There are three differences between fund valuation and fund net value:

1. The essential differences between the two:

1. The essence of fund valuation: fund valuation Value refers to the process of calculating and evaluating the value of fund assets and liabilities based on fair prices to determine the net asset value of the fund and the net value of fund shares.

2. The essence of fund net value: The net value of fund units refers to the current total net assets of the fund divided by the total number of fund shares.

2. The calculation methods of the two are different:

1. Calculation method of fund valuation: The consistency of the valuation method means that the fund uses the same method when valuing assets. The valuation method follows the same valuation rules. The publicity of the valuation method means that the valuation method used by the fund needs to be publicly disclosed in the fundraising documents required by law. If the fund changes its valuation method, it also needs to disclose it in a timely manner.

2. Calculation method of fund net value:

(1) Known price calculation: Known price is also called historical price, which refers to the closing price of the previous trading day. The known price calculation method means that the fund manager calculates the total value of the financial assets owned by the fund, including stocks, bonds, futures contracts, warrants, etc., plus cash assets based on the closing price of the previous trading day.

This is then divided by the total number of fund units sold to obtain the net asset value of each fund unit. Using the known price calculation method, investors can know the buying and selling price of unit funds on the same day and can handle delivery procedures in a timely manner.

(2) Unknown price calculation: Unknown price, also known as futures price, refers to the closing price of various financial assets in the securities market on that day. That is, the fund manager calculates the net asset value of the fund unit based on the closing price on that day. When this calculation method is implemented, investors do not know the price of the fund they buy or sell that day, and will only know the price of the unit fund the next day.

3. The nature of the two is different:

1. The nature of fund valuation: Since the net value of fund shares is the basis for calculating the subscription and redemption amounts of open-end funds, it is directly related to The interests of fund investors require that the calculation of the net value of fund shares must be accurate.

Based on recent market changes and issues related to fair value determination and measurement in the implementation of new accounting standards by fund management companies, the China Securities Regulatory Commission has no regulations on fund valuation business, especially long-term suspended stocks. Issues such as the valuation of market-priced investment products have been further standardized, and the "Guiding Opinions on Further Standardizing the Valuation Business of Securities Investment Funds" have been formulated.

2. The nature of the fund's net asset value: Looking at various funds in various countries around the world, the specific regulations on the valuation date of the fund's net asset value are also different due to different management systems. However, it is generally stipulated that fund managers must calculate and publish the net asset value of the fund on every business day or once a week or at least once a month.

Baidu Encyclopedia-Fund Valuation

Baidu Encyclopedia-Fund Net Value