21调查｜仍有平台、博主“顶风”，“基金实时估值”悄转私域

Core Viewpoint - The recent incident involving Debon Fund, which attracted 12 billion yuan in a single day, has highlighted the chaotic internet marketing practices of fund companies, prompting regulatory scrutiny and calls for self-correction among fund sales institutions and third-party platforms [2][23]. Group 1: Regulatory Actions - Regulatory authorities have emphasized the need for fund sales institutions and third-party platforms to conduct self-examinations and remove misleading features such as "real-time valuation" and "ranking lists" that could mislead investors [2][17]. - Major platforms like Ant Fund, JD Finance, and others have quickly removed related functionalities following regulatory guidance [2]. - The regulatory push against misleading valuation practices is not new, as similar actions were taken in June 2023, citing risks of investor complaints due to significant discrepancies between real-time estimates and actual net asset values [17][21]. Group 2: Market Reactions - Following the regulatory actions, some platforms have attempted to retain user engagement by offering membership incentives and creating new fan groups, leading to a rapid increase in group memberships [15][16]. - Despite the removal of certain features, some platforms have continued to provide similar functionalities under different names, indicating a reluctance to fully comply with regulatory demands [13][14]. Group 3: Social Media Influence - Social media influencers have been observed promoting alternative tools for fund valuation, often leading investors to private groups for further information, which raises concerns about compliance and the potential for misleading practices [3][6][8]. - The rapid spread of posts related to fund valuation tools on platforms like Xiaohongshu has created a significant flow of traffic, with some influencers monetizing these tools by selling them at various price points [8][12]. Group 4: Impact on Investor Behavior - The incident with Debon Fund, where the real-time valuation showed a 13.01% increase while the actual net value was only 8.31%, exemplifies how misleading valuation data can distort investor behavior and lead to short-term trading rather than long-term asset allocation [23][24]. - The discrepancy between real-time estimates and actual net values can exacerbate during market volatility, leading to further investor confusion and potential losses [18][19].