独家｜国投瑞银回应白银LOF估值调整：未提前公告，意在避免恐慌与挤兑

Core Viewpoint - The adjustment of the valuation method for the Guotou Ruijin Silver LOF fund has led to a significant drop in its net asset value, raising concerns among investors regarding the timing and transparency of the announcement [1][3][4]. Group 1: Valuation Adjustment - On February 2, Guotou Ruijin Fund announced a change in the valuation method for its silver futures contracts due to significant price fluctuations in the international silver market [2][3]. - The fund's net asset value dropped from 3.2838 yuan to 2.2494 yuan, a decline of 31.5%, marking an extreme record for a single day [1][2]. - The new valuation method references the price changes in the international silver futures market, which allows for a more accurate reflection of the underlying asset's fair value [2][3]. Group 2: Investor Reaction - The timing of the announcement, made after the trading day ended, has sparked outrage among investors who felt blindsided by the sudden change in valuation rules [4][5]. - Investors expressed concerns about fairness and transparency, arguing that the lack of prior notice violated principles of timely information disclosure [4][5]. - Complaints and calls for action from investors flooded online platforms, highlighting dissatisfaction with the handling of the valuation adjustment [4][5]. Group 3: Company Explanation - Guotou Ruijin Fund stated that the decision not to announce the adjustment in advance was to prevent panic and potential runs on the fund [1][5]. - The company emphasized that the adjustment was necessary due to the extreme market conditions and the limitations imposed by domestic trading rules, which could lead to a misrepresentation of the fund's actual value [3][6]. - The fund clarified that the actual value of the assets is uncertain until the market closes, which justifies the timing of the announcement [6].