国投瑞银白银基金补偿事件迎来新进展。2月26日，"国投瑞银白银基金"小程序在支付宝上线，符合补 偿条件的投资者进入小程序完成身份核验后，可在线办理和解相关事宜。截至2月26日17时上海证券报 记者发稿时，"国投瑞银白银基金"小程序已被超过1万人使用，有用户向记者表示已成功申请补偿。 采取分层原则对投资者进行补偿 2月2日，国投瑞银白银基金净值因调整估值导致当日净值大跌31.5%，引发市场争议。2月6日，国投瑞 银基金发布公告称，公司正在抓紧研究制订相关工作方案，支持投资者解决诉求。春节前，国投瑞银基 金发布了关于白银基金补偿方案的公告。 记者获悉，国投瑞银基金采取分层原则对投资者进行补偿，补偿方案适用于2026年2月2日净值确认赎回 (含2026年1月30日15点之后至2月2日15点之前提交赎回申请)的自然人投资者，不含机构投资者。 其中，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。记者了解到，该部分投资者占当日赎回投资者的比例为92.4%。 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 ...

Core Viewpoint - The article discusses the compensation scheme for investors affected by the valuation adjustment of the Guotou Ruijin Silver Fund, highlighting the reasons why certain investors are not eligible for compensation [1][11]. Group 1: Compensation Scheme Details - The compensation scheme applies only to individual investors who submitted redemption requests between January 30, 2026, 3 PM and February 2, 2026, 3 PM [5]. - Investors who did not redeem their shares are considered to have only experienced "paper fluctuations," and thus are not eligible for compensation [4][14]. - The cumulative net asset value return for the silver LOF fund on February 2 and 3 was -29.23%, closely matching the 29.34% decline in silver futures, indicating that non-redeeming investors were not significantly impacted by the valuation adjustment [6][16]. Group 2: Market Expert Insights - Market experts emphasize the distinction between "realized losses" for redeeming investors and "unrealized paper losses" for those who held their investments [5][15]. - The different trading mechanisms between on-market trading and off-market redemption mean that on-market investors are not covered by the compensation scheme, as their transaction prices reflect real-time market conditions [8][18]. - The valuation adjustment process was initiated to maintain fair valuation and prevent "first redemption advantage" behaviors during extreme market conditions, which protects the interests of all investors [8][19]. Group 3: Future Recommendations - Experts suggest that the asset management industry should improve its emergency response mechanisms and enhance the timeliness of information disclosure to better protect investor interests during market volatility [9][19].

Core Viewpoint - The compensation plan for investors affected by the valuation adjustment of the Guotou Ruijin Silver Fund has officially launched, allowing eligible investors to apply for compensation through an online platform [1][2]. Group 1: Compensation Plan Details - The compensation scheme was initiated on February 26, allowing investors to complete identity verification and related settlement matters online [1]. - For individual investors affected by the valuation adjustment, those with an impact amount below 1,000 yuan will receive full compensation, while those above 1,000 yuan will have a tiered compensation structure [2]. - The tiered compensation includes: 35% for amounts between 1,000 and 2,000 yuan, 25% for amounts between 2,000 and 3,000 yuan, 15% for amounts between 3,000 and 5,000 yuan, 10% for amounts between 5,000 and 10,000 yuan, and a cap of 5% for amounts exceeding 10,000 yuan [2]. Group 2: Investor Reactions - Many investors with lower investment amounts have expressed acceptance of the compensation, while those with higher investments have shown dissatisfaction with the proposed compensation amounts [10]. - Some investors have indicated intentions to pursue legal action due to perceived unfairness in the compensation scheme [10]. - The company has acknowledged the high volume of inquiries and complaints from investors, leading to temporary disruptions in the online application process [10].

