Fund conversion recalculates the number of days held by the fund. According to the Regulations of China Securities Regulatory Commission on the Management of Sales Expenses of Open-ended Securities Investment Funds, the holding period of the transferred-out fund shares shall be recalculated from the date of confirmation of the transferred-out fund shares.

For example, an investor originally held E Fund's strategic growth of 1 1 month, and later changed to E Fund's 50 index funds, holding 13 months, and then changed to E Fund's strategic growth. According to the original regulations, the first conversion needs to pay 0.5% redemption fee, and the second conversion does not need to pay redemption fee. Because the time of similar funds is calculated continuously, and the company stipulates that the redemption fee for holding the E Fund 50 Index Fund for two years is 0. However, according to the new regulations, the second conversion has to pay a redemption fee, and investors have to pay 0.25% more.