In The Field Monetary Fund Can Not Redeem Investment, Prudent Vision Must Be Long-Term.

After the National Day holiday, the market showed a marked warming trend, but it also caused another worry. Some investors said that when they wanted to redeem the currency ETF, they repeatedly refused to redeem it. In the middle of September, the commodity base of the purchase ceiling was frequently set up, but now it is facing the problem of redemption.

It is worth noting that the current ETF of the field is mainly divided into three types: spanaction, spanaction, redemption, and foreclosure. Investors may choose to redeem products with small quotas and low spanaction costs when investing, so as to avoid "traffic jams".

"The stock market is getting warmer. I submitted money online. ETF The redemption finally failed to show the good T+0 redemption? "An investor in Shenzhen told reporters that in the end, he could only sell the money fund in the two tier market. According to the reporter, recently, many investors have redeemed the same problem.

The mystery is the limit. Reporters access to fund company's official website found that in October 14th, two trading and redemption funds, such as margin and quick investment, set up the share of net redemption limit on that day, and the ratio of net redemption ceiling to the net purchase limit on that day was more than 5 times. The net redemption limit is 100 million, the net purchase limit is 500 million, the net redemption limit is 100 million, and the net purchase limit is 600 million. If the application for redemption is overdue on the same day, it will not be able to redeem T+0, only to be sold in the two tier market. Because two tier market spanactions may arise with demand. Discount premium Investors will prefer to make a direct redemption.

It is worth noting that the continued rebound in the market on the first 3 trading days of this week has led to a "traffic jam" on the redemption of the IMF. Some of the funds are sold out of a big discount because of the urgent cash flow mentality. Take the money ETF Yinhua RI Li as an example, Wind data show that in October 12th intraday trading price fell sharply, down 0.95%.

A fund manager of a large domestic fund company, who is responsible for the cargo base in the field, told reporters that the trade based cargo base was mainly based on institutions. Investment The main reason is that a sharp fall is related to short-term redemption. When the stock market is going up, some institutions may rush to redeem the goods base to buy shares, and they will not sell locally, resulting in short-term fluctuations in net value. In anticipation of the stock market crash, there will also be a large amount of capital inflow to avoid risks, which will raise the net value in the short term.

In addition, some fund company investment personnel told reporters that some T+0 redemption failed, it may be that the design of brokers trading process led to the spanaction delay. The Monetary Fund in the field generally stipulates that if there is a huge redemption in the field, it will be suspended. However, it is very rare to touch this clause. It is recommended that investors should consult with the broker when they fail.