When buying, your amount will be converted into shares according to the net closing unit value of T-day fund. All shares will be displayed when selling, but the amount will be calculated according to the net value of the fund unit on T-day.
The calculation formula of fund redemption amount is: redemption amount = (fund share * net value of fund share on T day)-redemption fee.
1, fund share
Fund share refers to the number of funds held by investors. The fund share at the time of redemption may be the same as or different from the fund share at the time of purchase. For example, if the fund has dividends and chooses to reinvest in dividends, the fund share will change during the holding period.
When redeeming, the system will generally automatically calculate the fund shares, and investors only need to select the corresponding redemption shares, without having to calculate them themselves.
2. Net value of fund share on T day
T-day refers to the trading day of the fund, excluding legal holidays and weekends. The calculation period is based on the closing time of the story, that is, T-day before 15:00 and T+ 1 after 15:00.
For example, if an investor applies to sell the fund before February 27th, 65438 (Friday) 15:00, the net value of the fund share on T day is 15:00. If the investor applies to sell the fund after 15: 00, the net value of the fund share on T day will be 12: 30 (next Monday).
3. Redemption fee
The rate of fund redemption fee is generally set according to the number of days held by the fund. Redemption fee = (fund share * net value of fund share on T day) * redemption rate.
How to inquire about the redemption amount of the fund?
The trading principle of the fund is that the price is unknown. The net value of fund shares on T day is generally announced in the evening, so investors can only see the net value of the fund in the previous trading day when applying to sell the fund, but can't see the real-time net value, and naturally they can't know how much the fund is redeemed. After the redemption application is submitted on T day, the fund company will confirm the fund share and fund net value on T+ 1 day, and then the accurate fund redemption amount can be calculated.