Gains and losses from changes in fair value. According to official website's inquiry, fund expenses refer to the total outflow of economic benefits in the daily investment and business activities of the fund, which will reduce the owner's equity and has nothing to do with the distribution of profits to fund holders. Specifically, it includes administrator's remuneration, custody fee, sales service fee, transaction fee, interest expense and other expenses. The subscription fee belongs to the expenses borne by the fund investors themselves and is not included in the fund fee.