T+0 fund trading rules:
1.T+0 is realized through on-site redemption.
This model mainly uses the fund platform of Shanghai Stock Exchange to conduct on-site subscription and redemption operations in securities companies through securities trading accounts. Generally, the fund units subscribed by T+ 1 day can be redeemed, and the fund units redeemed by T+ 1 day can be used for intraday trading, and T+ 1 day can be withdrawn. Representative funds include: Huitianfu Expected Annualized Expected Earnings Express, Dacheng Cash, ICBC Anxinli, E Fund Margin, China Merchants Margin Express, Huaxia Margin Financing, etc. Liquidity of such funds is provided by the fund assets themselves, so a daily redemption limit (net redemption limit and the lower amount of cash assets in the fund assets) will generally be set, and redemption applications exceeding the limit will not be confirmed. Although this has realized the T+0 function to a certain extent and improved the efficiency of investors' use of funds, the fund manager's investment operation will become more stable due to the need to reserve some redemption funds, which may affect the expected annualized expected return of the fund.
2. Realize T+0 (Currency ETF) through floor trading.
This model provides investors with the ability to buy and redeem in the primary market; You can also buy and sell in the secondary market, and use full cash instead when applying for redemption. The T+0 of the fund is realized through the secondary market transaction, and the transaction threshold is relatively high, with a minimum of 6,543,800 yuan at the time of trading. The trading rule is that it can be redeemed on the day of purchase and sold on the day of T+/KLOC-0; Can be sold immediately, T+ 1 desirable. T+ 1 can be purchased and T+2 can be redeemed. Representative funds are: Huabao Xingye Trading Monetary Fund and Yin Hua Trading Monetary Fund. This kind of fund mainly provides T+0 liquidity through secondary market transactions, so the use efficiency of fund assets is high and it is expected to achieve better fund performance. In addition, because of the existence of the trading mechanism in the secondary market, arbitrage can also be implemented, so that the overall discount rate is at a relatively reasonable level, and there will be no sustained excessive deviation.
3. T+0 redemption mode in different places
Compared with the first two models, the biggest difference of this model is that it can be carried out without a securities account, and the T+0 redemption operation is generally completed through the direct selling platform of the fund company. The fund shares purchased on T day can be redeemed from T+ 1, and the fund shares redeemed on T day can be used on the same day. Representative funds include: Huitianfu Currency, Cathay Pacific Currency, Minsheng Currency, Haifutong Monetary Fund, etc. Such funds generally provide liquidity for T+0 through fund companies or cooperative banks, and do not affect the use of their own funds. Some traditional cargo bases essentially provide a value-added service, but limited by the scale of advance funds, there is generally an upper limit for T+0 redemption, such as 50,000 yuan and 65,438+10,000 yuan.
T+0 tradable funds: (for example)
16470 1 Tian Fuguijin 513500s & p5001616 first-class gold 1607 19 Harvest Gold.