(a) the place of purchase and redemption
1. fund manager direct sales outlets.
2. OTC fund sales agent distribution outlets that do not handle subscription, redemption and related businesses through the trading system of Shanghai Stock Exchange (see the offering announcement for the specific list).
3. Member units that handle subscription, redemption and related businesses through the trading system of Shanghai Stock Exchange (see the issuance announcement for the specific list).
Investors can purchase or redeem through the above places in accordance with the regulations. The fund manager may increase or decrease the sales organization according to the situation and make an announcement.
Investors can also purchase and redeem the fund through other means provided by the fund manager or designated fund sales agent (such as telephone, fax or online transaction).
(two) the opening day and time of subscription and redemption.
1, opening days and opening hours
The fund open day refers to the trading day of the stock exchange that handles fund subscription and redemption for investors. The specific business processing time is the trading hours of Shanghai Stock Exchange and Shenzhen Stock Exchange.
If a fund investor applies for subscription, redemption or conversion at a date and time other than that stipulated in the fund contract, the subscription and redemption price of the fund share shall be the opening day price of the next subscription and redemption time of the fund share.
If the trading hours of the new securities trading market or exchange change or the actual situation requires, the fund manager may adjust the subscription and redemption time, but the adjustment shall not have a substantial impact on the interests of investors, and shall report to the China Securities Regulatory Commission for the record, and make an announcement in at least one media designated by the China Securities Regulatory Commission three working days before the implementation date.
2. Start time of subscription and business processing time.
Subscription will be started within 3 months after the fund contract takes effect. The specific business processing time is stipulated in the announcement of open subscription.
3. Redemption start time and business processing time.
Redemption begins within 3 months after the fund contract takes effect. The specific business processing time is stipulated in the announcement of open redemption.
4. After determining the start time of subscription and redemption, the fund manager shall make an announcement in at least one media designated by the China Securities Regulatory Commission at least three working days before the open day.
(three) the principle of purchase and redemption
1, the principle of "unknown price", that is, the subscription and redemption prices are calculated on the basis of the net value of fund shares calculated after the closing of the subscription date.
2. The principle of "amount subscription and share redemption", that is, subscription is applied according to the amount and redemption is applied according to the share.
3. Redemption follows the principle of "first-in, first-out", that is, redemption is carried out in the order of investors' application (approval);
4. The application for subscription and redemption on that day can be cancelled within the time specified by the fund manager.
5. The fund manager can adjust the above principles according to the actual situation of fund operation without affecting the substantial interests of fund share holders. Fund managers must make an announcement in at least one media designated by the China Securities Regulatory Commission three working days before the implementation of the new regulations.
(4) Subscription and redemption procedures
1. Application method for subscription and redemption
Subscription and redemption of the Fund shall be conducted in written form, by telephone or other transaction forms agreed by the manager. Fund investors must apply to the fund manager for subscription or redemption in accordance with the procedures prescribed by the sales organization.
Investors who subscribe for this fund must prepare sufficient subscription funds in the way prescribed by the sales organization.
When investors apply for redemption, they must have sufficient fund share balance in the sales organization.
2. Confirmation of subscription and redemption application
Under normal circumstances, the fund registration institution will confirm the validity of the transaction for investors within T+ 1 day, and investors can inquire about the purchase and redemption transactions from the sales organization or other means designated by the sales organization after T+2 (including that day).
3. Payment of subscription and redemption
Subscription is made in full. If the subscription funds are not paid in full within the specified time, the subscription is unsuccessful. If the subscription is unsuccessful or invalid, the subscription money will be returned to the investor's account.
After the investor's redemption application is successful, the fund manager will transfer the redemption money into the fund share holder's account within t+7 days (including that day). In case of huge redemption, the payment method shall be handled with reference to the relevant provisions of the Fund Contract.
(five) the subscription and redemption agreement amount.
1. The minimum amount of each subscription to the Fund by the agent network is 1 000 yuan (if the front-end charging mode is selected, the subscription fee is included). The minimum amount for the direct selling outlets to purchase this fund for the first time is 6,543.8+0,000 yuan (if the front-end charging mode is selected, including the subscription fee), and the minimum amount for additional subscription is 6,543.8+0,000 yuan. Investors who have subscribed for the Fund at direct outlets are not subject to the minimum initial subscription amount. Investors who want to transfer to direct sales outlets are limited by the minimum amount of direct sales outlets. When the fund income distributed by investors in the current period is converted into fund shares, it is not limited by the minimum subscription amount. The fund manager may adjust the minimum amount of the initial subscription of the fund according to market conditions.
2. When the fund share holder redeems in the sales organization, each fund redemption application shall not be less than 800 fund shares. At the time of redemption or after redemption, if the balance of fund shares held by fund share holders in sales organizations (outlets) is less than 800, it shall be redeemed at one time.
