The appearance of fund valuation plays a very important role in fund investment. Although the valuation is relatively inaccurate, it is close. In our fund investment, it sometimes plays a key role and plays a certain reference role, avoiding our blind operation and improving the convenience and accuracy of our fund.
The fund company will announce the net value of the fund on the evening of the trading day, which means that when we buy and sell during the day, we don't know what the price is. At this time, the fund valuation will give you a reference, have a general understanding of the fund trend of the day, and decide to buy and sell according to this reference value.
The significance of "net value estimation" is to provide reference for investors to carry out the next operation of the fund. However, for reference only. If it is used as the only basis for avoiding risks in the purchase/redemption operation, it is not desirable. Fixed investment is a natural means to buffer risks.
As we said just now, the fund company will announce the net value of the fund on the evening of the trading day, which means that when we buy and sell during the day, we don't know what the price is. At this time, the fund valuation will give you a reference, have a general understanding of the fund trend of the day, and decide to buy and sell according to this reference value.
However, since the description is an estimate, the estimate is for reference only. Trading funds should be judged by multiple factors to avoid chasing up and down. To judge whether a fund is worth investing, we should observe the investment direction of the fund, the investment ability of the fund manager and the long-term net value trend of the fund.
Of course, we can find problems through the comparison between valuation and net worth, especially active funds. If the gap between valuation and net worth is too big, you can think about the reasons. The position of this fund is likely to change greatly, which can bring us some reference.
2. How to use the net fund value correctly (1) The actual income has nothing to do with the net fund value. Using 1 10,000 yuan to buy A and B funds with different net worth, although they get different shares, the actual income is the same under the same increase. Assuming that both funds A and B increase by 50% in a period of time, the net value of fund A is 1.5 yuan, and the net value of fund B is 3 yuan. The assets of the two funds are1.5 *10000 =15000, 3*5000= 15000, and there is no difference.
This shows that the net value of the fund only affects the number of fund shares bought by fund holders, and the final increase is only related to the rate of return of the fund, not to the net value.
(2) The net value of the same fund is different. Although the net value of the fund reflects the past historical performance, the performance is still affected by other factors. For example, when two funds are issued, the net value is 1 yuan. Under the management of the fund manager, the net value of the two funds has reached 2 yuan:
Scenario 1: Assuming that the two funds are issued at different times, regardless of dividends, if Fund A is issued before 1 year, its annual income will be 100%. If another fund has been established for 10 years, and it takes 10 years from net worth to 2 yuan, the annualized income will be only. Therefore, if we only look at the net value of the fund and don't look at the operation period, it is impossible to judge which fund is better.
Scenario 2: Suppose two funds are issued at the same time, but there is a dividend during Fund A and B has no dividend. Under the same unit net value, the performance of fund A is obviously better. Therefore, the unit net value cannot measure the historical dividend situation of the fund, but depends on the accumulated net value.
(3) Instead of looking at the level of net worth, it is better to look at the historical income of the same fluctuation of net worth. Because of the different investment styles, the risks corresponding to the performance of each fund are also different.
Assuming that two equity funds, A and B, are issued at the same time, and the returns in a certain year are both 50%, then the net value of a fund fluctuates like riding a roller coaster, once falling to negative 40% and finally rising to 50%? Or do you prefer to hold a B fund that diligently accumulates income, strictly controls retracement, and finally achieves 50% income? I believe many investors like to hold Class B funds, because under the same performance, the smaller the fluctuation of fund net value, the more stable the investment style and the more sustainable the performance.
From the perspective of fund managers, funds with the same performance, more stable net worth and smaller withdrawal scale require higher investment management ability of fund managers. From the holder's point of view, the fluctuation of net worth also tests the psychological quality of the holder. Even if the fund achieves positive returns during an inspection period, it should be asked whether it can be held.
In short, when trading funds, don't rely too much on net worth estimation, and don't be confused by valuation. Problems can be found through the comparison between valuation and net worth, especially in active funds. If the gap between valuation and net worth is too big, you can think about the reasons. The position of this fund is likely to change greatly, which can bring us some reference.
When choosing a fund, we should correctly understand the meanings of unit net worth, accumulated net worth and estimated net worth. Trading decisions should not be made solely on the basis of the fund's net value, valuation level and ups and downs, but should correctly use the net value data to evaluate the fund's performance. Fund investment, or should buy long not short, too much emphasis on valuation is easy to lose money.