The net fund value does not include management fees and custody fees. Operating expenses (i.e. management fees, custody fees and sales service fees) are accrued from the fund assets every day: the net value of the fund published every working day has been deducted from the operating expenses, and investors do not need to pay separately in each transaction.

The net value of a fund unit refers to the value of each fund and is an indicator to measure the value of the fund. Net value of fund unit = total net asset value of fund/total share of fund unit, and the subscription and redemption of open-end funds are carried out at this price.