We all know that the face value of the fund when it is issued is 1 yuan. If the fund loses investment after a period of operation, it will fall below the face value 1 yuan. At this time, the fund is actually losing money, so there is no income, so it is negative. As for whether the cost is too high, it is not necessarily. It may also be that the investment stock market has fallen.

Negative distributable income has nothing to do with the future trend, because it can only represent that the fund's investment has been in a state of loss in the past period of time, or there is another situation, that is, the fund value falls below 1 yuan after dividends, and the distributable income is also negative, but in fact the fund's past performance is profitable.