First of all, if it is an on-site fund, you can buy it on the same day and sell it the next day. The trading hours and rules of on-site funds are the same as those of stocks. Under the trading rules of T+ 1, the funds bought in the trading session on the same day can be sold the next day. However, if the next day is a weekend or holiday, it cannot be sold, and even the redemption application will not be accepted until the trading day.
Secondly, if it is an OTC fund, it is a score. OTC funds generally refer to open-end funds. Most open-end funds can be sold the next day as long as they are bought before 15:00 on the same day. Of course, generally speaking, the next day also needs to be a trading day, and the holiday quota can only sell a few money funds.
And if it is bought after 15:00 on the same day, it will not be sold until the next trading day. This is because the net value of off-exchange funds on that day can only be confirmed after 15:00. For the sake of fairness, anything bought before 15:00 is regarded as buying on the same day. If it is bought after 15:00, it can only be regarded as buying on the next trading day, so it can only be sold on the next trading day.
Although most OTC funds can be sold on the next trading day as long as they are bought before 15:00 on the same day, there are also a few OTC funds, such as QDII funds.
QDII fund is a fund that specializes in investing in overseas markets. People who know the international securities market should know that the opening time of the European and American securities markets is later than that of China due to the time difference. The United States, in particular, is only 12 hour behind China.
Because of this, when we buy QDII funds, the confirmation time of the share will be one day later. That is, buy before 15:00 on the same day, and the share can only be confirmed on the third day, and the fund can only be redeemed after the share is confirmed.
The above situation is aimed at the old fund. If it is a newly issued fund, if you buy it on the same day, you will not be able to sell it the next day. Because after the new fund is issued, there is a raising period and a closing period, during which the fund cannot be sold, and it can only be sold after the closing period is over. The closure period of new funds varies according to different funds, and generally it will not exceed 3 months.
In addition, some open-end funds may be closed for a long time. Obviously, these funds can't be sold on the same day.
In short, whether a fund can be bought on the same day and sold the next day depends on what fund it is bought and when it is bought.
However, although most funds can buy on the same day and sell the next day, it is best for investment funds not to do so. The main reason is that all funds except the money fund have to be sold or redeemed, and there is also a handling fee.
Especially for open-end funds, if they are held for less than 7 days, the handling fee is very high. Unless the fund price rises sharply the next day after buying, there is a high probability of loss after excluding the handling fee.