Our reporter Liu Qinghua
Recently, many active equity funds have launched a "restricted purchase" mode, which limits the amount of subscription or large subscription.According to statistics, from June to June 28, for the reasons of ensuring the smooth operation of the fund and protecting the interests of the holders, there have been at least 34 active equity funds restricted from subscription.In May, there were about 19 active equity funds restricted from purchasing for the same reason, a significant increase.
The reporter noticed that among the funds restricted from purchase since June, there are many popular products managed by well-known funds, as well as products with better performance and top rankings during the year.
Multiple Equity Fund Purchase Restrictions
On June 28, Invesco Great Wall Reform Opportunities announced that, in order to protect the interests of fund holders, those who subscribe for a single fund account of more than 2 million yuan in a single day will be sorted and confirmed according to the single application amount from high to low; An application with a cumulative amount of more than 2 million yuan will be confirmed as a failure, that is, the purchase of more than 2 million yuan will be restricted.On June 24, the three balanced hybrid funds, namely the Investment Promotion Steady Balance, the Investment Promotion Select Balance, and the Investment Promotion Select Balance, restricted the subscription of more than 5 million yuan.On June 23, Huaxia Zhisheng Value Growth, Harvest New Fortune, Furong Fukang, and Huaxia Classic Configuration also restricted subscriptions.The reason for the purchase restriction is to protect the smooth operation of the fund and protect the interests of existing fund holders.
Since June, active equity funds with restricted subscriptions have gradually increased.According to statistics, from June to June 28, in order to protect the smooth operation of the fund and protect the interests of existing fund holders, at least 34 active equity funds have suspended subscriptions or suspended large-scale subscriptions.In May, there were about 19 active equity funds that suspended subscriptions or subscribed in large amounts for the same reason.Among them, there are some funds with high attention.For example, on June 22, the one-year holding period of Zhonggeng Value Pilot and Zhonggeng Value Quality, managed by well-known fund manager Qiu Dongrong, announced the purchase restriction. Among them, Zhonggeng Value Pilot limited the purchase of more than 10,000 yuan; Zhonggeng Value and Quality was limited to 100,000 yuan Subscriptions above RMB are restricted.In addition, Xinao Core Technology, managed by Feng Mingyuan, restricts purchases of more than 5 million yuan, and Bank of Communications Qicheng Mixed has restricted purchases of more than 1 million yuan as early as April 28 this year.
Control the scale to ensure the operation
Funds take the initiative to limit purchases, usually to control scale.Since the beginning of this year, the A-share market has been volatile. Affected by the previous decline, the overall return of equity funds was negative, and the net value of some funds once fell by more than 40%.Some other funds have performed better in the downturn this year, with smaller declines or positive returns against the market. The market has rebounded recently and market sentiment has picked up. It is not ruled out that these funds are sought after by funds due to their better performance.
For example, on June 22, Bank of Communications Schroders continued to grow and restricted the purchase of more than 30 million yuan in a single day.From the perspective of performance, as of June 27 this year, the fund has accumulated a return of .45% during the year. Although there is still a small loss, it still ranks among the top active equity funds.The cumulative return during the year for Bank of Communications Kaicheng, which is limited to as low as 1,000 yuan, is 3.75%.
According to statistics, among the top funds in the performance rankings, Jinyuanshunan Yuanqi, Bank of Communications Ruihe Sanyou, China Merchants Steady Balance, Caitong Multi-Strategy Fuxin, Xinao New Energy Selection and many other funds have been suspended. Subscribing or suspending large-scale subscriptions, among which investment promotion is stable and balanced, and Xinao New Energy Selection has restricted subscriptions in the near future.
Near the end of the first half of the year, the fund is also facing the pressure of "high school entrance examination" ranking. At this time, the restriction on large-amount subscription funds is also conducive to ensuring the smooth operation of the fund and better performance in the "high school entrance examination" competition.On the other hand, in the recent rebound market, the new energy track performed outstandingly. From April 27 to June 27, the new energy vehicle index, photovoltaic index, etc. both rose by about 60%, and the fund with the highest yield It also mainly focuses on new energy sources. Restricting subscriptions at this time is also conducive to ensuring the smooth operation of the fund.
(Editor in charge: Li Rong)
