Times weekly reporter: Ning Peng
A furnace of endowment canal new rule, let classification fund moves toward die out gradually. Adopt on the market at present classification fund clears way is clear dish or transition. General Qing Dynasty dish fund itself already was close to or classificationing had been to confuse your fund, and of transition classification fund can choose transition to increase for the index commonly with relevant theme fund, stop classification of portion appear on the market.
Fu Guoji gold once was depended on classification fund takes advantage of a favorable situation and rise, classification nowadays fund is cancelled, prospective general what course to follow? Recently, accompanying an announcement of Fu Guoji gold, classification of fund rectify and reform appeared a kind of new solution. Announcement shows, index of bank of the card in rich nation classifications fund adopts rectify and reform means to differ somewhat, this fund is stopped classification while portion appears on the market, mother fund does not have transition, need not hold holder plenary meeting to be reached to fund transition consequently classification portion is stopped appear on the market item is done vote.
The fund contract after revising on March 26, 2019 become effective, of portion of A of Fu Guoyin travel and portion of Fu Guoyin travel B stop run timeline, will shift to an earlier date by fund management person at least 20 trade day separately announcement. Fu Guoji gold shows to times weekly reporter about the personage, in view of this modification contract has signed up for superintendency branch to put on record, of the company next time announcement will be specific executive announcement.
Many fund trade public figure tells times weekly the reporter, before industry is rife the dimensions end this year June is less than 300 million yuan classification fund should be rectified and reform end, at present the likelihood already gained extend a time limit.
"Fu Guofang case " demonstrative effect
On March 23, cloth of Fu Guoji golden hair " about Fu Guozhong card bank index classifications fund of negotiable securities investment edits the announcement of fund contract " . Announcement shows, index of bank of the card in rich nation classifications put up with cancels this product to classification run a mechanism, include child fund portion is stopped appear on the market to modify fund contract with the matters concerned such as portion convert.
According to plan, bank of the card in rich nation classifications fund cancels to classification after running, classification A and B will exist no longer, can become mother fund according to scale convert.
Do not change mother fund run way, do not terminate fund contract ahead of schedule, run through stopping A/B share, and convert appeared for the new way of mother fund.
Li Zhen of analyst of Hua Bao negotiable securities points out, if index of bank of the card in sequel rich nation classifications,stop classification run reach matters concerned of A/B portion transition to be advanced smoothly, will be dimensions bigger classification fund is rectified and reform offer new solution, namely " the product can run mode through revising fund contract termination to classification and need not hold fund holder plenary meeting " . This plan hopeful drives majority to classification what fund rectifies and reform the job is successful finish.
Many do not wish the fund company personage of sign one's name tells times weekly the reporter, prospective company classifications subordinately fund is rectified and reform can consult the plan of rich nation. Nevertheless, also company of a few fund expresses to times weekly reporter, still undertaking interior discussion at present, still have no clear conclusion at present.
Memory of course of study is in before a view, classification namely fund dimensions is less than 300 million yuan classification fund, according to superintendency requirement, will leave with holder before the bottom this year in June. The compasses modulus of end occupied the ground 2018, dimensions of fund of class of on the market 7 composition under 300 million yuan.
Personage of some fund company tells times weekly the reporter on Shanghai, the window that before this view may be come from, will be superintended oneself is directive, but carry out actually rise or come in and go out certainly with this view existence, finally still with the legal time of end was given priority to 2020. A fund trade public figure affirmed Shenzhen this kind of view, according to newest superintendency requirement, rectify and reform distinguish no longer scope magnitude, annulus of the dimensions inside field goes than be being added not newly this year.
Nevertheless, personage of company of Beijing some fund emphasizes, afore-mentioned regulations may be put in certain area difference, its are in the term that company or meeting prepare with serving as by June.