3. The fund manager may adjust the above restrictions according to the actual situation without damaging the rights and interests of fund share holders, and make an announcement in at least one media designated by the China Securities Regulatory Commission at the latest 3 working days before the adjustment takes effect.
4. Handling method of subscription share and balance: In off-site subscription, the effective subscription share is calculated by deducting the corresponding expenses from the actually confirmed subscription amount, and the calculation result is retained to two decimal places, and the two decimal places are partially rounded, and the resulting errors are included in the fund property; At the time of on-site subscription, according to the actually confirmed subscription amount, the effective subscription share is calculated after deducting the corresponding expenses from the net fund share on the day of subscription, and the remaining amount is returned to the investor.
5. Handling method of redemption amount: the redemption amount is the actual confirmed effective redemption share multiplied by the net value of the fund share of the day and the corresponding expenses are deducted. The calculation results are retained to two decimal places, and the two decimal places are rounded off, and the resulting errors are included in the fund property.
6. The calculation of the net value of fund shares shall be kept to four decimal places, and the fifth decimal place shall be rounded off.
(6) subscription rate and redemption rate
1, subscription fee
(1) Investors can choose to pay the subscription fee when purchasing or redeeming the Fund. What investors choose to pay at the time of subscription is called front-end subscription fee, and what investors choose to pay at the time of redemption is called back-end subscription fee.
(2) When investors choose to pay the front-end subscription fee, they will adopt the proportional rate according to the subscription amount. If an investor has multiple subscriptions in one day, the applicable rates shall be calculated separately according to the single subscription. The specific rates are as follows:
Subscription amount (m, including subscription fee) front-end subscription rate
M < 1 ten thousand yuan 1.5%
1 ten thousand ≤ m < 5 million 1.2%
M ≥ 5 million 0.6%
No subscription fee is charged for the shares converted by investors who choose to reinvest dividends automatically.
(3) When investors choose to pay the back-end subscription fee, they will adopt the proportional rate according to the subscription amount, and the rate will decrease according to the holding time. The specific rates are as follows:
Back-end subscription rate for holding time (n, year)
N < 1 year 1.5%
1 year ≤ n < 3 years 1.2%
3 years ≤ n < 5 years 0.8%
N≥5 years 0
Fund shares with back-end fees generated by automatic dividend reinvestment will no longer charge back-end subscription fees.
2. redemption fee
The Fund adopts different redemption rates according to investors' subscription (application).
When investors choose to pay the front-end subscription fee, a fixed redemption rate of 0.5% is applicable.
When investors choose to pay the back-end subscription fee, the variable redemption rate is applicable. The redemption rate decreases according to the holding time, and the specific rates are as follows:
Holding time redemption rate
N≤2 years 0.5%
2 years < n ≤ 3 years 0.25%
N > 3 years 0
3. The subscription rate and redemption rate of the Fund shall not exceed the limits prescribed by laws and regulations. Within the limits prescribed by laws and regulations, the fund manager may decide the actual subscription and redemption rates and make an announcement in the prospectus. When the fund manager thinks it is necessary to adjust the rate, it shall announce it in at least one media designated by the China Securities Regulatory Commission at the latest 3 working days before the implementation of the new rate.
(7) Ownership of redemption fee
The redemption fee of the Fund will be charged when the investor redeems the fund shares. After deducting the registration fee and other handling fees, the balance is 25% of the total redemption fee and belongs to the fund property.
(8) Calculation of subscription share and redemption amount
1. Calculation formula of subscription share
(1) front-end charging mode
Front-end subscription fee = subscription amount × front-end subscription rate
Net subscription amount = subscription amount-front-end subscription fee
Subscription share = net subscription amount on T day/net fund share.
Example: 1: Assuming that the net value of fund shares on T day is 1. 1 yuan, and the subscription amount is 1 ten thousand yuan with the subscription rate of 1.2%, the subscription fees and fund shares to be undertaken are as follows:
Front-end subscription fee =10000x1.2% =120 yuan.
Net subscription amount = 10000- 120=9880 yuan.
Subscription share = 9880/1.1= 8981.82.
That is, investors can subscribe for the Fund with an investment of 65,438+0,000 yuan, and get 89,865,438+0.82 fund shares.
(2) Back-end charging mode
Subscription share = T-day subscription amount/net fund share.
Example 2: An investor subscribes for Changxin Jinli Trend Fund with a contribution of 1 1,000 yuan, and adopts the back-end charging mode. Assuming that the net fund share on the subscription date is 65,438+0.1yuan, the subscription share he can get is:
Subscription share =10000/1.1= 9090.95438+0 copies.
