“避免引发市场恐慌”，国投瑞银回应白银LOF估值调整

Core Viewpoint - The company, Guotou Ruijin Fund, has adjusted the valuation of its silver LOF due to significant discrepancies between domestic and international silver prices, aiming to reflect the true value of underlying assets and avoid misleading investors [1][2]. Group 1: Valuation Adjustment Reasons - The adjustment was necessary because the international silver market experienced a historic drop, leading to a situation where domestic futures prices did not accurately reflect the underlying asset values [1][2]. - The company emphasized that using the Shanghai Futures Exchange's settlement price would create a "virtual high" value, obscuring actual risks and potentially leading to significant losses for investors when prices normalize [2][3]. Group 2: Communication and Market Conditions - The company did not announce the valuation adjustment in advance due to concerns that it might be interpreted as an attempt to prevent redemptions, which could trigger market panic and a run on the fund [1][3]. - The company explained that the correlation between the Shanghai Futures Exchange silver futures and international market prices is high, and adjustments were made based on this relationship to ensure fair asset valuation [2][3].