Applicable product type: products valued by amortized cost method, and the representative products are money fund and bank goods-based products, as well as some personal old-age security products.

Meaning: Take the money fund as an example, the seven-day annualized rate of return represents the data obtained after the annualized calculation of the total income of the product in the past seven days.

Calculation formula: 7-day annualized rate of return = total rate of return of money fund in the past 7 days /7 x 365.

Ten thousand shares of income represent how much income is generated every day for every ten thousand money fund shares, that is, the income that fund holders can really get every day.

Calculation formula: ten thousand income = daily income x 10000 principal;

Real daily earnings = funds bought/10000* ten thousand earnings announced daily.

How to understand it: For example, the annualized rate of return of money fund A is 3.65% a year, and Xiaoming holds the fund 10000 yuan, so he has earned 7 yuan (10000x3.65%/365x7) in the past seven days; Monetary Fund A's daily income 1 yuan, Xiaoming's daily income 1 yuan. You can definitely see that the seven-day annualized rate of return emphasizes the income of the past seven days, not the fixed income of 1 year. This rate of return actually changes every day. Today's seven-day annualized rate of return is inconsistent with yesterday's, which often happens.

Extended data:

The rate of return in recent N years and the rate of return from establishment to this year

Applicable product types: net-worth products mainly used for market-oriented valuation, and the representative products are non-monetary Public Offering of Fund (such as stock funds and bond funds), private equity funds, securities firms' asset management, etc. After the "new asset management regulations", the newly developed bank wealth management is net worth, and all of them have begun to adopt this rate of return display method.

Meaning: the income in recent n years refers to the cumulative yield of products in recent n years, and the calculation formula is: the income in recent n years = (net value of the unit of reinstatement at the end of the interval-net value of the unit of reinstatement on the first day of the interval on the previous trading day) X 100% of the net value of the unit of reinstatement on the first day of the interval.

The annualized rate of return since its establishment refers to the annualized conversion of the accumulated rate of return since its establishment. Calculation formula: annualized rate of return since its establishment = cumulative rate of return since its establishment x 365 days after its establishment.

How to understand: this way of expressing the rate of return is the most intuitive, which directly represents the income that can be obtained by holding this product for n years or in the past. For example, Xiaoming bought a stock fund B with a market value of 10000 yuan on 20 19/0/0, and the market value of the stock fund B held by Xiaoming rose to 12000 on February 30, 20 19.

It should be noted that the yield of 20% only represents the historical performance of the product at 20 19 and cannot represent the future. It must be clearly recognized that the return rate of equity fund B in 2020 may be higher or lower than 20%, and it is normal to have losses.

03 accrual basis of performance reward

Applicable product types: mostly used in asset management plans of fund subsidiaries and securities companies, private equity funds, etc.

Meaning: The annualized income starting point for managers to accrue performance pay under the condition of realizing income on behalf of products.

How to understand: this kind of income display is mostly used for private equity products that pursue absolute income. When the product performance is good, investors will reward the manager appropriately and distribute the part beyond the performance reward benchmark to the manager in a certain proportion to arouse the enthusiasm of the manager. For example, a small collection of brokers, the performance reward benchmark is 5%, and the excess is 60% for managers and 40% for investors. When the final performance of the product is 6%, the investor actually gets 5% (6%-5%) * 40% = 5.4%, and the manager can get an extra 0.6%.