Hello, graded fund refers to the fund that divides the fund shares into sub-shares with different expected risk and return through the risk and return distribution method agreed in the fund contract, and all or part of them are listed or redeemed on the exchange. According to the agreement of the fund contract, the basic share and sub-share of the graded fund can be paired and converted by splitting and merging.

Among them, the basic share of graded funds is also called "parent share", the sub-share with lower expected risk return is called "A share" or "steady share", and the sub-share with higher expected risk return is called "B share" or "enterprising share".

At the time of issuance, the basic share of the graded fund can be raised by off-site and on-site means. After the establishment of the fund, the fund shares subscribed by investors through the market will be automatically split into A shares and B shares. The ratio of share A to share B of stock grading funds is generally 1: 1. Whether it is the basic share, the A share and the B share, the assets of the three types of shares are combined.

The net value relationship of the three types of fund shares in graded funds is as follows: the net value of basic shares = the reference net value of A shares × the proportion of A shares+the reference net value of B shares × the proportion of B shares.

Share a gets the agreed rate of return. The most common ones are: the bank's one-year time deposit yield is +3%, and the net reference value of B share is the net reference value of B share after deducting the net reference value of A share. ..