Net fund value refers to the net asset value of each fund. The formula is: net fund unit value = (total assets-total liabilities) total fund shares. The subscription and redemption of open-end funds are executed at this price, which is calculated after the market closes every day and announced the next day. The transaction price of closed-end funds is the market price determined when buying and selling. Simply put, when the fund is issued, there is a total share, and the net value is how much a fund has sold at present. For example, if you buy 1 0,000 funds with a net value of 1.2 yuan, then the price you buy is the net value of the funds, that is, the net asset value of each fund. The formula is: net value of fund unit = (total assets-total liabilities) ÷ total fund shares. The subscription and redemption of open-end funds are implemented at this price, calculated after the market closes every day and announced the next day. The transaction price of closed-end funds is the market price determined when buying and selling.