1.对估值调整影响金额（由-17%调至-31.5%的部分）为1000元以下的自然人投资者，按实际影响金额全 额确定和解金额（该部分投资者占当日赎回投资者的比例超9成）。 2.对估值调整影响金额（由-17%调至-31.5%的部分）超过1000元（含）的自然人投资者，在1000元基础 上加上超1000元部分乘以一定比例确定总和解金额。 3.上述自然人投资者可通过支付宝搜索"国投瑞银白银基金"小程序，按提示完成身份核验后，依指引在 线办理相关事宜。因涉及投资者人数众多，工作量大，为确保投资者诉求得到便捷、可靠的解决，公司 正在全力以赴推进技术支持准备工作，相关小程序将于2026年2月26日正式启用。 责编:王时丹 | 审核:李震 | 监审:古筝 国投瑞银基金表示，深知每一份投资背后，都是大家的信任与托付。面对大家的关切，国投瑞银基金始 终以最迫切的心情积极回应、努力解决大家的诉求，已第一时间统筹部署、夜以继日推进各项工作，制 定了专项工作方案。 国投瑞银基金称遵循分层分类、便捷可靠的原则制定本方案，以最大限度保护投资者特别是中小投资者 的合法权益。方案适用范围为国投瑞银白银期货证券投资基金（LOF）以2026年2月 ...

2.对估值调整影响金额（由-17%调至-31.5%的部分）超过1000元（含）的自然人投资者，在1000元基础上加上超1000 元部分乘以一定比例确定总和解金额。 3.上述自然人投资者可通过支付宝搜索"国投瑞银白银基金"小程序，按提示完成身份核验后，依指引在线办理相关事 宜。 出品丨21财经客户端 21世纪经济报道 编辑丨 朱芷葵 金珊 国务院批复：同意雄安高新区升级 AI服务器4倍大牛股被罚1000万，将终止上市 平安人寿再举牌，疯狂扫货港股金融圈 SFC 21君荐读 2 SFC 悦 读 · 智 能 权 威 . n o ( 扫码点击下载 2月15日晚间，国投瑞银发布《关于白银基金相关方案的公告》，公布了此前国投白银LOF估值调整事件受影响投资者 的补偿方案，其中对受影响金额1000元以下者进行全额补偿。 具体方案如下： 1.对估值调整影响金额（由-17%调至-31.5%的部分） 为1000元以下的自然人投资者，按实际影响金额全额确定和解金 额（该部分投资者占当日赎回投资者的比例超9成）。 ...

Core Viewpoint - The company has announced a plan to address valuation disputes related to the Guotou Ruijin Silver Fund (LOF) following extreme fluctuations in the silver market, aiming to protect the rights of individual investors, particularly small and medium-sized ones [1][5]. Summary by Sections Announcement of Valuation Adjustment - The company has adjusted the valuation of the Guotou Ruijin Silver Futures Securities Investment Fund (LOF) due to recent extreme market conditions, ensuring fair treatment for all investors and avoiding preferential redemption [1][5]. - The announcement has garnered significant attention from investors, reflecting the company's commitment to addressing their concerns promptly [1][5]. Specific Plan Details - For individual investors affected by the valuation adjustment (from -17% to -31.5%) with amounts below 1,000 yuan, the settlement amount will be determined based on the actual impact, with this group representing over 90% of the redeeming investors [2][6]. - For those with amounts exceeding 1,000 yuan, the settlement will be calculated based on a base of 1,000 yuan plus a certain percentage of the amount exceeding 1,000 yuan [2][6]. - A dedicated mini-program on Alipay will be available for affected individual investors to verify their identity and process their claims, with the program set to launch on February 26, 2026 [2][6].

Core Viewpoint - The announcement by Guotou Ruijin Fund Management Co., Ltd. regarding the adjustment of the silver fund valuation is a response to the extreme fluctuations in the silver market, aiming to treat all investors fairly and avoid preferential treatment for early redemption [1] Summary by Sections Valuation Adjustment Plan - The valuation adjustment affects individual investors who redeem their shares of the Guotou Ruijin Silver Futures Securities Investment Fund (LOF) based on the net asset value confirmed on February 2, 2026, specifically those who submitted redemption requests between January 30, 2026, at 15:00 and February 2, 2026, at 15:00 [1] - The adjustment will change the valuation impact from -17% to -31.5%, with a total impact amount of less than 1,000 yuan for over 90% of the redeeming individual investors [2] Specific Compensation Scheme - For individual investors with an impact amount below 1,000 yuan, the settlement amount will be determined in full based on the actual impact amount [2] - For those with an impact amount exceeding 1,000 yuan, the settlement amount will be calculated by adding 1,000 yuan to the excess amount multiplied by a certain percentage [2] - Investors can complete identity verification and related procedures through the "Guotou Ruijin Silver Fund" mini-program on Alipay, which will be officially launched on February 26, 2026, to facilitate the resolution of investor claims [2]

