A fire in winter, this kind of fund sell like hot cakes to suspend purchase


It’s a bit cold this spring, colder than winter…Fund sells very difficult, but a kind of fund sells like hot cakes to suspend however explain buy!That’s the interbank certificate of deposit fund.Mr. Lemon wrote a popular science article about interbank deposit certificate fund before: Click to see some basic content please refer to the above article, here will not repeat the length.Now to say is that the establishment of just two months of multi-point interbank deposit funds, some funds have been “sold out”!What about “sold out”?Because this kind of fund has a size limit of 10 billion yuan and cannot exceed this limit, The Wells Fargo China Interbank Offered Deposit Index Fund (014427) reached the upper limit on February 16, and the proportion of subscription was confirmed on that day to ensure that the size did not exceed the upper limit. The proportion of confirmation was 65.1165%, close to 2/3, that is to say, the remaining 1/3 of the application amount was returned.On the same day, Wells Fargo fund also issued a suspension of subscription notice, no longer accept subscription and order, and the redemption and transfer out of normal.This is actually very normal operation, because after reaching the upper limit, how many redemption every day, can accept how many subscription, if adhere to open subscription, will often appear proportion allocation, very troublesome, also affect holder experience, stop subscription for all parties are good.Why hot fund sales so difficult time period, this kind of product how so show?Lemon you think has the following several reasons: first is the advantage of the product itself, trade certificates of deposit funds in dueling returns money funds have obvious advantages, compared with the short-term debt funds may be little weaknesses, but the obvious advantages compared to short-term debt fund volatility from equity curve Angle to consider, trade certificates of deposit funds is more popular than short-term debt funds.Secondly, the market itself is relatively powerful. Since the beginning of the year, the market of the bond market is relatively good, and the periodic returns of the interbank certificate of deposit fund are very attractive. For example, the annual returns of The Rich Country are 0.48%.49 days!If this is turned into the income of the monetary fund display, it is close to 1 yuan of income, compared with the baby’s income level of more than 5 hair, the advantage of all show.If the market volatility adjustment, the return looks worse than the money fund, I believe it will not grow so fast.Finally, the scale is limited, the first batch of 6 products, each ceiling of 10 billion, the ceiling is 60 billion, some fund companies have not made all-out efforts, their own 10 billion arrived.This kind of product is difficult to differentiate, with high homogeneity and relatively simple management. We don’t know when the second batch of products will be ready.One of the first batch of alternative CD funds is a total of six, managed by large, medium and small companies, established companies and junior new companies.This kind of product itself is a category between money fund and short bond fund. The return of money fund is relatively low, but the certainty is high, and there is no positive or negative return fluctuation.Short-term bond fund returns may be the highest in the long run, but the fluctuations are relatively large, often periodic negative returns;In the long run, the return of interbank certificate of deposit fund may be slightly lower than that of short bond fund, but the volatility is much lower than that of short bond fund, with much better stability and holding experience. Many investors still value experience, but there is no difference in liquidity between the two funds.Now the first six interbank deposit certificates have entered the stage of stable operation. From the fluctuation of net value, we can see that different companies have different ideas. Some companies tend to be more stable, while others are more aggressive, and there are differences in details.In any case, for investors, there is still a very good alternative investment category.More fund fresh thing, welcome to pay attention to the lemon base people!

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