---
title: "Fund Subscription and Redemption Rules"
description: "Fund transactions are processed based on the trading day (T day), with 12:00 (China standard time) as the cutoff. Units purchased before the cutoff will be confirmed within T+3. Proceeds from fund redemptions may take up to 7 trading days to be credited to your account. Specific rules and amount limits are subject to the product details.1. Purchase rulesPurchase processPurchase processExamplePlace a purchase order"
slug: "uqn2kwo"
locale: "en"
region: "hk"
region_label: "Hong Kong"
url: "https://longbridge.com/hk/en/support/topics/fundtrading/uqn2kwo.md"
updated_at: "2025-10-10T09:15:29.000Z"
category: "fundtrading"
category_title: "Fund trading"
references:
  related:
    - title: "Money Market Fund Subscription /Redemption Rules"
      url: "https://longbridge.com/hk/en/support/topics/fundtrading/0ubv12.md"
    - title: "Fund FAQs"
      url: "https://longbridge.com/hk/en/support/topics/fundtrading/x71sm57.md"
    - title: "Fund Fee Rules"
      url: "https://longbridge.com/hk/en/support/topics/fundtrading/rwx5yn4.md"
    - title: "Fund Subscription Agreement（ETF Included）"
      url: "https://longbridge.com/hk/en/support/topics/fundtrading/etf.md"
    - title: "Agreement of Fund Automatic Investment Plan "
      url: "https://longbridge.com/hk/en/support/topics/fundtrading/hk-aip-agreement.md"
---

# Fund Subscription and Redemption Rules

[Table of Contents](https://longbridge.com/hk/en/support/toc.md)

Fund transactions are processed based on the trading day (T day), with 12:00 (China standard time) as the cutoff. Units purchased before the cutoff will be confirmed within T+3. Proceeds from fund redemptions may take up to 7 trading days to be credited to your account. Specific rules and amount limits are subject to the product details.

## 1\. Purchase rules

### Purchase process

**Purchase process**

**Example**

Place a purchase order

Before 12:00 on T Day

Before 12:00 on Mar 2, 2020

Confirm units

Estimate on T+3

Expected to confirm purchased units on Mar 4, 2020

View returns

Estimate on T+4

Expected to view returns on Mar 5, 2020

> Note: T day refers to the trading day. 12:00 (China standard time) is the cutoff: Orders placed before 12:00 (excluding 12:00) are considered as placed on T day. Orders placed at or after 12:00 are considered as placed on T+1. Weekends and public holidays (subject to the country where the fund company is located) are non-trading days.

### Trading Amount

-   Minimum purchase amount: Please check the fund details page.
-   Subsequent purchases: Please check the fund details page.

### Order cancellation rules

-   Orders placed before 12:00 on T day can be canceled.
-   Orders placed after 12:00 on T Day cannot be canceled. You need to wait for the units to be confirmed, and can apply to sell on the second trading day after confirmation.

## 2\. Selling rules

### Selling process

**Selling process**

**Example**

Place a sell order

Before 12:00 on T Day

Before 12:00 on Mar 9, 2020

Confirm net worth

T+3

Expected to confirm net worth on Mar 11, 2020 (net worth of Mar 9)

Funds arrive

Within 7 trading days

Funds are expected to arrive by March 17, 2020

> Note: T day refers to the trading day. 12:00 (China standard time) is the cutoff: Orders placed before 12:00 (excluding 12:00) are considered as placed on T day. Orders placed at or after 12:00 are considered as placed on T+1. Weekends and public holidays (subject to the country where the fund company is located) are non-trading days.

### Trading Amount

-   Minimum holding units/amount: Please check the fund details page.
-   Minimum selling units: Please check the fund details page.

### Order cancellation rules

Go to the fund trading records page to apply for order cancellation, which takes effect on the same day.

**Key takeaways**:

-   Purchase rules
    -   **Cut-off time**: Place an order before 12:00 (exclusive) on the trading day (T day) (China standard time).
    -   **Unit confirmation:** Units are confirmed on T+3 (postponed for non-trading days).
    -   **View returns**: T+4
    -   **Cancellation**: Orders can be canceled before 12:00 on T Day; not allowed after.
-   Selling rules
    -   **Cut-off time:** Place the sell order before 12:00 on T day.
    -   **Funds arrival**: Funds arrive within 7 trading days after net worth confirmation (net worth confirmed on T+3).
    -   **Cancellation**: Sell orders can be canceled on the submission day (operated through the fund trading record page).

**Disclosures**

*This article is for reference only and does not constitute any investment advice.*

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice. Content provided by [Longbridge](https://longbridge.com).