No, the rise and fall of the fund's net value is not determined by the purchase and redemption, but by the investment target. If the investment target rises, the fund's net value rises and the investment target falls, then the fund's net value falls.

It should be noted that the huge redemption of the fund will cause the net value of the fund to skyrocket, and the huge redemption of the fund will generate a large amount of redemption fees, which will be included in the fund assets and the net value of the fund will skyrocket. Net value of fund unit = total market value/share after closing. However, the surge brought by the huge redemption will not affect investors' income.