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Value analysis of New Changsheng Tongqing: three-year hierarchical operation period, open index operation

http://www.sina.com.cn    03:59, April 26, 2012    Sina Finance micro-blog
Huatai United Securities Co., Ltd. Wang Fang


Changsheng Tongqing Separable Trading Stock Classified Fund (hereinafter referred to as "Changsheng Tongqing") is the first maturing classified fund in China. The fund will mature on May 11, 2012 and be transformed into Changsheng Tongqing CSI 800 Index Classified Fund (hereinafter referred to as "Changsheng Tongqing");

After the transformation, New Tongqing A and New Tongqing B continue to trade in the secondary market;

According to the calculation, the discount rate after the listing of New Tongqing A may be about 0.34%;

According to the calculation, the discount premium rate after the listing of New Tongqing B may be within the range of [- 1.27%, 2%];

Weighted according to the 4:6 share ratio of New Tongqing A and New Tongqing B, the overall non arbitrage discount premium rate of New Changsheng Tongqing may be between [- 0.9%, 0.6%].
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