The so-called fund discount means that when the net value of graded B shares falls to a certain price (such as 0.25 yuan), in order to protect the interests of holders of A shares, the fund company will discount the graded funds downwards according to the contract. After the conversion is completed, the net value of A shares and B shares will be restored to the initial net value of 65,438+0 yuan, the holders of A shares will get their parent shares, and the share of B shares will be reduced according to a certain proportion. Generally speaking, when the net value of B share of graded fund is less than 0.250 yuan, it will trigger the threshold of irregular downward conversion of graded fund, in order to protect the principal and agreed income of A share.