长假前夕，基金公司为何纷纷限购低风险产品？

Core Viewpoint - Several fund companies are implementing purchase limits or suspending subscriptions for low-risk products such as money market funds and short-term bond funds ahead of the National Day and Mid-Autumn Festival holidays, with plans to resume subscriptions after the holidays. This practice aims to manage the significant inflow and outflow of funds around the holiday period, which can lead to volatility in fund sizes and affect investor returns and product stability [1][3]. Group 1: Fund Company Actions - Huian Fund announced a limit on single account daily subscriptions exceeding 100,000 yuan for its short-term bond fund starting September 24, resuming on October 9 [3]. - Xiangcai Fund's Xiangcai Jiuying short-term bond fund will limit single account daily subscriptions to 10,000 yuan starting September 26, with a resumption date of October 13 [3]. - Changjiang Asset Management's Changjiang Lexiang money market fund will not accept subscriptions exceeding 1 million yuan per day starting September 25, resuming on October 9 [3]. - HSBC Jintrust Fund announced a suspension of subscriptions for its HSBC Jintrust CSI Interbank Certificate of Deposit AAA Index fund starting September 29, with a resumption on October 9 [3]. Group 2: Market Context and Investor Behavior - The equity market has shown signs of recovery this year, with some funds flowing back into equity funds, indicating a restoration of risk appetite [3]. - Despite the recovery, there remains a short-term demand for risk aversion and fund management, particularly during the holiday period, leading investors to prefer low-risk products for stable returns [3]. - Fund companies' purchase limit policies, while varying in specifics, share a common goal of managing fund sizes before the holiday and resuming normal operations afterward to stabilize the funding environment [3].