net value normalization means that if the total amount is the same, the net value of the fund will be changed into 1 yuan, and the funds held will change accordingly.

for example, if the net value before normalization is 1.2 and you have 1, shares, then after normalization, the net value becomes 1 and your share becomes 12, shares.

the net value of a fund unit refers to the current total net assets of the fund divided by the total share of the fund. Its calculation formula is: fund unit net value = total net assets/fund share.

the net value of a fund unit is the net asset value of each fund unit, which is equal to the balance of the total assets minus the total liabilities of the fund and then divided by the total number of units issued by the fund.

both the subscription and redemption of open-end funds are conducted at this price. The transaction price of closed-end funds is the known market price at the time of buying and selling; On the other hand, the unit transaction price of open-end funds depends on the unit fund's net asset value, which is unknown at the time of subscription and redemption (but can be calculated after the market closes on the same day and announced on the next trading day).

the valuation of fund unit net value refers to the estimation of fund net asset value at a certain price. It is the key to calculate the net asset value of unit funds. Funds often invest in various investment tools in the securities market, such as stocks and bonds. Because the market prices of these assets are constantly changing, only by recalculating the net asset value of unit funds every day can the investment value of funds be reflected in time. The valuation principles of fund assets are as follows:

1. Listed stocks and bonds are calculated according to the closing price on the calculation day, and if there is no transaction on that day, it is calculated according to the closing price of the latest trading day.

2. Unlisted shares are calculated at their cost price.

3. Unlisted government bonds and unexpired time deposits are calculated by adding the principal to the accrued interest on the valuation date.

4. in case of special circumstances, it is impossible or inappropriate to determine the asset value according to the above provisions, the fund manager shall handle it in accordance with the relevant provisions of the state.

No matter what kind of fund, the total amount of the fund is divided into several equal integer shares at the time of initial issuance, and each share is a "fund unit". In the process of fund operation, the unit price of the fund will change with the change of fund asset value and income. In order to accurately price and quote the fund, so that the fund price can accurately reflect the true value of the fund, it is necessary to estimate the actual representative value of each fund unit at a certain point, and publish the valuation results as net asset value.