Core Viewpoint - The announcement by Guotou Ruijin Fund Management Co., Ltd. regarding the silver fund compensation plan aims to address the extreme market conditions affecting silver prices and ensure fair treatment for all investors, particularly small and individual investors [2][3]. Summary by Sections - The compensation plan applies to individual investors of the Guotou Ruijin Silver Futures Securities Investment Fund (LOF) who redeemed their shares between January 30, 15:00 and February 2, 15:00, based on the net asset value confirmed on February 2 [5]. - Over 90% of the affected individual investors will receive full compensation for amounts impacted by the valuation adjustment, which changed from -17% to -31.5% for amounts below 1,000 yuan [4][5]. - For individual investors with amounts exceeding 1,000 yuan, the compensation will be calculated based on a fixed amount of 1,000 yuan plus a certain percentage of the excess amount [5]. - A mini-program will be launched on February 26 to facilitate the compensation process for investors, allowing them to verify their identity and apply for compensation through Alipay [6][7]. - The compensation plan is seen as a positive response to the majority of investors, with broad coverage, high compensation rates, and efficient processing methods, contrasting with previous cases where investors had to resort to litigation for compensation [7].

Core Viewpoint - The compensation plan by Guotou Ruijin has sparked significant discussion, being labeled as the first of its kind in the industry, with a focus on addressing investor concerns and improving their experience [1][17]. Summary by Relevant Sections Compensation 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 in full based on the actual impact [2][17]. - For those with amounts exceeding 1,000 yuan, the settlement will be calculated starting from 1,000 yuan plus a certain percentage of the amount exceeding 1,000 yuan [2][17]. - Over 90% of the investors who redeemed on that day had amounts below 1,000 yuan, which was an unexpected statistic [2][17]. Investor Experience and Market Reaction - The plan is referred to as a "settlement" rather than "compensation," aiming to quell public opinion and enhance investor experience, although it may have worsened the situation for some investors [3][18]. - The net value has dropped by 32.6% since January 30, leading to a disparity where early redeeming investors only faced a 17% loss, while those who held on are now facing a 32% loss [3][20]. - The approach has raised concerns about the treatment of different investor groups, suggesting that those who acted quickly were rewarded while those who remained invested bore the brunt of the losses [21][22]. Broader Implications and Investor Sentiment - The situation has created internal conflicts among investors, with some feeling that the initial flaws in fund management have shifted the burden onto those who stayed invested [21][22]. - There is a growing sentiment among investors that the compensation plan may encourage a culture of seeking compensation through complaints rather than understanding investment risks [25][26]. - The discussion around this issue is expected to continue, with many investors expressing dissatisfaction and calling for further action [22][24].

Core Viewpoint - The article discusses the compensation plan announced by Guotou Ruijin for investors affected by the valuation adjustment of the Guotou Silver LOF fund, highlighting the measures taken to address investor concerns and ensure fair compensation [3][5]. Summary by Sections Compensation Plan - On February 15, Guotou Ruijin announced a compensation plan for investors affected by the valuation adjustment of the Guotou Silver LOF fund, with full compensation for losses under 1,000 yuan and proportional compensation for losses exceeding that amount [3][6]. - The plan specifies that only individual investors who redeemed their shares between January 30 and February 2, 2026, are eligible for compensation, excluding institutional investors [6]. Investor Impact - The valuation adjustment, which changed from -17% to -31.5%, affected over 90% of the redeeming individual investors, with those under 1,000 yuan receiving full compensation [6][8]. - Investors can apply for compensation through the Alipay mini-program starting February 26, 2026, with the expectation that compensation will be processed within approximately 10 working days [3][6]. Market Context - The valuation adjustment was made to prevent the fund's net asset value from appearing artificially high due to extreme market conditions, as the international silver market experienced unprecedented volatility [7][8]. - The adjustment aimed to mitigate potential mass redemptions that could lead to greater losses for remaining investors, highlighting the importance of proactive risk management in extreme market situations [8][9]. Response to Investor Concerns - Guotou Ruijin's swift response, including the establishment of a working group and the development of a compensation plan within 12 days, reflects the company's commitment to addressing investor grievances and ensuring transparency [9][10]. - The compensation plan is designed to provide reasonable relief to affected investors, particularly small and medium-sized investors, acknowledging the unique challenges posed by extreme market conditions [8][9].

