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As soon as the words were spoken, the debt bull "slammed on the brakes" and large-scale redemptions were seen again!

On August 13, GF Fund announced that the Class D fund units of GF Jingyuan Pure Bond Securities Investment Fund (hereinafter referred to as GF Jingyuan Pure Bond D)A large redemption occurred on August 12, 2024.In order to ensure that the interests of fund unit holders are not adversely affected by the decimal point accuracy of the net asset value of the units, starting from August 12, 2024, the accuracy of the net asset value of the fund units will be increased to 8 decimal places, and the 9th decimal place will be rounded up.

For individual funds, large redemptions often occur in bond funds where a single institutional holder accounts for a high proportion.Small scale but high share of single institutional holdersTherefore, when the institutional investor chooses to redeem the fund shares for some reason, although the redemption amount may not be high, it will cause a huge redemption for the fund, which is likely to cause abnormal fluctuations in the net value of the fund.

iFinD data shows that the net value of GF Jingyuan Pure Bond D unit shares was reported at 1.0868 on August 12, a single-day drop of -0.13%.

According to the fund's 2023 annual report, there are only two holders of GF Jingyuan Pure Bond D shares, holding 185.94 shares, both of whom are individual investors.