(3) The calculation result of OTC subscription share is reserved to two decimal places, and the two decimal places are rounded off, so the resulting error is classified as the fund property. At the time of on-site subscription, the net value of fund shares on the day of application is calculated as the benchmark, and the remaining amount is returned to the investor. When calculating the folded-back amount, the error caused by rounding is classified as the fund property.
2. Calculation of redemption amount
When an investor submits a redemption application, he must have enough fund share balance in the sales organization (outlet).
(1) front-end charging mode
If the investor chooses to pay the front-end subscription (subscription) fee when purchasing (subscribing), the calculation method of redemption amount is as follows:
Total redemption amount = redemption share × net value of fund share on T day.
Redemption fee = total redemption amount × redemption rate
Redemption amount = total redemption amount-redemption fee
(2) Back-end charging mode
If the investor chooses to pay the back-end subscription (subscription) fee when purchasing (subscribing), the calculation method of redemption amount is as follows:
Total redemption amount = redemption share × net value of fund share on T day.
Back-end subscription (subscription) fee = redemption share × net value of fund share on subscription date (face value of fund share) × back-end subscription (subscription) rate.
Redemption fee = total redemption amount × redemption rate
Redemption amount = total redemption amount-back-end subscription (subscription) fee-redemption fee
Example 3: An investor redeemed 65,438+00,000 shares of Changxin Jinli Trend Fund with a holding period of less than one year, and the corresponding redemption rate was 0.5%. Assuming that the net value of the fund share on the redemption date is 65,438+0.1yuan, and the front-end subscription fee has been paid at the time of subscription, the redemption fee and available redemption amount are as follows:
Total redemption amount =10000×1.1=11000 yuan.
Redemption fee = 1 1000×0.5%=55 yuan.
Redemption amount =11000-55 =10945 yuan.
That is, the investor redeemed 6,543,800,000 yuan, and the amount obtained was 654.38+00945 yuan.
Example 4: Suppose that the net fund share value of an investor on the day of subscription for the fund share is 65,438+0.65,438+0 yuan, and the investor chooses to pay the back-end subscription fee and redeem 65,438+0,000 shares when the holding period is less than one year. The corresponding redemption rate is 0.5%, and the corresponding back-end subscription rate is 1.5%. Assume that the net value of the fund share on the redemption day is 65,438+.
Total redemption amount =10000×1.2 =12000 yuan.
Back-end subscription fee =10000x1.1×1.5% =165 yuan.
Redemption fee = 12000×0.5%=60 yuan.
Redemption amount =12000-165-60 =11775 yuan.
That is, the investor redeemed 654.38+00,000 yuan, and the amount obtained was 654.38+065.438+0775 yuan.
(3) The calculation result of the redemption amount is kept to two decimal places, and the two decimal places are rounded off, so the resulting error is classified as the fund property.
4. The formula for calculating the net value of fund shares is:
Net fund shares = total net fund assets/total issued fund shares.
The net fund share value of the T-day fund is calculated after the market closes on that day and announced on T+ 1 day. Under special circumstances, with the consent of the China Securities Regulatory Commission, the calculation or announcement may be appropriately delayed.
(9) Registration of subscription and redemption
After investors successfully subscribe for this fund, the fund registration institution will automatically register the rights and interests of investors on T+ 1 day, and investors have the right to redeem this part of the fund after T+2 (including that day).
After the investor successfully redeems the fund, the fund registration agency will automatically handle the registration procedures for equity deduction for the investor on T+ 1 day.
The fund manager may adjust the above-mentioned registration time within the scope permitted by laws and regulations, but it shall not materially affect the legitimate rights and interests of investors, and shall make an announcement in at least one media designated by the China Securities Regulatory Commission at the latest 3 working days before implementation.
(ten) refused or suspended procurement and handling methods.
Except in the following circumstances, the fund manager shall not refuse or suspend the subscription application of fund investors:
(1) The Fund cannot operate normally due to force majeure;
(2) The stock exchange is abnormally closed during trading hours, which makes it impossible to calculate the net value of the fund on that day;
(3) The scale of fund assets is too large, which makes the fund manager unable to find a suitable investment variety, or may have a negative impact on the fund performance, thus damaging the interests of existing fund share holders;
(4) Other circumstances in which the subscription can be suspended as stipulated by laws and regulations or recognized by the China Securities Regulatory Commission;
(5) Subscriptions that the fund manager believes will harm the interests of existing fund share holders.
In case of suspension of subscription in the above (1) to (4), the fund manager shall publish a notice of suspension of subscription in at least one media designated by the China Securities Regulatory Commission.
Matters not specified in the fund contract or prospectus occur, but the fund manager has justified reasons to think that it is necessary to suspend the fund subscription, which shall be reported to the China Securities Regulatory Commission for approval; After approval, the fund manager shall immediately publish a notice of suspension of subscription in at least one media designated by the China Securities Regulatory Commission.
