Fund share is a kind of certificate, which shows that the holder has the right to distribute the income of fund property according to his share, obtain the remaining property after liquidation and other related rights, and undertake corresponding obligations. Fund share can be simply understood as "the number of funds".
For example, we bought a basket of eggs in the market (screen prompt: assuming that each egg has the same size and weight), the net asset value of the fund is equivalent to the net asset value of this basket of eggs (the basket is dropped on the screen), and the share is equivalent to the number of eggs, and the weight of each egg is the net asset value of the fund that we will talk about next.
Generally speaking, there are two kinds of fund net value: fund share net value and accumulated net value.
I. Net value of fund shares and accumulated net value
1. The net share value is the value of each fund. The calculation formula is the net asset value of the fund divided by the total fund share. The net value of fund share is the basis for calculating the subscription share and redemption amount of investors. The net value of the newly established fund is 1 yuan.
(Formula: Net Fund Share = Net Fund Asset Value/Total Fund Share)
2. Cumulative net value refers to the total value of accumulated dividends and splits based on the net share value since the establishment of the fund.
(Formula: cumulative net value = share net value dividends. )
Compared with the net share value, the accumulated net value can better reflect the historical performance of the fund, because dividends also come from the fund's profits. The more dividends paid to investors during the duration of the fund, the higher the total return and the higher the accumulated net value.
Second, how to treat the net value of the fund correctly?
When buying a fund, many people are easily influenced by their net worth. When they see funds with net worth in 5 yuan, 7 yuan or even higher, they will flinch, thinking that the high net worth of the fund means that the fund is expensive and not worth buying.
In fact, as can be seen from the previous formula, the net value of the fund is affected by the total net assets and shares of the fund. Whether the fund can make money mainly depends on the profitability of the assets it buys, and has nothing to do with the net value.
Let's go back to the fund purchase scenario. Suppose we lock in two funds in the market. The current net share value of Fund A is 1 yuan, and the current net share value of Fund B is 2 yuan.
We bought 10000 yuan from Fund A and Fund B respectively. Although the share of Fund A is 10000 (10000/net value 1 share) and the share of Fund B is 5000 (10000/net value 2), it does not mean that Fund A is cheaper than Fund B, and the total net assets of the funds purchased are exactly the same. The income performance during the holding period will start from 6,543,800 yuan.
Therefore, the net value of the fund can not reflect its "nobility", and the value of the fund is essentially determined by the comprehensive factors such as the asset performance of the fund investment and the investment management ability of the fund manager.
It is enough to play with funds and see the fund research institute. Let's meet again next time.
Risk: the fund is risky and needs to be cautious in investment. Investors should read the fund contract, prospectus, product information summary and other legal documents to understand the risk-return characteristics of the fund, especially the unique risks, and judge whether it is suitable for their own risk tolerance according to their own investment objectives, investment experience and asset status. The fund manager promises to manage and use the fund assets in good faith and prudence, but does not guarantee that the income or principal of the fund will not be lost. Past performance does not indicate its future performance, and the performance of other funds does not constitute a guarantee for the performance of the Fund.
Related Q&A: Is it a loss to hold less shares than the principal? Holding shares is less than the principal. The fund holding share is calculated according to the fund net value, and the fund net value is also the price of a fund. The holding share is the current number (number of shares) of the fund and the present value of the fund held by the market value. The market value formula is market value = net value * share, so there will be cases where the holding share is less than the principal. It is normal to hold less than the principal. Each fund share represents the net value of the fund. The net value of the fund is constantly changing, and so is the total value. Total fund assets = net fund value × share. Even if the share is less than the principal, it cannot be considered as a loss. The shares held have nothing to do with the profit or loss of the investment. Take the fund as an example, the initial unit net value of open-end funds is generally 1, and the unit net value of the fund will be updated every trading day after the fund goes public. For fund products with relatively stable expected rate of return, the net unit value of the fund may rise, so the net unit value of investors may be higher than 1 when purchasing fund products. The fund holding share is calculated according to the net fund value, and the subscription share = [subscription amount /( 1+ subscription rate) ]/T-day net fund share value. For example, an investor bought a fund product of 654.38 million yuan. The subscription rate is 0, and the net value of the fund share on the subscription day is 1.0200, so the subscription share =10000/1.0200 = 9803.92, and the investor's share will be lower than the investment principal. Fund transaction rates include subscription fees, redemption fees, sales service fees and other items. According to different charging standards, the same fund product can be divided into Class A and Class C, in which Class A charges subscription fees according to the subscription amount of the fund. Take a bond A fund as an example, the subscription amount is less than 654.38+0 million, and the subscription fee is charged at 0.6% (some platforms can get a discount of 654.38+0 to 0.06%). The subscription amount of ordinary individual investors is below 6.5438+0 million, and most of them need to pay the subscription fee. Assuming the subscription amount is 1 000 yuan, the subscription fee is 1 000 * 0.06% = 6 yuan. The subscription fee is directly deducted from the subscription amount, so if you buy Class A fund products, you may also hold less shares than the principal due to the subscription fee.