Summary[Het is moeilijk om frequente aankoopbeperkingen te vinden in fondsaandelen van hoge kwaliteit]Since the beginning of this year, partial equity funds have clearly been profitable and are attracting a sustained inflow of funds. Some blue chip funds must impose purchase restrictions to account for size. (Shanghai Securities News)
Partly this yearStock baseThe money-making effect of gold is clear, attractivefundsThe influx continues, some meritsfundFrom the standpoint of scale control, purchasing restrictions had to issueAnnouncement。
Industry insiders analyzed a large numberCash flowIt will be dilutedinvestmentIncome, and also affects the fundmanagerOpen positions andmanagement. Setting a single account subscription limit for funds is also one way to protect investors.
On November 23, Zhang Kun, managed by the small and medium caps of E Fund, published a single fund account in Africa from November 26Direct saleThe institution’s accrued purchase amount may not exceed 5,000 yuan. Earlier, the fund had made an announcement on September 17, adjusting the transaction limit from 1 million yuan to 50,000 yuan.
Xingquan Heyi and Xingquan Herun managed by Xie Zhiyu also usher in quota upgrades. On November 18, Xingquan Heyi released an announcement limiting the transaction limit to less than 10,000 yuan. Previously, on October 9 and November 7, the fund adjusted the transaction limit to 100,000 yuan and 20,000 yuan. Xingquan Herun also announced at the same time that the transaction limit will be less than 10,000 yuan. Xingquan Herun has issued a “purchase restriction order” several times before. On February 4, it adjusted the cap for major purchases from 20 million yuan to 10 million yuan, and lowered it further to 100,000 yuan on February 13. As the market continues to warm, Xingquan Herun adjusted the limit to less than 20,000 yuan on July 8.
After the first three-year closed period of Dongfang Hongruixi’s three-year fixed opening mix, it first opened on November 16 and ushered in sales of 10 billion yuan. NovemberacceptLarge purchases of more than 10,000 yuan in one fund account.
In addition, Dong Chengfei’s new management vision, Zhou Yingbo’s CEIBSthe InternetFunds such as Pioneer Hybrid have also enacted purchase restrictions. Industry insiders say the purchase limit of more than 10 million yuan generally denies institutional fund inflow; the purchase limit of 100,000 yuan or 1 million yuan in fact refusesPersonal investmentBetweenBig family; The limit is 1,000 yuan, which is basically equivalent to a subscription suspension. The above funds are basically limited to less than 10,000 yuan, which can be considered dismissive institutions and large investors.
A fund manager in South China said funds generally often come with purchase restrictionsPerformanceBetter. Because the money making effect is obvious,marketThe high-profile star fund is thrilled, but a large inflow of funds will dilute the income of the original investors, and by properly limiting the scale, investors can pursue their businesslongFixed income.For fund managers, ifshort-termThe scaling-up will lead to passive investment strategies. When the size of management reaches tens of billions or even tens of billions, it will also pose the problem of “the ship is difficult to turn around”. Some limitation in scale is conducive to the creation and management of fund managers. Statistics show that most of the aforementioned fund management scales exceed 10 billion yuan.
The fund manager further stated that short term restrictions on the purchase of funds will hinder the growth of the fundfund companyIncome from management costs. But in the long run, this way of protecting the interests of original investors can increase investor confidence.
Some fund managers also indicated that the active purchase restriction can also be the result of waiting and watching the market outlook and carefully looking for investment objectives. Current market sentiment is relatively cautious and stock market performance is relatively flat. It is necessary to wait and see the market outlook in order to find high value targets.
(Article source: ShanghaiEffectsNewspaper)
(Responsible publisher: DF512)
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