Core Viewpoint - The sudden valuation adjustment of the Guotou Ruijin Silver Futures Fund (LOF) led to a historic single-day drop of 31.5%, causing significant investor losses and raising questions about the fund's management and compliance practices [2][10][29]. Group 1: Fund Performance and Impact - On February 2, the fund's net value plummeted from 3.2838 yuan to 2.2494 yuan, marking a 31.5% drop in a single day [6][10]. - The fund experienced a cumulative decline of 40.94% over the following week, with five consecutive trading days of limit-down [2][3]. - The incident resulted in over 100,000 complaints on consumer protection platforms, with some investors seeking redress through regulatory channels [4][6]. Group 2: Company Background and Financials - Guotou Ruijin Fund Management Co., established in 2005, has a management scale of 254.418 billion yuan as of the end of 2025, ranking 34th among public funds in China [4][29]. - The company reported a net profit of 1.49 billion yuan for the first half of 2025, a decrease of 7% year-on-year, indicating potential operational pressures [6][36]. - The fund's management fee is set at 1%, and it generated a net profit of 3.27 billion yuan in the first half of 2025, with management compensation reaching 11.7985 million yuan [20][36]. Group 3: Valuation Method Adjustment - The fund's valuation method was abruptly changed from the Shanghai Futures Exchange settlement price to reference international silver price fluctuations, which triggered the drastic drop in net value [4][10]. - The adjustment raised compliance concerns, as the fund's contract allows for valuation changes only under specific conditions, and the company did not provide prior notice to investors [22][25]. - Investors expressed dissatisfaction over the lack of timely information regarding the valuation change during trading hours, questioning their right to make informed decisions [26]. Group 4: Management and Investor Sentiment - The fund manager, Qian Han, has been in position for only two and a half years and manages 13 products, raising concerns about experience and capability [6][29]. - The incident has led to a significant trust crisis for Guotou Ruijin, with investors increasingly vocal about their grievances and seeking legal recourse [29][33]. - The company has formed a working group to address investor concerns and is exploring solutions to restore confidence [11][29].

Core Viewpoint - The article discusses the significant drop in the net value of the Guotai Asset Management Silver Futures LOF fund, which fell by 31.5% in a single day, leading to widespread investor dissatisfaction and financial losses [2][3][4]. Group 1: Fund Performance and Investor Reactions - The Guotai Asset Management Silver Futures LOF fund experienced a record single-day drop of 31.5%, from a net value of 3.2838 yuan to 2.2494 yuan, surpassing the 17% limit set by the Shanghai Futures Exchange for silver futures [3][4]. - Many investors, including those who attempted to redeem their shares to minimize losses, were caught off guard by the drastic decline, resulting in some owing money to platforms like JD Finance due to the way redemptions were processed [2][3]. - The fund's sudden drop led to a surge in complaints on consumer rights platforms, with nearly 200 complaints filed within three days, primarily concerning the lack of timely information and the perceived unfairness of the valuation adjustment [4]. Group 2: Valuation Adjustment Controversy - Guotai Asset Management adjusted the fund's valuation method to reflect international silver prices due to significant discrepancies with domestic prices, which was met with criticism for being a retrospective change that affected investor decisions made under previous rules [3][5][6]. - The fund's management stated that the adjustment was necessary to protect investor interests and comply with regulatory guidelines, which allow for valuation changes when prices deviate significantly from fair value [6]. - Critics argue that the timing of the announcement, made after trading hours, violated the principle of "law does not have retroactive effect," as it deprived investors of the opportunity to make informed decisions based on the new valuation [6].

但是，有利必有弊。国投白银LOF作为商品期货基金，其风险收益特征与股票、债券基金显著不同，且 价格波动较大。基金的净值表现不仅受国际国内白银价格影响，还受期货合约展期成本、基金仓位管理 等因素影响，另外，作为LOF，它既有净值（申购赎回的基础价格），也有二级市场的交易价格。交易 价格受供需关系影响，可能与净值存在折价或溢价。2月9日，国投白银LOF的二级市场交易价格较其净 值仍然溢价了61.5%。 国投白银LOF的交易价格，从2025年11月24日至2026年1月29日的短短两个多月里上涨了283.27%。 01、终于企稳了 2月9日，国投瑞银白银期货证券投资基金（LOF）（以下简称"国投白银LOF"）二级市场价格终于打开 跌停板，并最终收盘大涨8.36%。 在此之前的5个交易日，国投白银LOF已经连续5次跌停，这也让该基金合计回落了40.93%。 与大部分基金的底层资产为股票、债券等不同，国投白银LOF属于商品期货基金。该基金主要通过买卖 上海白银期货合约来跟踪白银价格走势。 这类基金让普通投资者无需直接开通期货账户，就能通过证券账户（像买卖股票一样）进行投资和交 易，从而参与白银市场的价格波动。 然而，大 ...

