China Merchants CSI Liquor Fund announced the purchase restriction announcement. According to the contents of the Notice, the Fund will start the conversion from large subscription to business on165438+10.2, in which the subscription limit for Class A funds is 100000 yuan, and the subscription limit for Class C funds is 5000 yuan. To put it simply, fund purchase restriction means that funds are no longer sold in large quantities, and investors cannot buy a large number of fund shares at one time.

What does it mean to restrict the purchase of liquor funds?

The fund purchase restriction mentioned by China Merchants Fund Company is to ensure the smooth operation of the fund and safeguard the interests of fund holders. According to the data of China Merchants Fund in the third quarter, the scale of China Merchants CSI Liquor Index Fund has reached 92.89 billion yuan at the end of September, and it has become the largest cemetery product in the fund market, so it is called "National First Fund".

For fund managers, the fund scale has increased substantially in the short term, which is not conducive to the implementation and improvement of the fund investment strategy, so the fund scale has to be controlled and adjusted. When the scale of a fund exceeds10 billion, it is easy to encounter the situation that "the ship is too big to turn around". If the fund scale is too large, it is not conducive to the management of the fund manager, and it is not easy to adjust the investment direction when encountering a good market. Therefore, it is best for fund managers to reduce their positions and operate funds by restricting the purchase of funds.

Source: Tian Tian Fund Network

In the view of brokers, according to the data performance of the liquor industry in the third quarter, the liquor industry has always been a well-developed market with good future prospects. For high-end liquor enterprises, such as Maotai, Wuliangye and LU ZHOU LAO JIAO CO.,LTD. At present, the inventory is at a low level, and benign channel construction can also better maintain the stability of intraday prices, which is conducive to the long-term sustainable growth of the industry. Liquor stocks have already had the opportunity of long-term allocation.

Fund purchase restriction is very common for large-scale funds, which belongs to a normal means of regulation in the fund market. On the one hand, fund purchase restriction is regarded as a way for investors to have a better long-term investment concept and avoid daily trading, so as to gain a better investment experience.