12% profit is still lost. Does it mean that your friend invested 65438+ million, and after a while it became11.20 million? Or did your friend buy the fund when the net value of the fund was 1.3, and the fund became 1. 12 when it was redeemed, and the total income of the fund was 12%, but it was still a loss for your friend?

If so, in the first case, it depends on the time when your friend buys the fund. If you buy it for 4 years, the income in that year is about 3%, but the CPI is 6%, plus the fund subscription and redemption fees, then this fund has not made any money.

If, in the second case, the net value of the fund at the time of redemption is much higher than that at the time of subscription, even if there is no loss.

If you have any questions, please ask.