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In order to better meet the financial needs of investors, China Post Venture Capital Management Co., Ltd. (hereinafter referred to as "the Company") and Postal Savings Bank of China Limited (hereinafter referred to as "Postal Savings Bank")“ Postal Savings Bank ”）It was agreed that from April 25, 2024, some of the Company's funds would open conversion business in the Postal Savings Bank and participate in the preferential activities of its conversion premium rate. Relevant matters are hereby announced as follows:
1、 Applicable funds and business scope
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From April 25, 2024, the fund share holders can handle the conversion business of the above funds through the Postal Savings Bank, and the specific processing time is the same as the processing time of the fund subscription and redemption business (except when the Company announced the suspension of fund conversion).
The investor handles the above fund conversion business through the Postal Savings Bank, and the purchase margin compensation rate in the conversion business is preferential. The specific discount rate of the fund is subject to the activity announcement of the Postal Savings Bank. For the original subscription rate of the above funds, please refer to the relevant legal documents of each fund and the latest relevant announcements issued by the Company.
2、 Business Rules
1. Fund conversion business refers to the act of fund share holders applying to convert all or part of their fund shares of a fund managed by the Company into fund shares of other funds managed by the Company.
2. Fund conversion can only be handled in the same sales agency, and the two converted funds must be managed by the same fund manager sold by the sales agency and registered in the same registration agency. Various shares of the same fund product cannot be converted to each other. If you want to deal with the fund conversion business in other sales institutions, you must first carry out the fund share re custody.
3. The registration authority shall take the day when it receives the effective conversion application as the conversion application day (T day), and confirm the validity of the investor's fund conversion business application on T day on T+1 day. If the investor successfully converts the fund, the registration authority will handle the registration formalities for the equity conversion for the investor on T+1, and the investor is usually entitled to convert or redeem this part of the fund units after T+2 (inclusive). The holding time of the converted fund units shall be recalculated from the date of confirmation of the conversion.
4. The application for fund conversion shall be made in units, and the investor may revoke the application for fund conversion within the trading time specified on the date of the application for conversion. When an investor handles the fund conversion business, the fund of the transferor and the fund of the transferee must be in a state of subscription and redemption.
5. The fund conversion adopts the "unknown price method", that is, the conversion price of the fund is calculated on the basis of the net value of each fund unit transferred out and transferred into the fund on the day of application acceptance.
6. Fund conversion is applied for by units and follows the business rule of "first in, first out", that is, transfer out first if the unit registration date is earlier, and transfer out later if the unit registration date is later. The fund units transferred out of the fund conversion application must be available units.
7. In case of huge redemption, the Fund Manager may decide to transfer out in full or in part according to the fund asset portfolio.
3、 Calculation method of fund conversion
1. Fund conversion fee
(1) The fund conversion fee consists of the redemption fee of the transferred out fund and the fund purchase compensation fee;
(2) When transferring out of a fund, if the transfer out fund involved has a redemption fee, the redemption fee of the fund shall be charged. The proportion of the redemption fee charged into the fund property shall not be lower than the lower limit of the proportion prescribed by laws and regulations, the CSRC and the relevant provisions of the Fund Contract and Prospectus (Update) of the fund;
(3) When transferring to the fund, when transferring from the fund with low subscription fees to the fund with high subscription fees, the subscription compensation fees shall be charged each time; When converting from a fund with a high subscription fee to a fund with a low subscription fee, no subscription compensation fee will be charged. The difference between the purchase fees of the transfer out fund and the transfer in fund corresponding to the transfer in amount shall be made up for the difference of the purchase fees of the transfer in fund, and the specific charging situation shall be determined according to the difference of the purchase rates of the two funds at each conversion.
2. Calculation formula of fund conversion
The fund conversion adopts the unknown price method, which is calculated based on the net value of fund units on the day of application. The calculation formula is as follows:
Transfer out amount=transfer out units × net value of fund units on the day of transfer out fund
Redemption fee of transfer out fund=transfer out amount × redemption rate of transfer out fund
Transfer in amount=transfer out amount - redemption expense of transfer out fund
The calculation of the purchase compensation fee can be divided into the following four situations:
(1) When transferring from front-end fee (proportional rate) fund to other front-end fee (proportional rate) fund:
Purchase compensation expense=amount transferred in × purchase rate of transfer in fund/(1+purchase rate of transfer in fund) - amount transferred in × purchase rate of transfer out fund/(1+purchase rate of transfer out fund)
(2) When transferring from front-end fee (fixed fee) fund to other front-end fee (proportional rate) fund:
Purchase compensation expense=transfer in amount × transfer in fund purchase rate/(1+transfer in fund purchase rate) - fixed expense
(3) When transferring from front-end fee (proportional rate) fund to other front-end fee (fixed fee) fund:
Purchase compensation expense=fixed expense - transfer in amount × transfer out fund purchase rate/(1+transfer out fund purchase rate)
(4) When transferring from front-end fee (fixed fee) fund to other front-end fee (fixed fee) fund:
Expense for subscription compensation=fixed expense transferred into the fund - fixed expense transferred out of the fund
Net transfer in amount=transfer in amount - purchase compensation expense
Transfer in unit=net transfer in amount/net value of fund unit on the day of transfer in
4、 Suspension of fund conversion and handling
The fund manager may suspend the fund conversion business under any of the following circumstances:
1. The fund cannot operate normally due to force majeure.
2. The securities exchange is abnormally closed during trading hours, which causes the fund manager to be unable to calculate the net value of fund units on that day.
3. The Fund Manager deems it necessary to suspend the acceptance of the transfer out application of the Fund units in case of continuous huge redemption due to severe market fluctuations or other reasons.
4. Other circumstances specified in laws, regulations or the Fund Contract and the Fund Prospectus.
When the Fund suspends the conversion or reopens the conversion after the suspension, the Fund Manager shall make an announcement on the information disclosure media specified by the CSRC.
5、 Important tips
1. The rate discount of preferential activities shall be determined and implemented by the Postal Savings Bank, and the Company shall handle it according to the rate discount provided by the Postal Savings Bank. The Postal Savings Bank reserves the right to interpret the preferential activities, and has the right to change the contents of the above preferential activities. The Company will not make any further announcement. Please consult the Postal Savings Bank for details of promotional activities.
2. If investors want to know the details of the Fund, please carefully read the Fund Contract, Prospectus and other legal documents and relevant business announcements published on the Company's funds.
6、 Relevant information can be learned or consulted through the following ways
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7、 Risk warning
The Company promises to manage and use the fund assets in the principle of honesty, credit and diligence, but does not guarantee that the fund will be profitable, nor does it guarantee the minimum return. The fund investment should be cautious, please pay attention to the investment risk. If investors want to know the details of the fund, please carefully read the fund contract, updated prospectus, updated summary of fund product information and relevant business announcements of the fund before investing in the fund. Investors are kindly requested to pay attention to the relevant provisions of appropriateness management, conduct risk assessment in advance, and purchase products with risk level matching according to their risk tolerance.
It is hereby announced.
China Post Venture Capital Management Co., Ltd
April 25, 2024
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