The fund manager's "stealing" refers to the situation that the net value of the fund share at the opening is less than the net value of the share after the settlement that night. Some investors think that this part of the missing net value is illegally occupied by the fund manager, so it is called "stealing vegetables".

So is the fund manager really "stealing"?

There are funds stolen, which may be caused by fund managers changing positions frequently. However, regular fund companies usually do not withdraw funds, and the possibility is very low. Therefore, if you are worried about the theft of the fund, try to choose the fund products launched by large regular fund companies when purchasing the fund, so you don't have to worry about the theft of the fund. After all, regular fund companies will severely crack down on fund theft. In addition, investors' money to buy funds is entrusted to custodian institutions such as banks and brokers, which are supervised by the custodian institutions. The fund company is only responsible for the investment operation and management of the fund. The fund manager will not directly contact the funds during the investment operation, but will issue trading instructions, and the custodian bank will complete the transfer of funds. The separation of fund managers and funds eliminates the risk of misappropriation of funds.

So why is the valuation inconsistent with the actual net value?

First, let's look at the calculation of the estimate. The calculation of the estimate is provided by the third-party fund sales organization, not the fund company. Therefore, we will find that the valuation of the same fund is different on different fund platforms (such as Tian Tian Fund Network, Ant Wealth, etc.), because each company has different time to obtain data and different logic to calculate data, resulting in different valuation results. In addition, the estimation calculation is based on the fund position data released by the fund company at the end of last quarter, but in actual operation, the fund manager will change positions frequently, so the base used in the estimation calculation is biased, which will also lead to inaccurate calculation.

Secondly, let's look at the actual net worth calculation. The actual net value is calculated by the fund company or the institution entrusted by the fund company, and is calculated according to the actual positions held on that day. Then each fund sales organization obtains this actual net value data and publishes it on its own website, so that we will find that both fund companies and other sales organizations are completely consistent in the actual net value of funds without deviation. Therefore, the estimated net value and the actual net value will inevitably be different. However, this is not the so-called "stealing vegetables" behavior, but a misunderstanding of fund investment.

In short, both strict regulatory requirements and big data monitoring by high-tech means ensure that it is difficult for fund managers to "steal vegetables" and investors can relax.