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Short-term debt funds reproduce huge redemption extensions

Short-term debt funds reproduce huge redemption extensions
Source: China Net Finance Original title: Short-term debt fund reappears huge redemption and postponed redemption. Today, Nordex Fund shares 佛山桑拿网 Nordex short-debt bond securities investment fund (fund code: 005350) released an announcement, the fund October 2019The net redemption application of fund shares on the 8th exceeded 10% of the total fund shares of the previous open day, triggering a huge redemption.  The fund announcement states that, according to the relevant provisions of the fund contract, when the fund is redeemed in large amounts, the fund manager may decide to redeem the full amount or partially deferred redemption according to the current asset portfolio status of the fund.Based on the current status of the Fund, the current fund manager has decided to postpone the remaining redemption application on the same day, that is, on October 8, 2019, when the redemption ratio is not less than 10% of the total fund share of the previous day.  According to the announcement, regarding the redemption application on the day, the fund manager determines the redemption share on the day based on the proportion of the amount of the redemption application account in the zero account to determine the redemption share on the day; the fund investor supplements the redemption part, and the investor is submittingYou can choose to redeem or cancel the redemption when you apply for redemption. If you choose to cancel the redemption, the part of the redemption application that was not recognized on that day will be cancelled. If you choose to redeem, you will be automatically transferred to the next open day, 2019.Redemption continues on October 9.  According to the semi-annual report of Norder’s short-term debt bonds in 2019, the fund’s initial share3.3.0 billion copies, which has shrunk to 1 as of the end of the first half.3 billion copies, of which institutional investors accounted for 94% of the total share.51%, it can be seen that huge redemptions are caused by institutional investors.  According to the “Regulations on the Liquidity Risk Management of Publicly Raised Open-ended Securities Investment Funds” (hereinafter referred to as the “New Liquidity Regulations”), large-scale redemptions of open-end funds have been divided by the provisions of the “Administrative Measures for the Operation of Publicly Raised Securities Investment Funds”A single-day net redemption application exceeds 10% of the total fund share, and a large amount of redemption. The redemption income of the fund manager on the day must not exceed 10% of the total fund share. The remaining redemption applications can be postponed and can also be placed in the fund contract.China and China have agreed to implement specific measures for deferring redemption applications.  The data shows that Norder’s short-term debt bond is the third fund to postpone redemption this year. On January 23 and March 28 this year, Soochow Youyi Bond and Zheshang Fengli Enhanced Bond also had postponement after huge redemptions.redemption.From December 10th to December 14th last year, China Post 重庆耍耍网 Ruili Enhanced Bonds issued an announcement that a large amount of redemption had been implemented for four consecutive trading days.  Flush iFinD data show that as of the end of the first half of the year, there were 85 funds (A / B / C divided separately) with a single shareholder share of 100%, and 725 funds (A / B / C divided separately) with a single investmentThe share of the investors accounted for over 90%, part of which was bond funds. Funds that have experienced huge redemption delays and redemptions since 2018 also returned to bond funds. The sequelae of institutional outsourced funds dependence have gradually emerged.