The total liabilities of the fund are liabilities formed in the process of fund operation and fund raising, including expenses payable to others, income payable, interest payable on funds, etc.

Funds often invest in various securities investment tools 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 fund share every day can the investment value of the fund be reflected in time.

When calculating the net value of fund shares, we not only need to know the total assets of the fund (some are called total assets of the fund), but also need to know a parameter called total liabilities of the fund (some are called total liabilities of the fund).