Net unit value:
The net value of fund unit (share) refers to the value of each share of the fund on that day. It is the net asset value of the fund divided by the total share of the fund to get the value of each share of the fund on that day. On each business day, the total assets of the fund are calculated according to the closing price of the securities market invested by the fund, and the net assets of the fund on that day are obtained after deducting the various costs and expenses of the fund on that day. Divided by the total number of fund units that occurred on the day of the fund, it is the net value of each fund unit.
Cumulative net value:
The cumulative net value of the fund refers to the sum of the net value and dividend performance since the establishment of the fund, which reflects the cumulative expected annualized expected income obtained since the establishment of the fund (minus the face value of one yuan is the actual expected annualized expected income), which can reflect the historical performance of the fund in the operation process more intuitively and comprehensively. Combined with the operation time of the fund, it can more accurately reflect the real performance level of the fund.
The difference between cumulative net worth and unit net worth:
First of all, you need to understand the dividend and split mechanism of the fund. You can understand the difference between the two net values through the following information.
1. Dividend mechanism
Simply put, funds return cash to investors, usually because there are no good investment opportunities, they don't want to leave cash idle, or they need to attract investors through dividends. Dividends are not deducted from the accumulated net value, and dividends are deducted from the net value.
Unit Net Value = Fund Net Asset Value/Share (rough algorithm)
Use the simplest hypothesis to calculate:
An investor invested 65,438,000 yuan in a fund. Assuming that he is the sole investor, the net asset value of the fund is 65,438+000 yuan, and the unit net value is 65,438+0.0 yuan/share, totaling 65,438+000 shares.
After a period of time, the fund obtained a certain expected annualized expected return through investment (such as stocks or bonds). The net asset value of the current fund is 65,438+050 yuan, and the unit net value is 65,438+0.5 yuan/share.
Because the fund has no good investment opportunities and a lot of cash, it decided to pay dividends to 50 yuan.
The net fund value becomes 100 yuan, the unit net value becomes 1.0 yuan/share, the total share is 100 share, and the cumulative net value is 1.5 yuan/share.
2. Split mechanism
The reason for splitting fund shares according to a certain proportion is usually to reduce the net value of fund shares and attract investors.
Let's take the above funds as an example. At the beginning, the fund with a unit net value of 1.0 yuan/share obtained a very good expected annualized expected return after investment, and the unit net value reached 5.0 yuan/share. At this time, many investors want to buy this fund, but there is an idea that "if the net value is too high, it will not rise". In order to continue to attract this part of investors, the Fund decided to split up according to the ratio of 1:5. The initial fund share of 65,438+000 shares was changed to 500 shares, the net asset value of the fund remained unchanged, and the unit net value was changed to 65,438+0.0 yuan/share, and the cumulative unit net value was 5.0 yuan's share.
So in fact, the cumulative net value is used to represent the total income of this fund since its establishment, because it contains all historical dividends and splits. The net value only indicates the net value of each fund share at the current moment.