Core Viewpoint - Guotou Ruijin announced a compensation plan for investors affected by the valuation adjustment of Guotou Silver LOF, aiming to address concerns over fairness and transparency in the adjustment process [1][2]. Group 1: Compensation Plan Details - Investors with losses below 1,000 yuan will receive full compensation, while those with losses exceeding 1,000 yuan will be compensated proportionally [1][2]. - The compensation plan specifically targets individual investors who redeemed their shares between January 30 and February 2, 2026, excluding institutional investors [2]. - Over 90% of the affected investors had losses below 1,000 yuan, indicating a significant portion of the investor base will benefit from full compensation [2]. Group 2: Technical and Operational Aspects - The compensation process will be facilitated through an online platform on Alipay, set to launch on February 26, 2026, to streamline the claims process for investors [1][3]. - The company is preparing technical support to ensure a smooth compensation process, given the large number of affected investors [3]. Group 3: Market Context and Rationale - The valuation adjustment was made to prevent the fund's net asset value from appearing artificially high due to extreme market conditions, where international silver prices experienced unprecedented volatility [4]. - The adjustment aimed to mitigate potential mass redemptions that could disproportionately impact remaining investors, highlighting the importance of proactive risk management in the public fund industry [5]. Group 4: Investor Protection Measures - The compensation plan reflects a commitment to protecting the rights of investors, particularly small and medium-sized investors, in light of the extreme market conditions [6]. - The swift development of the compensation plan, within 12 days of the incident, demonstrates the company's responsiveness to investor concerns and the urgency of addressing the situation [6].

2月15日晚，国投瑞银基金管理有限公司在官网发布关于白银基金相关方案的公告。全文如下： 公司网站：www.ubssdic.com 国投瑞银基金管理有限公司关于白银基金相关方案的公告 尊敬的投资者： 受近期白银市场价格出现历史性极端行情影响，为公平对待所有投资者，避免"先赎占优"，公司对国投瑞银白银期货证券投资基金（LOF）进行估值调 整，相关公告引发投资者高度关注。我们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，我们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。 我们遵循分层分类、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日净值确认赎回（含2026年1月30日15点之后至2月2日15点之前提交赎回申请）的自然人投资者，不含机构投资者。 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）。 2.对估值 ...

2月15日晚间，国投瑞银基金管理有限公司发布关于白银基金相关方案的公告。受近期白银市场价格出 现历史性极端行情影响，为公平对待所有投资者，避免"先赎占优"，公司对国投瑞银白银期货证券投资 基金（LOF）进行估值调整，相关公告引发投资者高度关注。 相关小程序将于2月26日正式启用 公告称，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2月26日正式启用。 市场人士表示，国投瑞银补偿方案体现了对绝大多数投资者的有效回应，补偿覆盖面广、补偿比例高、 补偿效率快。一是补偿范围广，覆盖所有当日已赎回的全部个人投资者。二是补偿比例高，对1000元以 下的全额补偿，1000元以上按一定比例补偿。三是补偿手段方便快捷，公司已拿出具体补偿方案，并通 过支付宝小程序即可操作，方便投资者快速、便捷地申请补偿。无需像前期多数投资者纠纷案例中，需 投资者发起诉讼或仲裁才能得到补偿。 针对不少投资者关心为何未赎回投资者没有在补偿范围内，该市场人士表示，因 ...

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）。 格隆汇2月15日丨国投瑞银基金管理有限公司公告，受近期白银市场价格出现历史性极端行情影响，为 公平对待所有投资者，避免"先赎占优"，公司对国投瑞银白银期货证券投资基金（LOF）进行估值调 整，相关公告引发投资者高度关注。公司已第一时间统筹部署，制定了专项工作方案。我们遵循分层分 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日净值确认赎回（含2026年1月30日15点之后 至2月2日15点之前提交赎回申请）的自然人投资者，不含机构投资者。具体方案如下： 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。 如何抓住黄金波段机会？聪明钱的选择，黄金+股票一键搞定>> 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 ...