亏钱一起扛，赔钱分三六九等：国投瑞银伤了大户的心

Core Viewpoint - The announcement by Guotou Ruijin Fund Management Co., Ltd. regarding a compensation plan for investors affected by the valuation adjustment of its silver LOF fund has sparked ongoing discussions about fairness and treatment of different investor classes, particularly between individual and institutional investors [1][2][5]. Group 1: Compensation Plan Details - The compensation plan includes full reimbursement for individual investors whose valuation adjustment impact is below 1,000 yuan, while those exceeding this amount will receive compensation based on a tiered percentage system [1][9]. - The compensation is limited to individual investors, excluding institutional investors, and the online processing system for claims will be available starting February 26 [2][5]. - The compensation model is designed to cover 92.4% of the investors who redeemed their shares, primarily benefiting small retail investors [9][12]. Group 2: Market Reaction and Controversy - The market turmoil began on January 30, when international silver prices plummeted, leading to a significant drop in the domestic silver LOF fund's net asset value due to a change in valuation methodology [3][4]. - The abrupt change in valuation method, which shifted from domestic to international pricing, resulted in a record single-day drop of 31.5% for the fund, causing widespread distress among investors [4][5]. - The compensation plan has faced criticism for its perceived inequity, particularly regarding the treatment of larger investors who face disproportionately higher losses compared to smaller investors who receive full compensation [12][15]. Group 3: Implications for the Industry - This incident marks a precedent in the public fund industry for proactive compensation in response to valuation disputes, raising questions about future expectations from investors during extreme market conditions [15]. - The disparity in compensation between small and large investors highlights a potential risk for fund companies, as larger investors express dissatisfaction and concern over their treatment [12][15]. - The situation reflects broader challenges within the public fund industry regarding investor relations and the management of expectations in volatile market environments [15].