2. Subscription refers to the behavior of investors buying fund shares during the establishment and raising of funds.
Subscription refers to the purchase of fund shares from the fund manager after the fund is established.
Redemption refers to the act of fund investors selling fund shares to fund managers.
Under normal circumstances, the rate of purchasing funds during the subscription period is relatively more favorable than that during the subscription period. Funds purchased during the subscription period can generally be redeemed after the closed period, and the purchased funds should be redeemed on the second working day after the successful subscription. The interest generated during the subscription period is subject to the records of the registration center, and automatically converted into the investor's fund share when the fund is established, that is, the interest income increases the investor's subscription share.
Subscription and redemption methods
The subscription and redemption of funds include written application at the sales counter and other application methods such as telephone and website.
Investors who purchase or redeem funds in writing must fill in the application form for purchase and redemption at the fund sales outlets, pay the purchase price and provide relevant supporting documents. If an application is made by telephone, website or other trading methods, it must be made in a sales organization with corresponding conditions for telephone and website trading. Investors must input their own fund account card number, fund account card number and password according to telephone voice or network interface prompts.
For applications submitted before the specified time on the same day (T day), investors can generally go to the outlets to subscribe on T+2 and print the confirmation form. Investors who purchase through telephone, website and other trading methods can also make inquiries and print confirmation forms through corresponding methods.
For applications submitted before the specified time on the same day (T day), investors can generally go to the redemption outlets on T+2 and print the redemption confirmation form. Investors who apply for redemption through telephone, website and other trading methods can also make inquiries and print confirmation forms through corresponding methods. Sales organizations usually transfer the funds redeemed by investors to investors' fund accounts before T+7.
Principle of amount subscription and share redemption
That is, the application is made according to the amount at the time of purchase and the application is made according to the share at the time of redemption. In the case of restricted subscription, the subscription fee is calculated by multiplying the rate corresponding to the single subscription application amount by the single confirmed subscription amount; The application for subscription and redemption on the same day can be cancelled before 15:00 on the same day.
The reason why the principle of amount subscription and share redemption is implemented is that when investors subscribe and redeem fund shares on the same day, the reference net asset value of fund shares is the data of the last open day of the fund, and the change of net asset value of fund shares on the open day can only be calculated after the closing of the exchange on that day, so investors can't know what price it is when they subscribe and redeem. In other words, investors can't know how many fund shares they can convert into at the time of subscription, and they can't know how many fund shares they hold at the time of redemption, so open-end funds should implement the principle of amount subscription and share redemption.
Minimum amount of each subscription
Determine the minimum subscription amount according to the fund contract of each open-end fund. The subscription starting point for both individual investors and institutional investors is RMB 65,438+0,000. During the subscription period, investors can subscribe for the Fund for many times.
Calculation of subscription fee and subscription share
The calculation formula of subscription fee and subscription share is:
Subscription fee = subscription amount × subscription rate
Subscription share = (subscription amount-subscription fee)/par value of fund unit
When calculating the fund subscription fee, if it is decimal, it shall be calculated according to the method in the prospectus issued by the fund management company, and the resulting error shall be included in the fund assets.