When Alipay buys 006327, which day's net value is it calculated on?
I bought 006327 today on Alipay. I thought I would place the order before 3 PM, but what I received was based on “today’s Hang Seng Tech closing price.” The profit displayed on the page didn’t update for ages, and confirming the shares was also delayed. My first reaction was sheer shock: how is this thing actually settled/transacted? And why do I have to wait another two days?
To be honest, this misunderstanding is extremely common. Alipay has made buying and selling over-the-counter (OTC) funds look too much like placing stock orders, but fundamentally, there are two pitfalls in this matter. First, 006327 is absolutely not the Hang Seng Tech Index Fund. Second, when you buy a fund through OTC channels, the price you get is not based on an index’s real-time closing point, but rather the Net Asset Value (NAV) calculated by the fund company for that specific day. Furthermore, coupled with the