The net asset value of a fund refers to the balance after deducting liabilities from the total market value of fund assets calculated at fair prices at a certain fund valuation time point. This balance is the equity of fund unit holders.

The process of calculating fund assets at fair value is the valuation of the fund.

The net asset value of a unit fund is the net value of the fund assets represented by each fund unit.

The formula for calculating the net asset value of a unit fund is: Net asset value of a unit fund = (total assets - total liabilities) / total number of fund units. Among them, total assets refer to all assets owned by the fund (including stocks, bonds, bank deposits and other securities, etc.

) Total assets calculated at fair price.

Total liabilities refer to the liabilities formed during fund operations and financing, including various fees payable to others, interest on funds payable, etc.

The total number of fund units refers to the total number of fund units outstanding at that time.

Fund valuation is key to calculating the net asset value of a unit fund.

Funds often invest in various investment tools in the securities market, such as stocks, bonds, etc. Since the market prices of these assets are constantly changing, only the net asset value of unit funds is recalculated daily to reflect the investment value of the fund in a timely manner.

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The valuation principles of fund assets are as follows: 1. Listed stocks and bonds are calculated based on the closing price on the calculation day. If there is no transaction on that day, the calculation is based on the closing price on the most recent trading day.

2. Unlisted stocks are calculated at their cost price.

3. Unlisted treasury bonds and unmatured time deposits are calculated based on the principal plus the accrued interest on the valuation date.

4. If it is impossible or inappropriate to determine the value of assets in accordance with the above provisions under special circumstances, the fund manager shall handle it in accordance with relevant national regulations.

The trading price of closed-end funds is the market price that is known when the buying and selling behavior occurs; unlike this, the trading price of fund units of open-end funds depends on the price that is not yet known when the subscription and redemption behavior occurs (but it can be determined after the market closes on that day).

Calculated and announced on the next trading day) the net asset value of the unit fund.