 0.5% = 292.20 yuan.

Redemption amount = 50,000×1.1688-292.2 = 58, 147.80 yuan.

3. Q: How to calculate the subscription fee and share of open-end funds?

A: The calculation method of unit quantity share of open-end funds is as follows:

Net subscription amount = subscription amount /( 1+ subscription rate)

Subscription fee = subscription amount-net subscription amount

Subscription share = net subscription amount on T day/net fund share.

If an investor invests 50,000 yuan to subscribe for an open-end fund, assuming the subscription rate is 1%, the net value of the fund share on that day is 1. 1.688 yuan, and the share obtained is:

The net subscription amount = 50,000 yuan/(1+1%) = 49,504.95 yuan.

Subscription fee =50000-49504.95=495.05 yuan.

Subscription share = 49,504.95/1.1688 = 42,355.36.

4. Q: What is redemption?

Answer: Redemption refers to the act of investors selling their already held shares of open-end funds to fund managers in order to recover their funds. Usually, valid redemption applications submitted by investors before the opening day, that is, trading days of Shanghai Stock Exchange and Shenzhen Stock Exchange (9: 00 am-afternoon 15:00 pm) and 15:00 pm, will be confirmed by the net value calculated on that day according to the principle of "unknown price", after 15:00 pm. If the fund encounters large-scale redemption, it shall be handled in accordance with the provisions of the fund contract.

5. Q: What is share redemption?

A: Share redemption means that when an investor sells a fund, it is put forward according to the share sold, not the amount sold. For example, an investor proposes to sell the 10000 yuan fund instead of selling the 10000 yuan fund. Because the open-end fund transaction adopts the "unknown price method", redemption by shares is a more convenient operation mode.

6. Q: How much is the redemption fee?

A: According to Chinese laws, the redemption rate shall not exceed 3% of the redemption amount. The balance of the redemption fee income after deducting the basic handling fee shall be owned by the fund. At present, the redemption rate of domestic open-end funds is generally below 1%.

7. Q: How to calculate the redemption fee? How to calculate the redemption amount?

A: After the investor sells the fund, the actual amount obtained is the part of the total redemption amount deducted from the redemption fee. Its calculation formula is: total redemption amount = redemption quantity × net value of fund unit on redemption date; Redemption cost = total redemption amount × redemption rate; Redemption amount = total redemption amount-redemption fee.

8. Q: What is the minimum share of the redemption fund?

Answer: Redemption is based on share, and the minimum share should be determined according to each fund, which is not uniform.

9. Q: What is the dividend of the fund?

A: Fund dividend means that the fund distributes a part of the income to investors in the form of cash or converted into fund shares, which is originally a part of the net value of fund shares. According to the provisions of the Measures for the Administration of the Operation of Securities Investment Funds, the income distribution of closed-end funds shall not be less than once a year, and the proportion of annual income distribution of closed-end funds shall not be less than 90% of the realized income of the fund; The fund contract of an open-end fund shall stipulate the maximum number of fund income distribution and the minimum proportion of fund income distribution each year. The default dividend method of open-end funds is cash dividend (except monetary funds), and investors can set it at the time of subscription or modify it to "dividend reinvestment" after confirming the share.

10. Q: What are the fees for investors to trade listed open-end funds?

A: Investors need to pay trading commission to buy and sell listed open-end funds through the trading system of Shenzhen Stock Exchange. The collection standard of trading commission is basically the same as that of closed-end funds.

Investors need to pay subscription fee and redemption fee to purchase and redeem listed open-end funds through fund managers or consignment agencies. The subscription and redemption rates shall be agreed by the fund manager in the fund prospectus.

1 1. Q: How do investors inquire about the fund's net value?

A: Investors can check the net value of the fund through the following channels:

On (1) trading day, Shenzhen Stock Exchange reveals the net value of fund shares and 100 shares of fund shares provided by the fund manager through the market release system, and investors can make inquiries at the corresponding positions through the setting of market analysis software.

(2) The fund manager and its consignment agency disclose the net value of the fund shares of the previous trading day provided by the fund manager in their business premises, and investors can directly inquire at the business premises.

