The decline of fund net value is mainly caused by the decline of fund theme. For equity funds, the decline in fund net value is due to the decline in stocks invested by the fund. Index funds fell because the investment index fell that day. There are many reasons for the decline of the theme: the deterioration of the international economic situation, the tightening of monetary policy, the deterioration of the company's financial situation, and the increase and decrease of shareholders' holdings will all affect the stock price decline.

For example, if the country adopts a tight monetary policy, there will be no excess funds flowing into the stock market, and the reduction of liquidity will not push up the stock price, and the net value of the fund will fall.

When the stock market is bad, many funds are losing money, and many investors will redeem the funds. Fund managers will be forced to sell shares to pay for the redemption. After the stock is sold, the net value of the fund will fall. Therefore, if the fund has a redemption wave or a large number of redemptions, it will also affect the decline of the fund's net value.

Finally, fund managers have rich trading experience and stock selection ability, which will directly affect the rise and fall of the fund's net value.