Big money abandon new fund, left behind holders enjoy net rise – fund channel-工号9527为您服务�����

Large abandoned funds to fight the new fund holders enjoy left net up – channel fund Securities Times reporter Zhao Ting before the Spring Festival, the stock market fell, hit new funds also suffered a huge redemption. However, after a large number of funds fled, the net value of funds increased substantially, those who were "left behind" holders enjoyed a substantial rise in the fund’s net value. February 1st, easy to enjoy the new A net up 36.76%, yifangda Xinyi I share NAV rose 15.51%, prior to this, China Everbright, Societe Generale suelly Xin Xin A, Yinhua Huili hit new fund net rose sharply. Shanghai fund manager said, hit the new fund net worth rose mainly due to the fund was redeemed, resulting in the remaining share net upgrade. Data show that since the establishment of the A is easy to enjoy the new shares hit 44, allocated a total of 632 thousand and 600 shares, while the scale from the beginning of the three quarter of 2 billion 81 million to the end of the fourth quarter of 1 billion 102 million copies, has shrunk by about half; yifangda new revenue total shares hit 56, allocated a total of 15 million 119 thousand and 700 shares, nearly two quarter scale decline. A new fund manager in Shanghai said that under the new regulations of IPO, the proportion of retail investors to participate in the new increase, the advantages of large funds is no longer obvious. The new play success rate has been reduced to about 12000, the future is still down space. In the case of increased market volatility, the end positions hit a new fund allocation in equity market there is a big risk, playing the new fund has already become "chicken ribs", the future will increase the redemption pressure. Insiders said, playing the new fund net rise is a huge hit that shares accounted for the proportion of the net increase of new shares, the strong will be reflected in the net value of the fund, on the other hand, the generated redemption redemption fee will pull high net worth. Vanguard fund product department Pan Jinyao introduced, redemption fee will be affected by the length of the holding period, the type of funds held by the impact of various factors. Generally, the share of new funds is divided into class A and class C, and the two kinds of share are different in the way of collection of redemption fees. A share held for less than 6 months (6 months or more can not charge a redemption fee), according to the holding period and stage charge different rates for the redemption fees, and according to the length of the holding period with different proportion of the redemption fee included in the fund assets. "In this case, if the new fund’s institutional investors accounted for a high proportion, and concentrated redemptions within 6 months, will increase the net fund value. The shorter the holding period, the higher the proportion of redemption fund assets, the greater the impact on the net value." Pan Jinyao said. For holders of class C share investors, usually holding period will charge a redemption fee and all included in the fund assets within 30 days, 30 days or more redemption fee will not be charged. If the holder on a large scale within 30 days of redemption will cause the net value of the fund’s volatility, but usually short-term hit new investors will choose to invest in C shares and held for more than 30 days after the redemption. However, for these gains, fund manager Gao Hankun said that if large redemption occurs, what will happen with uncertain fund. Retail investors on the product structure, the holder structure information limited, through these arbitrage is unlikely.

大资金抛弃打新基金 留守持有人坐享净值上涨-基金频道   证券时报记者 赵婷  春节前股市下挫,打新基金也遭遇巨额赎回。然而,大量资金出逃后,基金净值大幅提升,那些“被留守”的持有人享受到了基金净值的大幅上涨。  2月1日,易方达新享A净值上涨36.76%,易方达新益I份额单位净值也上涨15.51%,在此之前,兴业聚利、光大欣鑫A、银华汇利等打新基金净值均出现大幅上涨。  上海一位基金经理表示,打新基金净值大涨主要是由于基金遭到大额赎回,导致剩余份额净值提升。  数据显示,易方达新享A成立以来共打中新股44只,累计获配63.26万股,而其规模从三季度初的20.81亿份降至四季度末的11.02亿份,缩水约一半;易方达新收益共打中新股56只,累计获配1511.97万股,近两个季度规模也出现下滑。  沪上一位打新基金经理表示,IPO新规之下,散户参与打新的比例提升,大资金的优势不再明显。而打新中签率已降到万二左右,未来仍有下跌空间。在市场波动加大的情况下,打新基金在权益市场配置的底仓存在较大风险,打新基金已成“鸡肋”,未来赎回的压力还会增大。  业内人士表示,打新基金净值上升一方面是巨额赎回让打中的新股占净值比例增加,新股的强势会体现在基金净值中,另一方面赎回产生的赎回费也会拉高净值。万家基金产品部潘劲尧介绍,赎回费将会受到持有期长度、所持有的基金份额类型等多方面因素影响。  通常打新基金的份额分为A类和C类,两类份额在赎回费的收取方式上有所不同。A份额对于持有6个月以内的(6个月以上可不收取赎回费),按持有期、分阶段的收取不同费率的赎回费,并按持有期长短以不同比例将赎回费计入基金财产。 “在这种情况下,如果打新基金的机构投资者占比高,且在6个月内集中赎回,会使基金净值有所上涨。持有期越短,赎回比例占基金资产比例越高,对净值影响越大。”潘劲尧说。  对于持有C类份额的投资者来说,通常持有期在30天以内会收取赎回费且全部计入基金财产,30天以上则不收取赎回费。如果持有人在30天内大比例赎回也会导致基金净值的波动,但通常短期的打新投资者会选择投资C类份额并在持有期超过30天后赎回。  不过,对于“捡漏”收益,万家基金经理高翰昆表示,大额赎回是否发生,哪些基金会发生都不确定。散户投资者对产品结构、持有人结构等信息了解有限,通过“捡漏”套利可能性不大。相关的主题文章: