The formula for calculating the net value of the fund is: (total assets of the fund-total liabilities of the fund) ÷ total shares of the issued fund. For example, the total assets of the fund is 400 million yuan, the total liabilities are 400 million yuan, and the total issuance share is 300 million, so the net value of this fund is 1.2 yuan.
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The net value of a fund unit is the net asset value of each fund unit, which is equal to the balance of the total assets of the fund minus the total liabilities and then divided by the total number of unit shares issued by the fund.
Fund valuation refers to the process of calculating and evaluating the value of fund assets and liabilities at fair prices to determine the net asset value and net fund share value.
meaning
As the net value of fund shares is the calculation basis of the purchase and redemption amount of open-end funds, it is directly related to the interests of fund investors, which requires that the calculation of the net value of fund shares must be accurate.
The net value of fund shares must be fair.
key factor
I. Valuation frequency
That is, how long the time interval is to value the fund assets.
China open-end funds are valued every trading day, and the net value of fund shares is announced the next day.
Closed-end funds disclose the net value of fund shares once a week, but it is also the valuation of each trading day.
Second, matters needing attention
1, trading active securities; Inactive securities
2, the valuation should be cautious, in which the liquidity of securities assets is a very key factor.
3. Price manipulation and overvaluation.
4. Consistency and openness of valuation methods.
Valuation method
The consistency of valuation methods means that funds adopt the same valuation methods and abide by the same valuation rules when valuing assets. The disclosure of valuation methods means that the valuation methods adopted by the fund need to be publicly disclosed in the fundraising documents stipulated by law. If the fund changes its valuation method, it also needs to be disclosed in time.