fund unit net value: it is the current total net assets of the fund divided by the total share of the fund.

net fund value = total assets/fund shares

the net fund unit value is the net asset value of each fund unit, which is equal to the balance of total assets minus total liabilities of the fund and divided by the total number of unit shares issued by the fund. The subscription and redemption of open-end funds are carried out 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.