Throughout the world's fund valuation procedures, there are the following ways:

1. The fund manager independently completes the fund valuation and announces the net asset value of the unit fund, and the fund manager is responsible for all valuation errors;

2. After completing the valuation, the fund manager submits it to the fund custodian for review, and the fund manager announces the net asset value of the unit fund, and both parties bear corresponding responsibilities;

3. The fund manager entrusts the custodian or professional institution to make valuation, and the custodian or professional institution informs the manager of the valuation result, and the manager announces the net asset value of the fund unit. All valuation errors are the responsibility of the custodian or professional organization.

In China, the daily valuation of funds is carried out by the fund manager and custodian at the same time. After the fund manager completes the valuation of the net asset value of the fund share, he will report the valuation result to the fund custodian in written form, and the fund custodian will recheck it according to the valuation method, time and procedure stipulated in the fund contract. After the recheck is correct, the fund custodian will return it to the fund manager. When there is an error in the fund valuation, the fund manager shall immediately announce and correct it, and take reasonable measures to prevent the loss from further expanding; When the valuation error deviates to a certain proportion of the net asset value of the fund, the fund manager shall notify the fund custodian and report it to the China Securities Regulatory Commission for the record. If losses are caused to investors due to incorrect fund valuation, the fund manager shall bear the losses first, and the fund manager has the right to recover the responsibilities that should not be borne by him.

(2) The date of confirmation of valuation refers to the actual date of valuation of fund assets. Due to the different management systems and fund types, the specific norms of fund asset valuation date are also different. However, countries usually stipulate that fund managers must evaluate fund assets every trading day or once a week or at least once a month and make an announcement. China Securities Investment Fund managers and custodians conduct daily valuation of fund assets.