If you are not familiar with fund splitting, you must look at the in-depth analysis: ZZ

If you are not familiar with fund sharding, you must take a look at the in-depth analysis of fund sharding. If you have money, you cannot afford it. In the past few months, fund sharding and large-proportion dividend have become quite popular! As a veteran who holds such funds, there is a deep pain of being fooled but nowhere to tell; and for those who don't know, come from here to buy cheap funds, I really don't know whether to be "lucky" or sad for them! A fool has thousands of tricks, but the goal is the same: damage others, feed themselves. The same is true for fund splitting or a large proportion of dividends: fund companies have expanded their scale and acquired more management fees (maybe they still secretly laugh at these stupid investors and cannot even identify such simple tricks ?); The cost is to reduce the income of investors and prevent them from sharing the gains brought by economic growth. In the face of such pitfalls, the China Securities Regulatory Commission  and other relevant management institutions that we say "protect the interests of investors" are not blind, so we can hear it or even give a big green light. There is no complaints from the Basic People! There was a joke that the monkey play said to his monkey: I want to control your food intake, give you three chestnuts in the morning, five chestnuts in the evening. The monkeys are not happy: too little. Please add it. So the monkey play said that the first five, three at night? As soon as the monkeys heard it, they seemed to be more fortunate. In a similar way, there are two cakes sold in the street, one is called fresh big cakes, and the other is two yuan. The other one splits the same cake into two halves, A fresh pie, a dollar. People think that it is really cheap compared to this one dollar, so they all come to buy one, and no one cares about it. In essence, fund splitting is no different from the one-half splitting. Fund companies are scrambling to use the net worth of the fund (especially the new Fund) to play digital games, increase the total share of the Fund, and reduce the net share to one dollar, attracting a large number of purchases to expand the scale, earn excess subscription fees and management fees, and the foundation is the ridiculous buyer. In fact, for fund investors, the net or share of a single-view Fund has no practical significance. In theory, we can split the net value of the fund into one cent, you can also merge it into 1000 RMB/copy, as if the pie mentioned above, no matter how the Fund is split, your asset scale will not change because of the split. For example, the current net worth of a fund is 2.50 yuan. If you want to purchase a fund of 1000 yuan, you can buy 400 yuan for the subscription fee, the total market value of your fund is 2.50 × 400 = 1000 RMB. If the fund is split to 1.00 RMB, you can purchase 1000 copies of the subscription fee, the total market value of your fund is still 1.00 × 1000 = RMB 1000. There is no difference between the two. However, you still think that each fund of 1.00 yuan is "cheaper" than 2.50 yuan. You will think that this fund has increased from 1 yuan to 2.5 yuan, its "Rising" space is not as large as RMB 1, and the risk of "Falling" is higher than RMB 1. In fact, this is a misunderstanding. To find out this problem, we must first "get to know" the fund. To put it bluntly, all of us (the Basic People) will gather the money together, ask a trader (Fund Company) whose level may be higher than ours to take our fund-raising and make money in the stock market (or other legal investment places). If we make money, we will continue to earn profit, if the loss happens, we will compensate. Of course, the operator's Commission (recognition, subscription fee, and management fee of about 2% a year) is a lot of compensation. In this way, you should understand that a fund is an investment, not a commodity. The net asset value reflects the size of each asset in the fund assets, it will not rise or fall as a commodity or stock is affected by the supply and demand relationship, but will only change with the profit and loss of the Fund's assets. When selecting a fund, we should look at its profitability (yield), rather than the size (net worth) of its current assets ). Assume that a and B Both invest 1 yuan to open a shop at the same time. Two years later, the size of a store was 2.5 yuan (we should understand that the value of a store is increased to 2.5 yuan, instead of increasing to 2.5 RMB), store B only has 1.5 RMB. Should you invest in store a or store B? The general experience is, of course, to invest in a store. Because