The huge redemption caused by CCB C deficient 67.56%- fund channel Xinfeng day christie stevens

The huge redemption caused by CCB C deficient 67.56%- fund channel Xinfeng daily Absolute Return Fund — CCB Xinfeng returns C share on Friday day net plunged 67.56% sparked strong concern. Fund analyst and insider analysis, the fund is likely to occur after the huge redemption of net tail difference calculation, leaving the remaining investors instantly hold up. Yesterday, CCB Fund issued an emergency, should cause fluctuations in the net fund and related treatment measures are described, and uphold the principle of customer first, to repair the CCB Xinfeng return class C share of the net, avoid the fund holders because the valuation method caused by fluctuations in the net loss of interest. Estimation of net value of the fund to a day fall to 67.56% before last Friday, although the stock market continued to drop, but CCB Xinfeng returns C share NAV has remained stable, not by the stock market crash, as of January 28th, the fund NAV 1.039 yuan. But in January 29th, a sudden change in the situation, the letter of the fund’s disclosure on the fund unit net worth only 0.337 yuan a day, down 67.56%, a non leveraged fund the biggest one-day decline in record. Watch the performance from the net, this is not a huge loss of investment mistakes, because the CCB net return per unit of A Xinfeng share rose 0.29%, and the fund stock positions has been very low, bond holdings the proportion is not high. Fund researchers pointed out that, in the case of huge redemption, unit net tail difference is likely to be the main cause of this bizarre crash. And the letter of guarantee fund yesterday’s announcement also confirmed this point. CCB Fund said in the announcement, CCB Xinfeng class C shares the net return volatility is due to the existing valuation methods of the fund’s share of the net. According to the fund prospectus and contract provisions, the valuation of fund share net worth is accurate to 0.001 yuan, after the decimal point fourth, four, five into, this valuation method is also the current fund industry general method. But CCB Xinfeng class C shares had huge rewards redemption in January 28th, due to the net value of the fund share four pieces of the error of five class C shares included in the fund assets, resulting in significant fluctuations in the fund class C share of the net. CCB Fund believes that the CCB Xinfeng return C share of the net single day volatility, is a special event which appears in the current valuation method, the calculation of net itself in conformity with the provisions of relevant laws and regulations and the contract. So, in the end, how much redemption will have so much damage to the left behind investors? Fund researchers explain, if CCB Xinfeng returns C share share in January 28th the scale of 700 million 240 thousand copies, of which 700 million institutions share, 240 thousand shares held for retail, January 28th foreign reported a unit value of 1.039 yuan, but if you keep to four decimal places and even five, the net is possible in 1.0387 yuan to 1.0388 yuan. But CCB Xinfeng C share investors on the day of the purchase and redemption in accordance with 1.039 yuan settlement, if 700 million C share held by institutions in January 28th all the redemption agency will receive 727 million 300 thousand yuan of funds; 巨额赎回致建信鑫丰C单日亏67.56%-基金频道  绝对收益基金――建信鑫丰回报C份额上周五单日净值暴跌67.56%引发市场强烈关注。基金研究专家和知情人士分析,该基金很可能是发生巨额赎回后净值尾差计算使得剩下的投资者瞬间套牢。  昨日,建信基金紧急发布公告,就该基金的净值波动原因及相关处理措施进行了说明,并秉持客户至上的原则,对建信鑫丰回报C类份额净值进行修复,避免基金持有人因估值方法造成净值波动受到利益损失。  估算方法致基金净值一日跌去67.56%  在上周五之前,虽然股市持续大跌,但建信鑫丰回报C份额单位净值一直保持稳定,并未受到股市暴跌的冲击,截至1月28日,该基金单位净值为1.039元。但是,1月29日风云突变,建信基金官网披露当天该基金单位净值只有0.337元,一天之内猛跌67.56%,创出非杠杆基金最大单日跌幅纪录。  从净值表现看,这一巨大亏损并非投资失误导致,因为当天建信鑫丰回报A份额的单位净值上涨了0.29%,而且该基金股票仓位一直很低,持有的债券资产占比也不高。有基金研究人士指出,在巨额赎回情况下单位净值尾差计算很可能是导致这一离奇暴跌的主因。而建信基金昨日的说明公告也证实了这一点。  建信基金在公告中表示,建信鑫丰回报C类份额出现上述净值波动是由于现有基金份额净值的估值方法所致。根据该基金说明书和合同规定,基金份额净值的估值精确到0.001元,小数点后第四位四舍五入,这一估值方法也是目前基金业内通用的办法。但建信鑫丰回报C类份额于1月28日发生了巨额赎回,由于基金份额净值四舍五入产生的误差计入C类份额基金财产,导致了基金C类份额净值大幅波动。建信基金认为,此次建信鑫丰回报C份额净值出现单日大幅波动,是在现有估值方法下所出现的特殊事件,净值计算本身符合合同和相关法规的规定。  那么,到底出现了多大的赎回竟然会对留守投资者造成如此之大的杀伤力?  基金研究人士对此作出解释,假如建信鑫丰回报C份额在1月28日的份额规模为70024万份,其中的7亿为机构份额,24万份为散户持有份额,1月28日对外报出的单位净值为1.039元,但如果保留到小数点后四位甚至五位,净值很可能在1.0387元到1.0388元之间。  但建信鑫丰C份额投资者当日的申购和赎回都按照1.039元结算,如果机构持有的7亿份C份额全部在1月28日赎回,机构将获得7.273亿元资金(按照小数点后四位净值计算则应为7.2714亿元),因为单位净值尾差而使机构投资者多获得了约16万元的赎回资金,这也正是余下的投资者所亏损的金额,由于余下的散户规模微乎其微,导致单位净值出现异乎寻常的暴跌。  巨额赎回及净值披露规则有待完善  可以看出,建信鑫丰回报C份额单日巨亏暴露出基金净值核算和披露的潜在问题。业内人士呼吁规范巨额赎回行为和净值披露规则,避免对持有人造成“非投资性”巨亏,从而维护基金行业的信誉和形象。  北京济安金信副总经理王群航认为,此次建信鑫丰回报C份额的净值单日暴跌67.56%,是基金净值计算在现有会计制度下、在现有净值计算方法下和在某些基金当前特殊的客户结构情况下所出现的异常的和必然的表现。市场上创新不断涌现,公募基金在业务细则上还有许多需要完善的地方,只有这样才能充分地、公平地保障赎回者和留守持有人的利益。  具体该如何规范,有业内人士认为,应该进一步增加基金净值小数点披露,当巨额赎回可能造成其他持有人的潜在损失时,应该拒绝赎回并报告监管层处理或直接清盘等。对于投资者来说,在这些业务细则尚未得到规范的情况下,应尽量避免投资那些机构占比独大的基金。  建信鑫丰回报C份额1月28日的规模为70024万份,其中,7亿为机构持有,24万份为散户持有,投资者的申购赎回都按照当日公布的净值1.039元结算。  如果机构持有的7亿份C份额全部在1月28日赎回,将获得7.273亿元资金(按小数点后四位净值计算,应为7.2714亿元左右),计算尾差使机构多获得约16万元资金,这正是余下的投资者所亏损的金额。由于余下的散户规模微乎其微,单位净值出现异乎寻常的暴跌。 相关的主题文章:

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