Multiple LOF (listed open-end funds) have seen continuous daily limit up, hidden risks behind high premium.

Recently, there have been frequent anomalies in the LOF market, with several products under Caitong Fund continuously hitting the daily limit for trading of on-exchange shares, causing the premium rate to soar to over 20% and attracting widespread attention in the market. At first glance, this seems closely related to the impressive performance of fund manager Jin Zicai, who has been betting on the AI computing power track and achieving a return of nearly 530% in the past year. However, a deeper analysis reveals that the high premium is actually a result of a fund game played with very small float shares - some products only need tens of thousands of yuan to hit the daily limit. Although fund companies have urgently limited purchases and frequently suspended trading, the amplification effect on social media may actually exacerbate speculative sentiment rather than "blocking outsiders". Industry insiders warn that these high premiums disconnected from the fundamentals are like a "game on quicksand", and once the sentiment recedes, investors will face the double risks of price regression and bursting of the premium.