of its strong profitability, some people say that investment funds are "the right option to buy expensive items" (of course, this is absolutely true ), instead of selecting "cheap goods" with low net worth ". Return to the topic of fund splitting. If the Fund split is only marketing measures to cater to investors' fear of net worth, and does not cause substantial damage to investors, I will not say it is "despicable ". However, the fact is that fund companies are expanding in this way at the expense of investors. You can take a look at the rich country Tianyi, Bank of Communications featured items, yifangda active, and the wide development stability with a large proportion of dividends, yifangda stable, and so on. They were all star-rated funds, if the morning star rating is 5 stars and 4 stars, what will happen after splitting or paying a large proportion of dividends? A long period of slow growth in net worth, far behind the performance of other similar funds in the same period, the morning star rating fell to 3 stars to 2 stars. Why is there such a big gap between companies, people, and people? In fact, the reason is very simple, that is, the large amount of purchase after the split (or a large proportion of dividends) diluted the fund income. For example, if a star fund has a total assets of 0.9 billion yuan, the net worth of each fund is 2.25 yuan, and the total share is 0.4 billion, it is assumed that all assets of the Fund are stock assets. You currently have 1000 shares of the Fund, and the market value is 2250 yuan. A month later, the Fund's stock assets increased by 10%. The total size of the Fund's assets after one month is: 0.9 billion + 0.9 billion × 10% = 0.99 billion RMB, the net worth of each copy is 0.99 billion yuan/0.4 billion copies = 2.475 yuan/copy, your fund's market value becomes 1000 × 2.475 = 2475 yuan, and the net income of a month is 2475-2250 = 200 yuan. Now the fund is split, and you will have 2250 shares in the final sum. After the Fund's net worth is returned, a large amount of purchases will be triggered. If the Fund's net worth reaches 9 billion in the short term, the current total assets of the Fund will be 9 billion yuan, with a total share of 9 billion, because the new subscription has not yet bought shares, its stock-type assets are still 0.9 billion, and other 8.1 billion assets are in cash. We also assume that the Fund's stock assets will increase by 10% a month later. The problem arises. How much can the 8.1 billion cash assets increase in value this month? Obviously, it is impossible for a fund company to quickly build a warehouse and keep it up with the stock market. We are optimistic that 50% of these new purchases can keep up with the pace of the stock market (in fact, this is basically impossible ), the total size of the Fund's assets after one month is: 9 billion + (0.9 billion + 8.1 billion × 50%) × 10% = 9.495 billion RMB, and the net worth of each fund is: 9.495 billion/9 billion = 1.055 RMB/copy, your Fund's market value has changed to 1.055 × 2250 = 2373.75 RMB, and the net income per month is 2373.75-2250 = 123.75 RMB. Two-phase comparison: the rate of return after splitting is reduced to 6 instead of splitting! A large proportion of fund dividends are similar to sharding. In fact, fund splitting or a large proportion of dividends is only a small trick. It can only lie to investors who do not know much about the fund. The mean of fund companies is that they should have used Investment Education for investors who do not know much about the fund, but have used the investors' incomplete perception of the Fund to fool the Fund, in this way, we can expand our capacity and earn commissions, so as to focus on our own job of creating benefits for investors. Sadly, even if we find this trick, We have no complaints. No one can help us block the harm and self-interest actions of fund companies, regulatory authorities responsible for protecting the interests of investors are even constantly approving new splitting schemes! We took the hard-earned money, and gave it to our "trustworthy" professional investment team with infinite good expectations, that's how we serve us! Here, I would like to remind those who are eager to purchase a 1 yuan "cheap" fund, please first go to the Fund to learn more and then make a decision, blind investment, great risk! We also told the "smart" companies that fooled the basic people to take a long view and do not lose the long-term trust of the Basic People for immediate profit. Focus on Asset Management, strictly control risks, bring tangible benefits to investors, and win in the long run. This is the bright path for fund companies to become bigger and stronger!