Why is buying an open end fund partially successful?

From the perspective of the process of open-ended ** fund-raising to investment, it has gone through 4 periods: the fund-raising period, the capital verification period, the closed period and the normal subscription and redemption period, and the situation of investors buying and selling ** shares in these 4 periods is different.

**The management company sells to investors through the company's direct sales agencies or banks and other distribution agencies, raising funds, investors can only ** at this stage, and can not sell **shares, ** is the net value of the share (1 yuan), and the cost of ** share is called the subscription fee.

Due to the continued popularity of open sales, in order to avoid the inconvenience of investment caused by the excessive amount of funds raised, a certain limit on the amount of shares raised is generally stipulated (such as 10 billion), and the excess part is not confirmed.

Due to the recent hot sales, the regulatory authorities recently issued a notice requiring the implementation of proportional allotment when the subscription application of the new ** exceeds the established limit.

After the end of the fundraising period, it will enter a capital verification period of no more than 7 days, and after the capital verification, the contract will be formally established and then enter the closed period, at which time the contract has taken effect, and the investor will not accept the request of investors to subscribe or redeem the shares, and the investors can neither sell the shares during this period. From a practical point of view, many ** in the later part of the closed period first open subscription, investors can subscribe according to the **net asset value** but can not redeem the ** shares they hold. According to the provisions of the Investment Law, the closure period shall not exceed 3 months.

**You can accept subscription and redemption at the same time, which enters the normal subscription and redemption period, and investors can subscribe and redeem according to the net value of the open** daily share.

Hello, due to the recent popularity, some celebrities ** managers newly issued ** are sought after by the market, greatly exceeding the **scale, in order to protect the interests of investors, will be placed in a certain proportion, so it can only be partially successful. For example, the newly issued CUAM Midcap Value**.

There are more funds that should be subscribed, and they are distributed according to the proportion of funds.

Tip 1: Don't borrow money to invest: Try not to borrow money to invest, long-term investment will inevitably have ****, so as not to be burdened by interest burden and short-term lock-up.

Tip 2: Diversification: If you have enough funds, you can consider diversifying your investments to multiple according to the investment characteristics of different **.

In this way, if the performance of one ** is temporarily underperformed, the unsatisfactory performance may be offset by the outstanding performance of another** through diversification.

Tip 3: Prepare for the long term: Most successful investors have a long-term investment plan.

Long-term investment can give capital time to grow and can also overcome short-term fluctuations. Generally speaking, the short-term volatility of ** is very large, but if the investment time is long enough, you can avoid the risk of short-term fluctuations, coupled with the stock selection and operation of professional ** managers, there will be a greater chance of winning in the long run.

Tip 4: Understand the characteristics of the investment you choose**: Before making an investment decision, you need to understand your investment needs and investment goals.

When choosing, you need to carefully read the contract, prospectus or prospectus and other documents in order to truly and comprehensively evaluate the expected annualized returns, risks, past performance and other conditions of the management company, so as not to choose the best varieties that do not suit you.

Tip 5: Review your needs and circumstances regularly: While we should invest for the long term, we need to update our investment decisions as we age, change your financial situation or investment goals.

Most successful investors will seek higher profits in the early stages of saving and investing, and over time, they will gradually shift to more stable investments.

Tip 6: Don't operate too frequently: Different from the operation mode of investment** and closed-end **** in and out, open** is basically a medium and long-term investment tool.

This is because both closed-end and closed-end are affected by market supply and demand and have greater short-term volatility, while open-ended trading directly depends on the net asset value and is basically not affected by market speculation. Therefore, it is not only not easy to make money by grabbing the opportunity to enter and exit or chasing the rise and fall, but will increase the handling fee and increase the cost.

Open-ended ** has not appeared in China for a long time, and investors need to be aware of the following misunderstandings when investing in open-ended**:

1) Have unrealistic illusions about the expected annualized rate of return on investment. ** It can provide investors with the opportunity to increase their capital, but it is not an opportunity to get rich overnight. The expected annualized return of investment will always be good and bad, and it is unrealistic to expect the expected annualized return of open-ended** to always be higher than the long-term average of the market.

Investors should form a reasonable expectation of the expected annualized return according to the investment style, the manager's operation and the market environment.

2) Focus only on expected annualized returns and ignore risks. Investors must always remind themselves that any investment activity is risky, and the risk corresponds to the expected annualized return. Although it is professional financial management and portfolio investment, it can only diversify risks and minimize risks, rather than completely eliminating risks.

Open**corresponds to closed**, closed**is closed**, there is a fixed closed period, and no transactions can be made during the closed period, so investors can not take it out, and generally can only wait until the regular open day or **listed trading to take it out.

Those who invest in Jingzu Spine need to pay attention to the fact that part of the closed-end ** will be listed and traded on the Securities Suichen Securities Exchange, if the closed ** is listed and traded in the floor market, then the investor needs to open an ** account and handle the transfer custody business, and the investor will be transferred to the ** company, and it can be sold during the trading hours. If the closed-end ** is not listed and traded in the on-exchange market subsequently, then the investor can only hold the closed-end ** to maturity, and the principal and income will be automatically returned to the investor after the expiration.

Closed-end liquidity is relatively poor, if investors have high requirements for liquidity, then it is better to choose open-ended, and you must do a good job of capital planning to buy closed-ended.

Classification: 1. According to whether it can be listed and traded on the **exchange, open-ended can be divided into open-ended and contract-open. According to the different investment objects, open-ended **, bonds**, hybrid**, money market**, **, options** and warrants** and so on.

2. According to the different investment objectives, open-ended ** can be divided into growth **, income ** and balanced **. According to different investment philosophies, open-ended can be divided into active and passive (exponential).

Peculiarity. 1. Scale: The shares issued by the open-ended are redeemable, and investors can also subscribe for the shares of the base reserve at will during the duration of the market, resulting in the total amount of funds constantly changing every day.

In other words, it is always "open".

2. Buying and selling methods: When investors invest in open-ended, they can subscribe or redeem at any time from the ** management company or sales agency.

3. Trading: Open-ended trading is calculated on the basis of the net asset value of the share, which can directly reflect the net asset value of the share. The relevant fees that investors need to pay (such as initial subscription fees and redemption fees) are also included in the ****.

Fourth, the direction of investment: the flexibility of the open ** is larger, and the scale of funds is easier to expand, so it is suitable for the financial market with a high degree of openness and large scale.

5. Investment strategy: Open portable** must keep a part of the cash so that investors can redeem it at any time, and cannot use it all for long-term investment. Generally, it invests in assets with strong liquidity.