computing formula
Income = fund net value of the day × fund share ×( 1- redemption fee)-subscription amount+cash dividend.
Rate of return = income/subscription amount × 100%
How to calculate the fund rate of return
Suppose an investor subscribes for multiple funds in the primary market at the price of 1.05438+0 yuan per share. How is the rate of return calculated? There are three situations to analyze this.
Because we want to calculate the short-term rate of return of fund investment, we choose the index of current rate of return. Current rate of return R=(P-P0+D)/P0
Market Price P> Initial Purchase Price P0
The initial purchase price P0 is less than the current price P, and the rate of return R of fund holders is in an ideal state, and the size of R depends on the price difference between P and P0.
Suppose that the initial price P0 of the investor 1.2 1 yuan when he bought Xinghua on June 4, 1999, the current price P is 1.40 yuan, the dividend amount is 0.022 yuan, and the yield R is17.2%; 1July 5, 999, the initial price P0 is 1.34 yuan, so the half-year yield is 4.47% and the annual yield is 8.9%. 19991October 8th, 65438 was 1.33 yuan (at that time, it was also the average price of 1999 in the second half of the year), so its three-month holding income was 5.26%, equivalent to 2 1% per annum. Of course, this conversion is only to compare with the interest rate of bank savings deposits in the same period. This method is not scientific.
As can be seen from the above example, when the current market price of the fund is greater than the initial subscription price of the fund, investors can get relatively rich returns.
Market price P= initial purchase price P0
Since the market price is the same as the initial purchase price, the current investment income of fund investors is 0. At this point, the amount of fund dividends did not increase the investor's rate of return. There is a simple reason. Let's take Xinghua Fund as an example.
Assume that the initial subscription price of investors is 65,438+0.40 yuan, and the current market price is 65,438+0.40 yuan. The price remains unchanged the day before the ex-dividend date of the fund, and the fund pays 0.36 yuan per share. If an investor sells the fund the day before the ex-dividend date, it is obvious that his rate of return is 0 (regardless of the opportunity cost). After ex-dividend, the fund price is 65,438+0.04. Although the investor gets a cash dividend of 0.36 yuan, the fund in his hand can only be sold to 1.04 in the market (regardless of the speculation of the fund, the fund price is similar to "filling the right").
Of course, if the price of the fund rises after ex-dividend, the income of fund investors will start to be positive and increase with the price rising. Conversely, if the fund price falls below 1.04, fund investors will suffer losses.
Market price p