Extended data:
Definition of fund subscription and subscription:
Fund subscription refers to the process of investors buying fund shares during the period of raising open-end funds and before the establishment of funds. Generally speaking, the subscription price of the fund is the face value of the fund share (1 yuan/share) plus the sales expenses of the fund. When investors subscribe for funds, they should fill in the subscription application form (or electronic subscription application form) at the fund sales point and pay the subscription fee.
Fund subscription refers to the behavior that investors open fund accounts through the fund sales platform and apply for the purchase of fund shares in accordance with the prescribed procedures. The number of subscribed fund shares is calculated on the basis of the net asset value of the fund shares on the subscription date, and the specific calculation method must meet the requirements of the relevant regulations of the regulatory authorities and be specified in the fund sales documents.
The difference between fund subscription and subscription:
First, the application time.
Whether the fund subscribes or not is not determined by the individual wishes of investors, but depends on what stage the fund is in. If the fund is established before fund raising, it shall be purchased by subscription.
If the fund has been established and is in the normal operation period, the subscription method will be adopted.
Second, the purchase price.
The subscription and subscription prices of funds are different. The subscription price of the fund is the unit price of the fund, which is generally 1 yuan. The subscription price of this fund is the net value of the fund unit on the day of subscription. After the fund is established through normal operation, its unit net value will change. It may be higher than 1 yuan, lower than 1 yuan, or 1 yuan.
Third, the redemption conditions.
Generally speaking, after the fund purchase, the fund begins to enter a closed period, during which trading is not allowed, and the fund manager needs to lighten up the fund through this closed period. In other words, the subscribed funds can only be redeemed after the closure period. The purchased funds can be redeemed on the next trading day as long as they are successfully subscribed.
Fourth, transaction costs.
The difference of fund transaction cost is sometimes reflected in the transaction cost. In many cases, the subscription rate of the fund will be set to different proportions in the subscription period and subscription period, that is, even if the same amount is purchased, the subscription fee and subscription fee of the fund are different. But generally speaking, the subscription fee of the fund is lower than the subscription fee. Most fund sales platforms will discount the subscription fee by 1, while the subscription fee is generally not discounted.
Fifth, cancel the regulations.
The subscription application that has been formally accepted by investors during the stock issuance period is irrevocable; However, if an investor submits a subscription application within the fund business processing time of that day, he can submit a cancellation application and cancel it before 15: 00 on that day. Many funds sell funds in order to complete scale raising as soon as possible, so the subscription fee is generally cheaper than the subscription fee. However, whether it is the subscription fee or the subscription fee, the fund company will collect it in one lump sum after the investor purchases the fund.