The "real-time valuation" we see is actually just a reference value. This value is estimated by the fund sales platform according to the top ten stocks of the fund, and it is not the real value of the fund's rise and fall. The significance of its existence is only to give fund holders a reference during the day, so that everyone can know in advance whether the fund may rise or fall today. The computational logic behind this valuation varies from platform to platform. According to my observation, among the financial management apps such as Ant Wealth, Licaitong, Tian Tian Fund, and Straight Flush Fund, the most straight flush valuation has a high accuracy and the smallest error. Some people may want to go deeper, why can't this valuation be more accurate or completely accurate? You want to hear it, I can continue to explain it to you. This accuracy is calculated according to the rise and fall of the stocks held by the fund. If the fund has been buying stocks in Man Cang and knows which stocks it has bought, then the estimated fund valuation must be very accurate if the position remains unchanged. However, this is basically impossible for ordinary equity funds and hybrid funds, because fund managers will switch positions and exchange shares according to market rotation, and the stock target will change and the holdings will change, so there will be errors. Some people may ask, let the fund manager announce the position so soon? That won't do. This is against the rules, that is, people often say "rat storehouse". Think about it, if the fund manager tells everyone what stocks to buy and what to add every day, then everyone will buy those stocks in advance, and the market will be in chaos. Therefore, according to the relevant national laws and regulations, the fund manager can only publish the positions of the fund on a regular basis, that is, the quarterly and annual reports of the fund, in which the fund holder can inquire about what the fund manager has bought in the past period of time.

The valuation of Alipay Fund is accurate. Fund valuation is to estimate the assets and liabilities of the fund according to a certain price, which is not fixed. Investors can judge whether a fund has investment value according to its valuation.

When the fund is overvalued, it shows that the fund has a bubble and the investment risk is high. When the fund is undervalued, it shows that the fund has investment value and high profit probability.