For example, on October 5th, 65438/kloc-0, a fund's net share value was 2 yuan, and it is planned to distribute dividends to each 0.5 yuan. 65438+10.6 is the dividend ex-dividend date, so the net value of fund shares after dividends on that day is 1.5 yuan.
If you invest 10000 yuan to buy this fund in 6543810.5, you will get 5000 shares of this fund (for the convenience of calculation, it is assumed that the subscription rate is 0). 65438+10.6, after dividends, 5000×0.5=2500 yuan. If the dividend is reinvested, you can get 2500/ 1.5= 1666.67 copies on the same day. Therefore, the total share after dividends is 6666.67, and the total market value of the fund is 6666.67×1.5 =10 million yuan. If you buy after paying dividends, the share you get from investing 1 0,000 yuan is also 6666.67 yuan. It can be seen that there is no difference between the two situations.
Of course, in reality, the net value of fund shares will change due to the fluctuation of the stock market, thus affecting the purchase price difference of fund assets before and after dividends. But in theory, this difference is not caused by dividends. Even if the fund does not pay dividends, the net value of this series purchase fund will change.
However, for the funds with a large proportion of dividends in recent days, many funds have reduced their positions more or less to cope with the cash dividends required by the funds. We can notice that when the market rises strongly, it will be more difficult for the net value of these funds to rise after dividends. But if there is a sharp adjustment in the market outlook, it is good for these funds. Because these funds with large dividends in the near future tend to attract a lot of new subscription funds, this can not only avoid some downside risks, but also open positions at a relatively low cost, so they are always lucky. Therefore, you don't have to take the dividend time as the weather vane of your investment fund, but how to go in the market outlook is the most important thing.
Finally, there is a small detail. The time for cash dividend and dividend reinvestment is different. If dividend reinvestment is selected, it will be directly converted into corresponding fund shares on the dividend ex-dividend date, such as 65438+10.6 in the above example, and the price on that day is 1.5 yuan, and no handling fee will be charged. Therefore, for dividend reinvesters, in the rising market, dividend is of little significance. If you choose cash dividend, it will generally be transferred to your fund account two days after ex-dividend.