In addition, investors can also check the net value of fund shares in the previous trading day through newspapers and periodicals designated by the CSRC and the website of fund managers.

12. Q: What fees do investors have to pay to buy funds?

A: There are two main types of investor-related expenses involved in fund operation:

1. expenses directly borne by fund investors: refers to the expenses paid by investors in a lump sum when conducting fund transactions. For closed-end funds, like buying and selling stocks, a certain percentage of commission is paid outside the price. For open-end funds, it mainly refers to subscription fee, redemption fee and fund conversion fee.

(1) Subscription fee: the fee that investors need to pay to buy a fund share, which is mainly used to pay marketing expenses such as sales expenses and advertising fees to fund sales institutions. It can be collected when investors buy fund shares, that is, the front-end subscription fee, or when investors redeem fund shares, that is, the back-end subscription fee, and its rate is generally decreasing according to the holding period.

(2) Redemption fee: refers to the fee paid by investors when they sell their fund shares. Redemption fee is different from subscription fee, which is sales commission, while redemption fee is the fee charged for redemption. The subscription fee income after collection is dominated by the fund management company, and the redemption fee income belongs to the fund.

2. Fund operating expenses: Fund operating expenses refer to the expenses incurred in the process of fund operation, mainly including management fees, custody fees and other expenses. These expenses are directly deducted from the fund assets, that is, the expenses have been reflected in the net value.

(1) Fund management fee: generally, the remuneration paid to the fund manager is calculated and accumulated daily according to a certain proportion of the net asset value of the fund, extracted from the fund assets and paid regularly. Fund management fee is the main source of income for fund managers. The fund manager's own expenses cannot be spread into the fund or fund company, nor can they be charged to investors. Daily management fee = calculated daily fund net asset value × management rate ÷ days of the year.

(2) Fund custody fee: refers to the fee charged by the fund custodian for providing custody services to the fund. Custody fees are usually drawn according to a certain proportion of the fund's net asset value, calculated and accumulated daily, and paid to the custodian regularly. Custody fee accrued daily = net asset value of the fund on the calculation day × custody rate ÷ days of the year.

(3) Fund sales service fee: refers to the fees deducted from the fund assets to pay the sales agency commission, fund manager's fund marketing advertising fee, promotion activity fee, holder service fee, etc.

13. q: what are the main ways to make profits by investing in open-end funds?

Answer: Investing in open-end funds can mainly make profits in the following two ways:

1. net value increase: the increase of fund unit net value due to the appreciation of stocks or bonds invested by open-end funds or the acquisition of dividends, bonuses, interest, etc. After the net value of fund shares rises, the difference in net value obtained by investors when redeeming the number of fund shares is also the investment gross profit. The real investment income is the gross profit after deducting the subscription fee and redemption fee when buying a fund.

2. Dividend income: According to the national laws and regulations and the provisions of the fund contract, the Foundation distributes income regularly. Dividends received by investors are also an integral part of profits.

14. Q: What is the subscription fee?

A: According to the laws of China, the subscription rate shall not exceed 5% of the subscription amount. At present, the subscription rate of domestic open-end funds is generally 0% ~ 2% of the subscription amount of 65438+, and there are multiple rates, and the applicable rate for large subscription is also low.

15. Q: How can I check the share after buying an open-end fund? How long can I confirm when I buy an open-end fund?

A: During the subscription period of the fund, the fund share can only be confirmed after the fund contract takes effect; If it is a subscription, the share confirmed by the subscription can be found within t+2 working days after the investor puts forward the subscription (t refers to the application date). If you bought it at the bank counter, you can print the delivery note there. You can also check directly on the website of the corresponding fund company. There is usually an input box for "customer login" (or similar name) on the website of a fund company. Enter the account opening certificate number/fund account number and inquiry password in this box to inquire. Generally, the initial inquiry password defaults to 6 digits after the account opening certificate number (English characters are converted into 0, and Chinese characters are converted into two 0s). Or you can call the customer service phone of the fund company and inquire about the fund share according to the voice prompt. Please consult the customer service of the fund company for specific steps.