(NAV)*** The total asset value of the assets owned by the same fund calculated according to the market closing price of each business day, after deducting the costs and expenses of the fund on that day, is the net asset value of the fund on that day. Divided by the total number of units issued by the fund on that day, it is the unit net value. Fund valuation is the key unit to calculate the net asset value, that is, the net asset value represented by each fund unit. The formula for calculating the net asset value of fund units is: 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, etc.). ) calculated at fair price. Total liabilities refer to liabilities arising from fund operation and financing, including various 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. Fund valuation is the key to calculate the net asset value of fund units. Funds usually invest in various investment instruments in the securities market, such as stocks and bonds. Because the market price of these assets is constantly changing, only by recalculating the net asset value of the unit fund every day can the investment value of the fund be reflected in time. The valuation principle of fund assets is as follows: 1. Listed stocks and bonds shall be calculated according to the closing price on the calculation date. If there is no transaction on that day, it will be calculated according to the closing price of the latest trading day. 2. Unlisted stocks are calculated at cost price. 3. Unlisted government bonds and unexpired time deposits are calculated according to the accrued interest plus principal on the valuation date. 4. Under special circumstances, when it is impossible or inappropriate to determine the asset value according to the above provisions, the fund manager shall handle it according to the relevant provisions.

Net fund income