How to buy graded fund A?
1. On-site subscription, subscription or redemption need to be conducted by a securities company with the qualification of on-site fund agency business in Shenzhen Stock Exchange. Investors need to open a securities trading account like buying stocks and enter the code of the subscribed fund. Stock-based, index-based and some listed bond-based graded funds use floor trading;
2. Some graded debt bases that are not listed can be purchased off-site by direct selling or consignment on the conversion date. The direct selling here includes the fund company official website and the direct selling shops opened by the fund company in Taobao or the third-party fund sales platform, and the way of agency sales is mainly banks.
How does graded fund A work?
A For transactions in the secondary market, bonds are traded at net price and settled at full price. The graded fund A is a full-price transaction and full-price settlement. Although the form is different, the essence is: add interest to the price every day. For bonds, it is full price = net price+accrued interest. For graded fund A, the transaction price includes accumulated accrued interest.
For example, the transaction price of graded fund A today is 0.950 yuan. If the daily interest is 0.002 yuan, then if the net price remains unchanged, the transaction price tomorrow should be 0.950+0.002=0.952 yuan. So if you take one day, you will enjoy one day's interest, just like the bondholders. If you sell before the fixed discount date, you will also enjoy the accumulated interest from the buying date to the selling date.
The interest of bonds is paid in cash, and the interest of graded fund A is paid in C share. Because the net value of C fluctuates with the fluctuation of stock price, you bear the risk of net value fluctuation.
A investors have many ways to deal with C shares:
1. Redeem C share, and get more or less cash due to the fluctuation of net value. This is not as good as bonds. The advantage is that the graded fund A does not bear the credit risk, because B must pay the interest of A, which is stipulated by law.
2. Keep the share of C, then you will become a stock fund holder, not just a low-risk A holder;
3. Split the share of C into A and B and don't sell it, then you hold both A and B, that is, the holders of high-risk B and low-risk A. ..
4. Divide C's share into A and B, then sell B and keep A, then your share in A will increase.
5. Split the share of C into A and B, then sell A and keep B, then you become the holder of high-risk B and low-risk A. ..
6. Split C's share into A and B, and sell A and B at the same time. It looks the same as redeeming C, but I don't know if the expected annualized expected return is the same, because I generally don't participate in the discount.