亏30%能扛，赚1%却慌：基民赎回心态为何总“反着来”？

Core Insights - The article highlights the psychological struggle of investors as the market rebounds, with many feeling anxious about whether to redeem their funds or hold on for potential further gains [2][3][8] - The current market environment has led to a significant number of active equity funds reaching new net asset value highs, creating a complex situation for both individual and institutional investors [4][6][11] Investor Behavior - Investors who were previously "lying flat" during prolonged losses are now frequently checking their fund values, reflecting a shift in behavior as they grapple with the fear of missing out on gains versus the anxiety of losing their recently gained profits [4][5][8] - The phenomenon of "loss aversion" is prevalent, where investors are more sensitive to potential losses than to equivalent gains, leading to impulsive redemption decisions when funds return to break-even [9][12] Market Dynamics - As of August 19, nearly 1,300 funds have returned to a net value above 1 yuan, with a significant portion of active equity funds showing positive returns since last year [7][11] - The market has seen a structural shift where redemption pressures are increasing, yet new inflows are also occurring, indicating a mixed sentiment among investors [10][12] Institutional Response - Fund companies are recognizing the need to adapt to changing investor sentiments, focusing on providing tailored product solutions that align with current market conditions and investor needs [12][13] - There is a shift from merely trying to prevent redemptions to understanding and addressing the underlying motivations of investors, emphasizing the importance of communication and customized offerings [12][13]