Category: Money tips Release Date: 2007-07-21
Shenzhen 100ETF will be traded next week, the reporter on the issues of concern to investors, fund managers interviewed Ma.
Reporter: When investors to subscribe at April 18, the investment return rate?
Ma: From the funds to subscribe for the deadline to March 17 until April 18, investors realized an accumulative total fund net yield 6.82%.
Reporter: Why Shenzhen 100ETF conversion after the subscription period the net growth rates and real rate of return investors, there are differences?
Ma Jun: April 14, Shenzhen 100ETF fund the contract in accordance with the requirements of the Fund's share of the conversion, conversion ratio of 0.94948342, conversion is complete, April 14 from the original 1.063 yuan NAV converted into 1.063/0.94948342 = 1.119 yuan the same time, the fund was reduced to the original share of 94.95 percent, the entire conversion process is somewhat similar to a listed company Sugu process, although the fund units of the net increase in subscribers look, but the number is proportional to the decline in share, and therefore converted the day before and after the Fund's total assets remain the same.
Reporter: Why should investors now recognized when fund shares and the subscription of the different?
Ma Jun: The share of the date of conversion, ETF of the Fund's total assets 5,480,979,078.98 yuan, the total amount of 5,157,736,818 shares were because of conversion of funds after the net 1.1190, higher than the pre-conversion net (1.0630 yuan), April 14 at the customer total assets of the same circumstances, the net increase in units of the fund shares, they reflect the reduction of the fund shares.
Reporter: Easy Fonda deep 100ETF share listing of the reason for conversion? Conversion processes, formulas and an example?
Ma: (1) Due to perfect tracking ETF Index ETF shares will therefore be converted into the net price index and the deep one-thousandth of the value of the 100 are basically the same, after a translation directly from the index after the investors, the changes in estimates of net worth changes.
(2) The conversion ETF shares have the following processes: fund managers and fund shares to determine the date of conversion (T day, specific to the deep 100ETF is April 14), and advance notice; T day after the close of fund managers calculate the date of the fund net asset value of X, the total fund shares Y, and with the fund custodian reconciliation; assume T on the value of the underlying index I, then the T-day target fund share of the net I/1000, conversion ratio of the fund shares calculated as follows: conversion ratio = (X / Y) / (I/1000), with rounded way to preserve the decimal 8; Depository and Clearing Corporation under the above-mentioned conversion ratio of share holders of the funds to subscribe for shares in the fund be converted, after conversion of funds share calculated to an integer bits (fractional part of the rounding, rounding part of the property included in the fund), plus the total conversion obtained after the total amount of fund shares; registration and settlement agencies in the confirmation by the fund managers for the fund shares to the fund holders of shares change the registration.
Reporter: How can investors participate in the Shenzhen Yi Fonda 100ETF business?
Ma Jun: Investors may like the closed-end funds trade like stocks and securities firms through the sale of Shenzhen 100ETF, also can be in-kind purchase, and redemption of ETF shares.
Reporter: Easy Fonda in the Shenzhen Stock Exchange Shenzhen 100ETF fund code?
Ma Jun: Easy Fonda Shenzhen 100ETF's ticker symbols are 159,901, tracking the deep 100 index code is 399.33 thousand.
