In addition, fund transactions mainly involve subscription fees, redemption fees, management fees, custody fees and sales fees, among which the fees of Class A funds and Class C funds are different.
I. Types of fund transactions
Subscription: During the raising period before the establishment of the fund, investors apply to purchase fund shares.
Subscription: after the fund contract comes into effect, investors apply to buy fund shares.
Redemption: refers to the behavior that the fund share holder requests the fund manager to convert the fund share into cash according to the conditions stipulated in the fund contract after the fund contract takes effect.
Conversion: the act of investors converting the fund share of one fund into the fund share of another fund. The two converted funds must be managed by the same fund manager and registered in the same registration institution.
The conversion of fund shares often charges a certain conversion fee, but compared with the fund subscription after the redemption of fund shares, the time cost and transaction cost of fund conversion business are lower.
Fixed investment: refers to investing in a designated open-end fund with a fixed amount at a fixed time, similar to the deposit and withdrawal method of banks. Later, it gradually evolved into intelligent fixed investment, irregular fixed investment and irregular fixed investment.
Non-transaction transfer: refers to the transfer of ownership of fund shares under non-transaction reasons such as inheritance, gift and bankruptcy liquidation.
Sub-custody: refers to the operation of fund share holders to change their fund share sales organizations among different sales organizations of the fund.
Huge redemption: refers to a single open day of the fund, and the net redemption application of the fund on the previous open day exceeded 10% of the total fund share.
Second, the fund trading rules
The trading hours of funds are the same as those of stocks, which are 9:30- 1 1:30, 13:00- 15:00 on the securities trading day. During this period, you can cancel the application for trading on the same day.
Closed-end funds can only be traded on stock exchanges, and the trading rules are basically the same as those of stocks.
What we usually see on the fund sales platform are basically open-end funds. Open-end funds do not update their prices in real time during trading hours (the technical term is "net value"), but only after closing. Because they don't know the price when buying and selling, they are called "unknown price" transactions.