The factors that affect the change of fund net value mainly lie in the investment portfolio of the fund. Equity funds mainly invest in the stock market, allocation funds mainly invest in stocks and bonds, and bond funds mainly invest in various bonds. The fluctuation of stock market and bond market will directly affect the change of fund net value.

Operational ability of fund managers.

Market factors, including bond interest rate, stock price change, central bank deposit interest rate, monetary policy, etc.

Changes in the net market value of stocks or bonds invested by the fund.