Transformation is an instantaneous process. Before the conversion, the funds held shall be settled according to the net value (including income), and then the funds to be converted shall be bought for conversion. How much income can be obtained after the conversion depends on the performance of the newly held fund.

For example, two funds, A and B, switch funds on a certain working day.

The transfer of Fund A to Fund B involves the net value of Fund A and Fund B, both of which are the net values after the closing of working days.

It includes several steps:

When Fund A is transferred out, the net value is traded at the working day net value, and the redemption fee of Fund A is deducted.

The net transfer-out amount of Fund A is the subscription amount of Fund B..

The subscription amount of Fund B is deducted from the subscription fees of Fund A and Fund B, and the make-up fee is deducted.

After deduction, it is the net subscription amount of fund B.

Then divide it by the net value of fund B on that working day to get the share transferred to fund B.

Therefore, there is no intermediate time in this process, and all transactions are conducted according to the net value of the day.