来源：中国证券报 尽管随着场内交易价格的调整，该基金溢价率较2025年12月峰值有所回落，但仍维持在高位。面对居高 不下的市场热度，该基金持续发布风险提示公告，并在1月7日、1月8日连续两天于开市后停牌一小时， 提醒投资者警惕高溢价叠加高波动带来的双重风险。 据了解，该基金的较高溢价主要源于三重因素叠加：一是产品稀缺性，该基金是国内唯一一只主要投资 白银期货的场内公募基金，市场关注度较高；二是申购限制影响，基金的场外申购限额导致大量资金涌 入场内交易，推高场内价格；三是套利机制失效，LOF基金"场外申购—场内卖出"的常规套利路径中， 存在T+2时滞问题，使得高溢价状态难以快速缓解。 业内人士提醒，当前国投白银LOF的高位溢价状态仍未根本改变，叠加白银期货市场本身的波动风险， 投资者需充分认识该基金的高风险属性，避免盲目追高。高溢价往往不可持续，很多时候高溢价背后可 能有游资炒作。对于场内流动性偏弱的LOF产品而言，一旦有风吹草动，场内提前埋伏的大资金快速卖 出，很容易出现跌停。此前，曾出现高溢价LOF产品连续大跌。从近期市场关于白银期货投资的最新观 点来看，多空博弈态势有所加剧，投资者需注意投资风险。 图片来 ...

钛媒体App 1月11日消息，国投白银LOF 1月10日发布溢价风险提示公告称，近期，基金二级市场交易 价格波动较大，请投资者密切关注基金份额净值。投资者如果盲目投资于高溢价率的基金份额，可能面 临较大损失。值得注意的是，1月5日—1月10日，该基金连续6天发布了溢价风险提示。业内人士提醒， 当前国投白银LOF的高位溢价状态仍未根本改变，叠加白银期货市场本身的波动风险，投资者需充分认 识该基金的高风险属性，避免盲目追高。高溢价往往不可持续，很多时候高溢价背后可能有游资炒作。 对于场内流动性偏弱的LOF产品而言，一旦有风吹草动，场内提前埋伏的大资金快速卖出，很容易出现 跌停。此前，曾出现高溢价LOF产品连续大跌。从近期市场关于白银期货投资的最新观点来看，多空博 弈态势有所加剧，投资者需注意投资风险。（中证金牛座） ...

1月10日，国投白银LOF发布溢价风险提示公告称，近期，基金二级市场交易价格波动较大，请投资者 密切关注基金份额净值。投资者如果盲目投资于高溢价率的基金份额，可能面临较大损失。值得注意的 是，1月5日—1月10日，该基金连续6天发布了溢价风险提示。 图片来源：基金公告 公告显示，1月8日，国投白银LOF的A类份额单位净值为2.1311元，截至1月9日，基金二级市场的收盘 价为2.530元，明显高于基金份额净值。国投瑞银提示，目前，基金A类基金份额的申购金额上限为 100.00元。后续将调整A类基金份额申购限额，基金二级市场价格的高溢价率不具备可持续性。 本周（1月5日—1月9日），该基金场内交易价格整体呈现"先扬后抑"走势，与COMEX白银的同期行情 走势较为接近，高波动特征明显。 周初，受白银资产市场关注度提升带动，国投白银LOF延续上涨，1月5日、1月6日连续大涨，1月6日的 单日涨幅达9.53%，收盘价报2.598元，换手率同步攀升至超过20%，成交额放大至15.87亿元。不过，高 位回调风险随即释放，1月7日、1月8日，该基金出现明显调整，盘中跌幅一度超过3%。 尽管随着场内交易价格的调整，该基金溢价 ...

Core Viewpoint - Guotou Ruijin Fund announced a temporary suspension of trading for its Guotou Ruijin Silver Futures Securities Investment Fund (LOF) due to significant fluctuations in the secondary market price, aiming to protect investor interests [1] Summary by Relevant Sections - **Fund Performance** - As of January 6, the net asset value per unit of the fund was 2.1319 yuan, while the closing price in the secondary market on January 7 was 2.565 yuan, indicating a substantial premium over the net asset value [1] - **Trading Suspension Details** - The fund will suspend trading from January 8, 2026, at the market opening until 10:30 AM, with a possibility of applying for a temporary suspension or extending the suspension if the premium does not decrease effectively [1] - **Investor Warning** - The announcement cautions investors against blindly investing in fund shares with high premium rates, as it may lead to significant losses [1]

（来源：财闻） 截至2025年12月31日，本基金二级市场的收盘价为2.251元，明显高于基金份额净值，投资者如果盲目 投资于高溢价率的基金份额，可能面临较大损失。 1月4日，国投瑞银白银期货证券投资基金(LOF)A类基金份额发布二级市场交易价格溢价风险提示公 告。近期，国投白银LOF A类基金份额二级市场交易价格波动较大，请投资者密切关注基金份额净值。 2025年12月30日，本基金基金份额单位净值为2.0119元，截至2025年12月31日，本基金二级市场的收盘 价为2.251元，明显高于基金份额净值，投资者如果盲目投资于高溢价率的基金份额，可能面临较大损 失。 场交易价格溢价风险提示公告 公告称，目前，本基金A类基金份额申购金额上限为100.00元。后续，本基金管理人将调整A类基金份 额申购限额，本基金二级市场价格的高溢价率不具备可持续性，敬请特别关注。 近期,国投瑞银基金管理有限公司(以下简称"本基金管理人")旗下国投 瑞银白银期货证券投资基金(LOF)A类基金份额(场内简称:国投白银 LOF:交 易代码:161226,以下简称"本基金")二级市场交易价格波动较大,请投资者 密切关注基金份额净值。20 ...

