别忙着“抄底”！多只QDII-ETF临时停牌，溢价率仍在高位

Core Viewpoint - The QDII funds are experiencing a surge in demand despite multiple warnings about high premium risks, with many funds suspending subscriptions to protect existing investors [1][3]. Group 1: QDII Fund Premium Risks - On November 27, 15 public funds issued 38 warnings regarding high premium risks for QDII funds, affecting over 20 products, primarily linked to indices like the Nasdaq 100 and S&P 500 [1]. - The Huaxia Nikkei 225 ETF issued 32 premium risk warnings in November, while the Invesco Nasdaq Technology ETF issued over 20 warnings [1]. - As of November 27, 50 out of 85 QDII-ETF funds remained in a premium state, with the highest premium rate at 17.52% for the Invesco Nasdaq Technology ETF [1][2]. Group 2: Subscription Suspensions and Fund Management - A total of 165 QDII funds have suspended subscriptions or large subscriptions as of November 27, with some funds implementing strict purchase limits due to limited QDII quotas [3]. - The Huazhong Mitsubishi Nikkei 225 ETF has progressively reduced its daily purchase limit from 100 yuan to 10 yuan [3]. - The limited QDII quotas have led to strict allocation based on fund performance, with high premium products facing tighter purchase restrictions to prevent losses for new investors [3]. Group 3: Market Dynamics and Investor Behavior - The high premium rates are attributed to the disappearance of the arbitrage mechanism for QDII-ETFs, as the redemption process involves additional costs and uncertainties [4]. - Investors are advised to remain calm and avoid panic buying due to product subscription limits, focusing instead on products with open subscription channels and lower premium rates [5]. - The recent volatility in the U.S. stock market, influenced by Federal Reserve signals and concerns over AI bubbles, may continue to affect market dynamics in December [5].