In addition, classification fund existence loses excessive price case, cancel to classification the changeover basis when running is fund net value, excessive price buys the loss with may bear certain into classificationed investor. The negotiable securities that start line of business grinds the newspaper points out, classification the risk that the market may assume to fluctuate after A is changed into stock fund, predicting future as classification the drawing near that handles window period, classification of fund trade the price can be approached with fund net value gradually, and buy convert into money classification A is the investment opportunity that a risk can accuse relatively probably.
Arrive from prosperity of die out classification fund
Classification fund calls structuralization fund again, it is one distributes mother fund product two or the investment of much cent is combined, can add lever, rise and drop to be able to be quickened.
Appear from 2007 first classification since fund, till classificationed 2010,fund still is in fumble period. 2011, card inspect turns around hair classification the examine and verify of fund product is how-to seek an opinion external, card inspect can be released in January 2012 " classification fund product examine and verify is how-to " , the products plan of bisect class fund, initiative lever made a provision. After this, classification fund amount and dimensions are climbed ceaselessly litre, come to reached peak 2015.
From the point of the angle of portion, classification fund is in short number walked out of switchback inside year. Choice data shows, classification the portion April 2014 has not break through fund 50 billion. And arrived in December 2014, share growth reachs 128.9 billion, portion was broken through first one billion two hundred and fifteen million seven hundred and fifty-two thousand one hundred and ninety-two. And all these just classifications fund dimensions violent wind rises begin. June 2015, classification the total share of fund is as high as 486.2 billion. Consult 48.8 billion of April 2014, the dimensions inside 14 months grew 10 times.
Classification fund is the lever tool that average investor can participate in. Lever is a Shuang Renjian, in big ox city when can enlarge profitable effect quickly, manage together, also can magnify in the process that drops in the market deficit. Accompanying an advent of calamity, classification fund also encounters inflict heavy losses on, portion also subsequently shrink. After May 2017, classification fund portion begins to drop to 200 billion less than, and up to 2018 the end of the year, classification the newest dimensions of fund is 120.2 billion, total net value is 93.7 billion yuan.
The market dropped quickly 2015 bring about classification aggravate of wave motion of foundation outstanding achievement, card inspect can suspend classificationing fund is examined and approve. In November 2016, " classification fund business government is how-to " (say below how-to) formulary individual investor and general orgnaization investor ought to be accorded with " before application opens attributive 20 trade day, day all negotiable securities kind asset not under the RMB 300 thousand yuan " wait for a condition, just can apply for to open minute of class radical gold to stockjobber portion buys the attributive that tears apart with fundamental portion. Rose on May 1, 2017, afore-mentioned " how-to " carry out, as the promotion of the doorsill, classification the fluidity of fund and capital are flowed into all be restricted certainly.
On April 27, 2018, the meeting, silver-colored meeting that keep watch issues watch of the Central Bank, card jointly endowment canal new rule, stipulate fair collect product and product of collect of open mode illicit must not undertake portion classification clearly. Make clear at the same time, transfer in what carry out period inside, rectify and reform a plan certainly according to own and orderly means by financial orgnaization, via after finance superintends a branch to affirm, be being carried out. Classification fund rectifies and reform big screen from this open.
"From the point of the result, classification the more that fund brings to investor is harm, most and average investor is fried repeatedly do bad, play lever to be able to be hurt againer. From this angle for, classification the die out of fund is very normal. " good buy fortune to study chief inspector Ceng Linghua tells times weekly the reporter.
Since September 2018, superintend accepted 23 to classification in all the application of fund transition. From the point of the direction of transition, 12 classification fund is transition LOF, 9 changeover increase for the index, 6 transition are fund of relevant stock theme, also partial product changed investment limits and relevant subject directly.
According to not complete count, at present already 11 fund are finished clear dish or transition, among them 6 hold holder plenary meeting to pass voting transition increases for the index model active perhaps stock fund, be versed in silver-colored luck believes deep testimony among them 100, roc in Hua Xinsi road, Great Wall small the 300 evidence in mixing 10 thousand do poineering work grow to invest limits through changing, transition is brand-new fund. And most Qing Dynasty dish classification because fund dimensions is lesser,fund is and spark clear dish.
