1, there are two main ways for fund dividends: one is cash dividends, and the other is dividend reinvestment. If the dividend is paid in cash, the share will not change; If reinvested according to dividends, the share can be calculated according to the following formula:
Net subscription amount = subscription amount /( 1+ subscription rate) subscription share = net subscription amount/net value of fund unit.
2. Fund dividend means that the fund distributes part of the income to fund investors in cash, which is originally part of the net value of the fund unit. People usually refer to funds mainly as securities investment funds.
First of all, we should know the net asset value of the fund, which is the basis for calculating the total income. The total return is the net asset value growth rate of unit funds during this period.
The net asset value of the fund is the balance of the total market value of the fund assets after deducting liabilities at a certain time, which represents the rights and interests of the fund holders. The net asset value of a fund unit refers to the net asset value of the fund represented by each fund unit.
Net asset value of fund units = (total assets-total liabilities)/total number of fund units
Among them, total assets refer to all assets owned by the fund, including stocks, bonds, bank deposits and other securities; Total liabilities refer to liabilities arising from fund operation and financing, including expenses payable to others and interest payable on funds. The total number of fund shares refers to the total number of fund shares issued at that time.
The process of fair value calculation of fund assets is the valuation of funds, and valuation is the key to calculate the net asset value of unit funds. Because the market prices of stocks, bonds and other assets owned by the fund have changed, the net asset value of the unit fund needs to be recalculated every trading day. The net value of closed-end funds is published at least once a week, and the net value of open-end funds is published once every trading day.
Valuation method is very important. For example, the listed negotiable securities owned by the fund, such as stocks, are valued at the market price (average price or closing price) listed on the stock exchange on the valuation date. According to the average valuation, the change of the fund's net asset value is less affected by the fluctuation of stock price. At present, closed-end funds and a few open-end funds are valued at the average price, and most open-end funds are valued at the closing price. The newly promulgated Fund Information Disclosure and Compilation Rules No.2, which will be implemented on June 65438+ 10/2004, uniformly stipulates that closed-end funds are valued at the average price and open-end funds are valued at the closing price.
For open-end funds, the unit net value is the pricing basis, that is, the price of subscription or redemption depends on the unit net value of the fund on the same day (usually announced the next day), plus or minus the corresponding transaction costs. Due to the limited issuance scale of closed-end funds, the demand and supply of funds by investors are unbalanced, which leads to the transaction price being higher or lower than the unit net value, which is called premium transaction or discount transaction. At present, domestic closed-end funds are generally in a state of discount trading, and the discount rate is around 20%.