(eleven) the suspension of redemption or delay in payment of redemption money and the handling methods.
The Fund must keep enough cash or government bonds with a maturity of less than one year for redemption by fund share holders. Except in the following circumstances, the fund manager shall not refuse to accept or suspend the redemption application of the fund share holders or delay the payment of redemption money:
(1) The Fund cannot operate normally due to force majeure;
(2) The trading hours of the stock exchange are abnormally closed, which makes it impossible to calculate the net asset value of the fund on that day;
(3) There are huge redemptions due to market fluctuations or other reasons, which leads to difficulties in cash payment of the fund;
(4) Other circumstances stipulated by laws and regulations, fund contract or approved by China Securities Regulatory Commission.
In case of the above circumstances, the fund manager shall immediately file with the China Securities Regulatory Commission on the same day. The fund manager will pay the accepted redemption application in full; If it cannot be paid temporarily, the payable part will be distributed to the redemption applicants according to the proportion of the redemption application accepted by each redemption applicant to the total redemption application accepted, and the unpaid part will be paid by the fund manager on the following open day according to the situation. At the same time, in the case of item (3) above, the payment of redemption money can be postponed for up to 20 working days for the accepted redemption application, and it will be announced in at least one media designated by China Securities Regulatory Commission. Investors can choose to cancel the part that may not be accepted on the same day in advance when applying for redemption.
To suspend the redemption of the Fund, the fund manager shall timely publish a notice of suspension of redemption in at least one media designated by the China Securities Regulatory Commission.
After the suspension of redemption is eliminated, the fund manager shall resume the redemption business in time.
(twelve) the identification and handling of huge redemption.
1, determination of huge redemption
In a single open day, the net redemption application of the fund (the total number of redemption applications plus the total number of transferred application shares in fund conversion minus the total number of subscription application shares and the total number of transferred application shares in fund conversion) exceeds 65,438+00% of the total number of fund shares in the previous day, that is, a huge redemption occurs.
2. The handling method of huge redemption
When there is a huge redemption, the fund manager can decide to fully redeem or partially postpone the redemption according to the asset portfolio status of the fund at that time.
(1) Full redemption: When the fund manager thinks that he has the ability to pay the investor's redemption application, he should follow the normal redemption procedure.
☆ (2) Partial deferred redemption: When the fund manager thinks that it is difficult to pay the redemption application of investors or that paying the redemption application of investors may cause great fluctuation to the net asset value of the fund, on the premise that the redemption ratio accepted on that day is not less than 65,438+00% of the total fund share, the fund manager will postpone the processing of the remaining redemption applications. For the redemption application of the day, the redemption share accepted on the day is determined according to the proportion of the redemption application of a single account to the total redemption application; If the investor fails to redeem this part, it will be automatically converted to the next open day for redemption, except that the investor explicitly stated that he would not participate in the redemption of the next open day when submitting the redemption application. Redemptions transferred to the next open day in accordance with the above provisions do not enjoy redemption priority, and the net value of fund shares in the next open day is calculated as the standard, and so on until all redemptions are completed.
(3) Announcement of Huge Redemption: When a huge redemption occurs and the redemption is postponed, the fund manager shall immediately file a record with the China Securities Regulatory Commission, and publish an announcement through the designated media, the website of the fund manager company or the outlets of the sales agency within 3 working days, or notify the fund share holders by mail, fax, etc., and explain the relevant handling methods.
If the fund has been redeemed for more than two consecutive open days, the fund manager may suspend the acceptance of the redemption application if necessary; The accepted redemption application may delay the payment of redemption money, but it shall not exceed the normal payment time of 20 working days, and shall be announced in at least one media designated by the China Securities Regulatory Commission.
(13) Announcement on reopening subscription or redemption.
In case of one-day suspension, the fund manager shall publish the announcement of reopening the subscription or redemption of the fund in at least one media designated by the China Securities Regulatory Commission on the second working day, and announce the net value of the fund shares on the last working day.
If the suspension lasts for more than 1 day but less than 2 weeks, and the fund is reopened for subscription or redemption, the fund manager shall publish an announcement on the reopening of the fund for subscription or redemption in at least 1 media designated by the China Securities Regulatory Commission/working days in advance, and announce the net value of the fund shares in the latest 1 working day on the date of reopening the subscription or redemption.
If the suspension occurs for more than two weeks, the fund manager shall publish the suspension announcement repeatedly at least once every two weeks during the suspension period. When the fund reopens for subscription and redemption, the fund manager shall continuously publish the announcement of the fund reopens for subscription and redemption in at least one media designated by the China Securities Regulatory Commission three working days in advance, and announce the latest net value of fund shares on the day of reopening for subscription and redemption.