Class A Share Redemption B Class Share Leverage Continues To Decline

According to the recent announcement of the finance and communication fund, the class one share of the Treasury debt classification fund opened the redemption in October 17th and applied for 86 million 960 thousand and 900 redemption shares, while the purchase amount was only 809 thousand and 900 yuan.

The share of the fund was reduced to 50 million 246 thousand and 800, while the share of the B class of Treasury net debt remained unchanged at 65 million.

After the conversion in October 17th, the net unit value of Treasury net debt A was refunded to 1 yuan, and the net unit value of pure debt B was 1.159 yuan.

The leverage of the B share was reduced to less than 2 times from the initial 3.3 times in the beginning of this year.

It is worth noting that the agreed annual yield of the net debt A of the Treasury is +2.5% of the benchmark interest rate of one year. According to the current benchmark interest rate of 3%, its annual annualized yield is 5.5%, and it is open to redemption every 3 months.

The 5.5% agreed income is higher in the classified debt class A at present.

Coincidentally, Xincheng double profit classification debt base also announced last week. After opening the redemption in October 10th, double surplus A was redeemed by 26 million 342 thousand and 400 shares, the total purchase amount was only 2 million 642 thousand yuan. After the redemption, the latest share of double profit A was 68 million 935 thousand and 500, and the double surplus B had not opened the redemption, and the share was 109 million.

The proportion of double surplus A and double profit B is reduced to 1.89:3. The net value of double profit A is 1 yuan that day, and the net value of double profit B is 1.553 yuan.

This means that the real net leverage of double surplus B is as low as 1.4 times, which is far from 2.33 times that of the fund set up two and a half years ago.

The fidelity double profit classification fund was established in April 2012. The double surplus A opens a redemption every half a year. Double surplus B listing paction is not open to redemption.

Agreed annualized double profit A

The benchmark annual interest rate is +1.5%, which is calculated at the current benchmark interest rate. The agreed annual yield is 4.5%.

In addition, it was open in October 15th.

The credit increase A in China and Europe also showed net redemption. The latest annualized yield of the fund was 4.25%.

One in Shanghai

Analysts said that the class debt class a share was frequently redemption. On the one hand, it reflected the anticipated demand of the current market funds for the yield. On the other hand, the classified debt class A, a niche product, failed to find suitable investors, because in September, there was a net purchase of category a with a yield less than 5%.