Core Viewpoint - The Guotou Ruijin Silver Futures Securities Investment Fund (LOF) experienced significant volatility in the secondary market, with a maximum intraday increase of over 9% after resuming trading, reflecting a high trading volume and a notable price fluctuation [1][3]. Group 1: Fund Performance - The fund opened at the limit down price after resuming trading at 10:30 AM on December 29, but quickly rebounded, closing with an 8.8% increase and an intraday fluctuation close to 20% [1]. - On December 25, the A-class share net value was 1.9469 yuan, while the secondary market closing price on December 26 was 2.524 yuan, indicating a significant premium [3]. Group 2: Management Actions - To protect investors, the fund management implemented a trading suspension from the market opening until 10:30 AM on December 29 due to the large price fluctuations [3]. - The management stated that if the premium in the secondary market does not effectively decrease, they reserve the right to apply for a temporary trading suspension or extend the suspension time [3]. Group 3: Investor Guidance - The fund management emphasized that the high premium rate in the secondary market is not sustainable and warned investors against blindly investing in high premium fund shares, as it may lead to significant losses [3]. - Starting from December 29, the C-class shares of the fund will suspend subscription services to protect the interests of fund shareholders [3].

Group 1 - The global precious metals market has experienced a historic surge, with silver prices rising by 10% to nearly 20 yuan per gram, gold reaching a record high of $4549 per ounce, and platinum jewelry prices exceeding 1000 yuan per gram [1] - The price increase in silver has led to significant gains for investors, with reports of individuals making as much as 180,000 yuan overnight [1] - The Panda silver coin has seen a price increase of 40 yuan for the 30-gram specification, totaling an 80 yuan rise over two nights, indicating strong demand in the coin collecting market [4] Group 2 - The surge in silver prices has caused the Guotou Silver LOF, which primarily invests in silver futures, to experience severe premiums, with a premium rate around 30% despite consecutive trading halts [8] - Following 16 risk warnings, Guotou Silver LOF announced a temporary suspension of its A-class fund shares starting December 29, 2025, to manage market risks [8] - Analysts have noted that the silver market is smaller and less liquid compared to gold, lacking institutional support, making it more susceptible to speculative trading and price volatility [8]

Group 1 - Silver prices surged by 10%, approaching 20 yuan per gram, while spot gold reached a historic high of 4549 USD per ounce, marking a significant increase in precious metals [1] - The price of the 30-gram Panda silver coin increased by 40 yuan, with a total rise of 80 yuan over two days, indicating strong demand in the coin market [4] - Investors in silver funds reported gains of nearly 70%, with one fund experiencing a 100% increase when accounting for premiums [6] Group 2 - The demand for silver has surged, with a jewelry store owner in Hangzhou reporting a significant increase in transactions, including a customer who made a profit of 20,000 yuan by buying and selling silver within a week [10] - Another jewelry store owner noted a "frenzied" buying atmosphere, with customers purchasing large quantities of silver bars, indicating a strong market interest [12] - The National Investment Silver LOF fund has experienced severe premiums, with a premium rate around 30%, and has issued multiple risk warnings due to market volatility [15]

涨疯的白银期货基金，泡沫初现破裂。 12月25日，国投白银LOF（上市型开放式基金）复牌后一字跌停，但场内溢价率仍超45%。此前白 银期货价格刷新高，而公募基金仅此一只可投白银期货，且A、C份额均已限购。 由于LOF基金的套利机制，国投白银LOF短期吸引了大量套利投机者。从表现看，这只白银基金近 一个月场内涨幅高达120%。 | 合屏 F9 不复权 超级叠加 画线 丁具 Q 2 | 国投自银LOF | | 161226 | | --- | --- | --- | --- | | 2025/03/27-2025/12/25(185日) | | | -0.312 -10.01% | | | SE CNY 15:00:00 闭市 | | 1 . . + | | 3.116-> | 标书画史 | | 国投瑞银白银期货A | | | 北 | -100.00% 委差 | -4891242 | | 2.90 | F | 2.808 | 5396 | | | | 2.807 | 4075 | | | | 2.806 | 3935 | | | | 2.805 | 15912 | | | | 2.804 | 4861923 | ...

白银连日大涨，A股市场唯一一只"纯白银"基金近日备受关注。 继昨日发布停牌1小时公告之后，国投白银LOF今日再度公告称，截至2025年12月25日，本基金二级市场的收盘价为2.804元，明显高于基金份额净值，投 资者如果盲目投资于高溢价率的基金份额，可能面临较大损失。为保护投资者利益，本基金将于2025年12月26日开市起至当日10:30停牌，自2025年12月 26日10:30复牌。 此外，国投瑞银白银期货（LOF）还发布公告称，12月29日起，限制本基金A类基金份额定期定额投资金额为100.00元。 12月25日，国投白银LOF经过连续三个涨停之后，一开盘便被封死在跌停板上，全天成交金额超8亿元。 | 国投白银LOF | | | --- | --- | | 161226 L1 - | | | 2.804 2.804 | 会开 3.116 最高 3.116 最低 | | 0.58 -10.01% -0.312 | 总手 279.6万 金额 8.09亿 量比 | | 申文 | 最新净值 1.9278 折价率… -45.45% 最新份额 27.05亿 | | 国投瑞银白银期货( ... 12-24净值 1.92 ...