Core Viewpoint - The article discusses the dramatic fluctuations in the net asset value of the Guotou Ruijin Silver Futures LOF fund, which experienced a record single-day drop of 31.5% due to a forced valuation adjustment by the fund company, leading to significant investor backlash [3][11][12]. Group 1: Fund Performance and Market Reaction - The Guotou Ruijin Silver Futures LOF fund gained significant attention in the investment community, primarily due to an arbitrage opportunity where investors could purchase the fund at a premium of over 30% [3][23]. - The fund's price surged over three times from November to January, coinciding with a rise in the London silver spot price, which reached a historical high of $121 per ounce [8][28]. - Following a drastic drop in net value on February 2, the fund faced five consecutive trading halts, shocking many investors [11][31]. Group 2: Valuation Adjustment Controversy - The fund's net value drop was attributed to a valuation adjustment made by the fund company to align with international market prices after a significant drop in COMEX silver futures [12][32]. - Investors were not adequately informed about the impending valuation adjustment, leading to widespread dissatisfaction and complaints to regulatory authorities [12][33]. - The fund's management faced criticism for switching valuation benchmarks between domestic and international prices, which disrupted investor expectations [36][37]. Group 3: Regulatory and Operational Issues - The fund's management was criticized for delayed information disclosure regarding the valuation adjustment, which occurred two days after a significant market event [36][40]. - The fund's operational processes were deemed flawed, particularly regarding the high premium in the secondary market due to restrictions on large-scale purchases [37][40]. - The fund company announced plans to address investor concerns and improve communication, but the effectiveness of these measures remains to be seen [40].

出品｜搜狐财经 作者｜汪梦婷 编辑｜杨锦 连续5天一字跌停后，国投白银LOF今天开板大涨。 2月9日10:30，国投白银LOF复牌后瞬间触及跌停价2.789，随即打开跌停板反复震荡，11:08翻红后一度直线拉升至3.350，涨幅8.10%，下午收盘仍涨超8%。 人与人的悲欢并不相通，在投资者社区，有人精准抄底，有人精准卖飞。 V.LIV (EE 0.194 6.26% 开 分时 日K 團K 均价:2.963 最新:3.293 0.194 3.409 3.099 ... 0 2.789 09:30 11:30 现 分时量 量: 25387 原本按照沪银估值，该基金当天跌幅约14%，估值调整后跌幅扩大18个百分点。由于这份估值调整公告发布在晚间十点，且当即生效，白天已"割肉离场"的 投资者被迫承受了更多亏损。 而通过京东金融、腾讯理财等代销平台交易的基民，由于平台提前按照正常下跌幅度垫付了赎回金额，需要基民按照基金最终净值，将平台多垫付的钱进行 退还。 挂跌停价卖出的投资者"拍断大腿"，一位投资者表示，"挂了一周隔夜单没出去，今天跌停价卖出就涨了。前期盈利基本都交了学费。"进场捡筹的也大有人 在，甚至有投资者加杠 ...

专题：估值争议未平，国投白银LOF复牌后上演逆转行情：从跌停到大涨超8% 在上周经历连续五个交易日的跌停后，国投白银LOF（基金代码：161226）于2月9日复牌，上演了一 场"过山车"式行情。该基金早盘一度触及跌停，随后被迅速拉升，盘中最大涨幅超过8%。截至午间收 盘，其涨幅为6.26%，报3.293元。值得注意的是，尽管经历剧烈调整，其最新场内溢价率仍高达 58.38%。 | 国投自银LOF | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 基 SZ161226 | | | | | | | | 3.293 +0.194 +6.26% | | | | | | | | 休盘中 02-09 11:30:00 | | | | | | | | 今开 浄値 | 2.789 | | 2.0792 를 | | 741.43万 | | | 最高 | 3.365 | 增长率 -13.63% | 额 | | 21.97亿 | | | 最低 | 2.789 | 溢价率净 58.38% | 量比 | | 35.82 | | | 分时 五日 目κ 圖K | | | ...