Extended information:
1. Note that the total number of units of open-end funds changes every day. Statistics must be made after the closing date of the transaction, and the unit net asset value of the day can be obtained by dividing it by the fund net asset value of the day, which can be used as the basis for investors to purchase and redeem. The subscription and redemption of funds occur every day, so the net value of fund shares as the basis of transactions must be calculated after the market closes every day and announced the next day. Valuation of fund share net value refers to the estimation of fund net asset value at a certain price. Calculating the net asset value of unit fund is the key. Funds usually invest in various investment instruments in the securities market, such as stocks and bonds.
2. Because the market price of these assets is constantly changing, only by recalculating the net asset value of the unit fund every day can the investment value of the fund be reflected in time. The principle of asset valuation of the Fund is as follows: listed stocks and bonds are calculated according to the closing price on the calculation date. If there is no transaction on that day, it shall be calculated according to the closing price of the latest trading day. Unlisted shares are calculated at the cost price, while unlisted government bonds and overdue time deposits are calculated at the accrued interest plus principal on the valuation date. Under special circumstances, if it is not feasible or appropriate to determine the value of assets in accordance with the above provisions, the fund manager shall handle it in accordance with the relevant provisions of the state.
3. No matter what kind of fund, when it is first issued, the total amount of the fund is divided into several equal integer shares, each of which is a "fund unit". In the process of fund operation, the unit price of the fund will change with the change of fund asset value and income. In order to price and quote the fund more accurately and make the fund price reflect the true value of the fund more accurately, it is necessary to estimate the actual representative value of each fund unit at a certain point and publish the valuation result as the net asset value. Valuation Throughout the world, due to different management systems, the specific provisions on the valuation date of the fund's net asset value are also different. However, it is generally stipulated that the fund manager must calculate and publish the net asset value of the fund at least once every working day or every week and month.
4. Although the fund manager must evaluate the net assets of the fund according to the regulations, the fund manager has the right to suspend the valuation under the following special circumstances: the securities trading places involved in the fund investment are suspended due to legal holidays or some reasons; Huge redemption occurs; Other irresistible reasons make it impossible for the manager to accurately evaluate the net asset value of the fund. Known price calculation known price, also known as historical price, refers to the closing price of the previous trading day. The known price calculation method is that the fund manager calculates the total value of financial assets owned by the fund according to the closing price of the previous trading day, including stocks, bonds, futures contracts, warrants and so on. , plus cash assets, divided by the total amount of fund shares sold, to get the net asset value of each fund share. Using the known price calculation method, investors can know the transaction price of the unit fund on that day and go through the delivery procedures in time.