The QDII fund of Huaan Fund Company once invested in the money fund of Lehman Brothers.

Because of the liquidation of the subprime mortgage crisis in 2008, after a difficult lawsuit, some assets were recovered, causing a lot of losses.

Monetary funds are generally valued by amortized cost method, so their liquidation value depends on the market value of the securities they hold on the liquidation date.

If the market value is higher than the cost price, there will be no loss.

If the market value is lower than the cost price, there will be a loss.

Specifically, we can see the deviation of the money fund. If the deviation is positive, there is no loss; If the deviation is negative, there will be losses.