How much will the fund fall and be kicked out of the market?

The so-called fund liquidation is to realize all fund assets and distribute the proceeds to the holders.

According to the relevant laws and regulations of China's funds, if the net asset value of the fund is less than 50 million yuan for 60 consecutive days, or the number of fund share holders is less than 65,438+000 for 60 consecutive days, the fund manager has the right to announce the termination of the fund after approval by the China Securities Regulatory Commission. If the above situation occurs for 20 consecutive working days, the fund manager shall explain the reasons and submit the solution to the China Securities Regulatory Commission.

Now, if we simply calculate by net value, due to the impact of splitting or dividends, it is not excluded that the net assets of individual funds are close to or below 50 million yuan. For example, the latest net value of Tianzhi Quality Optimization Fund is 0.8772 yuan. Last year's annual report showed that the fund share was 33.778 million. Assuming that the share has not changed, its asset size is only 29.63 million yuan, which is already below the warning line of 50 million yuan.

In addition, the fund is unlikely to be liquidated. At present, there is no precedent of being liquidated because the fund scale does not meet the requirements in China. Even if the size of the fund once fell below 50 million yuan, as long as it did not appear for 60 consecutive days, it did not meet the conditions for liquidation. Moreover, even if a fund really reaches this level, it is impossible for the fund company to sit idly by. They can seek the support of big customers or solve the problem by subscribing their own funds.

This year's market situation may be a rare opportunity for the development of small funds. The ship turned around, and the "mini" fund showed good resilience in the recent stock market decline. For example, Golden Eagle's small and medium-sized fund earned only 54.49% last year, ranking last among 77 comparable equity funds. Since this year, the fund has only lost about 7%, ranking fourth among equity funds.

Even liquidation, that is, returning money to investors according to the net value of the last day, is equivalent to compulsory redemption. It's just that the liquidation procedure may be more complicated than normal redemption, and there may be liquidation expenses.

Moreover, fund companies will not let their funds "close down" easily, and will definitely find ways to make high net worth, or pull funds to make large-scale, and the advantages of flexible style of small-cap funds can also be better played in the weak. Therefore, there are likely to be some speculative opportunities.

It is suggested that investors who have already held or will liquidate funds should not blindly redeem them. The first is the risk of investment itself, which depends on the size of its position, stock holding and investment style. Secondly, we should pay attention to its liquidity. For relatively small funds and funds with liquidity risks, investors are generally not advised to buy them. In particular, the scale of monetary funds is more critical.