In fact, after careful study, it can be found that funds with a unit net value much higher than the accumulated net value will have the same feature, that is, they are all ETFs (exchange traded funds, which are currently index stock funds). In order to completely copy the tracked stock index, ETF funds need to convert the net value of the fund into one thousandth of the tracked stock index point at a certain point after the fund is established (usually when the index trend is completely copied), and the fund share will be adjusted accordingly. For example, China Merchants Shanghai Stock Exchange 80ETF determines February 1 1 as the fund share conversion date. On that day, the closing price of Shanghai Consumer 80 Index was 3037.22 points, and the total fund share before conversion was 685,530,280, and the net fund share before conversion was 65,438+0.001yuan. After the conversion, the total fund share is 22593 1550, and the net value of the converted fund share is 3.037 yuan. The conversion rate is 0.32957540.

The purpose of keeping the accumulated net value converted into the share before conversion according to the conversion ratio and disclosing the accumulated net value in the fund net value information is to unify the caliber, so that investors can compare it with other types of stock funds, and they can also intuitively see the profit and loss of the fund since its establishment from the accumulated net value. After all, the investors who subscribed when the ETF fund was issued also subscribed according to the net value of 1 yuan. This explains why the unit net value of many ETF funds is higher than the cumulative net value.