thebestgametoearncrypto| Effectively maintain market order, regulatory authorities crack down on mini funds to "beat the drum and spread the flowers"

◎ reporter Zhao Mingchao

Since the beginning of this year, there has been a resurgence of mini-fund speculation in the field, and institutions have sent frequent risk reminders. In the eyes of people in the industry, under the strong regulatory policy, this kind of "drumming and spreading flowers"ThebestgametoearncryptoI can't play the game.ThebestgametoearncryptoYes.

Recently, the China Securities Regulatory Commission disclosed a number of administrative penalty decisions, including cases in which they were punished by manipulating fund products for profit. According to reports, from January 1, 2021 to December 31, 2022, Zhang controlled the use of accounts such as "Guo" (hereinafter referred to as "account group") to manipulate 31 LOF fund products (11 in Shanghai and 20 in Shenzhen).

From the perspective of operation, Zhang mainly makes use of the advantage of funds to buy and sell continuously, which has a great impact on the price of the fund in the secondary market. The scale of LOF funds it manipulates is often small. At present, many funds have been delisted because of their small scale.

For example, the account group made use of the capital advantage to buy LOF C from March 26 to March 31, 2021. From the fluctuation of the price on the fund floor, from March 26 to March 29, the secondary market price of Tian Tian Fu Ruifeng (LOF) C fund rose 13%.Thebestgametoearncrypto.72%, and the net value of the fund increased by 1% over the same period.Thebestgametoearncrypto.54%, with a deviation of 12.18%.

The justice net is restored, but it is not missed. According to Article 192 of the Securities Law, the China Securities Regulatory Commission decided to confiscate Zhang's illegal income of 1.5359 million yuan and impose a fine of 3.0718 million yuan.

Since the beginning of this year, the secondary market prices of a number of on-site funds have fluctuated violently, and there are obvious signs of capital speculation. Take Yi Fangda gold-themed LOF as an example, which rose nearly 50 per cent in just a dozen trading days from March 29th to April 22nd. In the face of capital speculation, Yi Fangda Fund issued more than a dozen premium risk reminders, and took a temporary suspension operation.

The game of "drumming and spreading flowers" is difficult to sustain after all. After experiencing a sharp rise, Yifangda gold-themed LOF fell by the limit for two consecutive trading days.

In addition to mini LOF funds, speculation funds will also focus on mini ETF products. Take Huaxia gold stock ETF as an example. In just five trading days from March 28th to April 3rd, Chinese gold stock ETF rose as high as 47.32 per cent, with a premium of more than 30 per cent. In this regard, the Shenzhen Stock Exchange issued a reminder to focus on monitoring the fund and strictly supervise investors who frequently participate in a large number of transactions in the fund and have abnormal trading behavior.

At present, there are more than 11000 public offering fund products, and many on-site funds are reduced to mini-funds, which are easy to encounter fund manipulation. Taking ETF as an example, Choice estimated that as of May 15, 152 ETF sizes were less than 50 million yuan, of which about 30 ETF sizes were less than 20 million yuan.

Industry insiders remind that some too small funds, hundreds of thousands of yuan of funds can significantly increase the market price, speculators in the secondary market speculation, when investors are attracted in, is likely to take over.

In the eyes of people in the industry, when fund companies' funds encounter hype, in addition to issuing relevant announcements to prompt premium risks, they should prompt risks on the official website, official Wechat account, Internet platform, etc., and explain the relevant market mechanism. Let more investors see it and avoid blindly entering the bureau and suffering losses.

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