冠军LOF基金周五再次全天停牌：6月来39次停牌，场内溢价仍超31%

澎湃新闻07-10 08:33

近一年业绩冠军LOF基金，6月来已5次全天停牌。　　7月9日晚间，上交所官网披露的财通基金临时公告显示，截至当日收盘，财通基金旗下财通多策略福鑫定期开放灵活配置混合型发起式证券投资基金（场内简称：财通福鑫定开混合，交易代码：501046）二级市场交易价格严重高于基金份额净值，出现极大幅度溢价。　　基于此，财通基金在公告中明确提示投资者关注二级市场交易价格溢价风险，并指出“投资者如果盲目投资，...

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Opportunities A2 SGD","BK0148":"宽带提速","LU0348735423.USD":"ALLIANZ HONG KONG EQUITY \"A\" (USD) INC"},"translate_title":"Champion LOF Fund was suspended all day again on Friday: 39 suspensions since June, and the premium on the floor is still over 31%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"300308":1,"300502":1,"301200":1,"301377":1,"600105":1,"600183":1,"600498":1,"688183":1,"688498":1,"002463":1},"content_text":"近一年业绩冠军LOF基金，6月来已5次全天停牌。\n　　7月9日晚间，上交所官网披露的财通基金临时公告显示，截至当日收盘，财通基金旗下财通多策略福鑫定期开放灵活配置混合型发起式证券投资基金（场内简称：财通福鑫定开混合，交易代码：501046）二级市场交易价格严重高于基金份额净值，出现极大幅度溢价。\n　　基于此，财通基金在公告中明确提示投资者关注二级市场交易价格溢价风险，并指出“投资者如果盲目投资，可能遭受重大损失”。公司同时表示，若后续溢价幅度未有效回落，将有权采取盘中临时停牌、延长停牌时间等措施以警示风险。\n　　与此同时，财通基金还在公告中向投资者强调，该基金目前处于封闭期，暂不办理申购、赎回业务，但该基金场外持有人可以通过销售机构办理该基金的跨系统转托管（场外转场内）业务，将基金份额转至场内，在场内卖出该基金。\n　　Wind数据显示，在7月9日上午停牌一小时后，财通福鑫定开混合开盘一度下跌逾2%，但随后跌幅逐步收窄；临近收盘，大量买盘将价格推至涨停，报14.121元。而当日基金份额净值仅为10.7193元，溢价幅度达31.73%。\n\n　　财通福鑫定开混合是财通多策略福鑫的场内简称。换言之，该基金既是一只可场内交易的上市开放式LOF基金，流通份额仅有1987万份；也是定期开放的灵活配置型基金产品，且目前处于封闭运作期，场外申赎完全暂停。\n　　有市场人士分析，该基金场外无法申购，但场外持有人仍可将存量份额通过“跨系统转托管”，从注册登记系统转入证券登记结算系统，再以高溢价在场内卖出。\n　　数据显示，在5月25日前，该基金流通份额几乎少有变化，连续多月稳定在1670万份之下；而自5月26日至7月8日期间，该基金场内流通份额从1669.65万份增至1986.78万份，累计增加317.13万份。这意味着，已有部分存量持有人借助高溢价，顺利完成了“高位减持”兑现收益，而承接这些筹码的，可能恰恰是跟风涌入的追高者。\n\n　　事实上，溢价风险提示已成为近期常态。6月以来，该基金已累计发布49条二级市场交易价格溢价风险提示、39次停牌公告，其中包括3次盘中临时停牌公告以及5次全天停牌。\n　　但频繁预警并未浇灭市场热情，二级市场价格持续剧烈波动，溢价率一度最高触及51.35%。据Wind数据，该基金近一年价格低点仅2.02元，最高曾达18.60元，高低价差超过8倍，区间累计涨幅高达820.79%。\n　　有业内人士认为，支撑场内份额价格强势上行的，是场外基金突出的业绩表现。截至7月9日，财通多策略福鑫年内收益率达133.01%，在同类2333只基金中位居第六；近一年收益率更是达到388.84%，在同类产品中斩获冠军。业绩光环无疑吸引了大量市场关注。\n　　“会有部分投资者误将场内份额当作‘唯一能买到的定开产品’。他们看到高业绩，场外暂停申购，便涌入二级市场追买，忽视价格严重脱离净值，付出的高溢价并非资产价值，而是纯粹的情绪溢价。”业内人士指出。\n　　事实上，场内与场外基金的本质区别在于交易对手方。场外基金的申赎是以净值为基础，交易对手始终是基金公司，买入是向公司申购，卖出是赎回给公司，价格围绕净值波动。而场内基金在二级市场交易，是投资者之间的份额转让，如同股票买卖，投资者买入的是其他投资者卖出的份额，价格由买卖双方的博弈决定，完全可以大幅偏离净值。\n　　“一旦溢价回落，即便底层资产价格未变，持有人也将直接承受溢价收敛带来的账面亏损。”公募内部人士强调，随着未来封闭期结束、场外申购恢复，供给敞口一旦打开，套利资金将迅速涌入平抑溢价，届时高溢价坍塌几乎是必然事件。\n　　截至今年一季度末，财通多策略福鑫的管理规模为3.35亿元，前十大重仓股依次为大族数控（301200.SZ）、中际旭创（300308.SZ）、生益电子（688183.SH）、新易盛（300502.SZ）、鼎泰高科（301377.SZ）、源杰科技（688498.SH）、沪电股份（002463.SZ）、永鼎股份（600105.SH）、生益科技（600183.SH）、烽火通信（600498.SH）。\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：石秀珍 SF183","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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