1, net value estimation
Open-end funds are generally diversified investments, and fund assets include cash, stocks and bonds. The market value of a fund refers to the market value or circulation value of all assets of the fund. When calculating the market value, the total market value of fund assets is obtained by calculating and summing up each asset.
Because the market price of stocks and other stocks has gone up and down, it is constantly changing every day, so we must recalculate the net asset value of the fund every day to reflect the investment value of the fund in time. However, in real-time (daytime), because the actual value cannot be obtained, the net value can only be estimated.
Generally speaking, our intraday real-time net worth is mostly estimated according to the awkward stocks published in the recent quarterly or annual reports, the past performance of the fund, and the ups and downs of the market that day. However, the announced position is different from the actual position, because the fund manager will change the position and exchange shares according to the change of index trend and investment strategy. The longer the time from the last quarterly report, the less accurate the calculation of intra-day net value.
Therefore, the estimated data does not represent the real net value, and can only be used as a reference. For example, if you subscribe for a fund before May 16 15: 00, the subscription price is 16, and the unit net value will not be seen until after 15:00 or even the next morning, so when you buy it, you can refer to the real-time forecast chart in the day, at least you can know the size of the estimated net value and the actual net value yesterday.
Unlike the estimate of net worth, it is the real net worth. The real net value refers to the unit net value, which is generally announced after the market closes at 3 pm, and the time is not fixed, depending on the efficiency of the fund company.
2. Net unit value
The net value of fund unit refers to the market value of the fund divided by the total share of the fund, and the market value of the fund owned by each share is obtained. Obviously, the net unit value refers to the net asset value of each fund unit.
Fund unit net value = (total fund assets-fund liabilities) ÷ total fund shares.
Calculate the total assets of the fund according to the closing price of the securities market (stock market, bond market, etc.) on each trading day. ) invested by the fund. Deduct all costs and expenses of the fund on that day (including management fees, custody fees, transaction fees, etc.). ), get the net asset value of the fund on that day, and then divide it by the total fund share on that day, which is the unit net value.
But the premise is that only the subscription and redemption prices of open-end funds are determined by the net value of fund units, while the transaction prices of closed-end funds are determined by the market.
The role of unit net value:
1) Calculate the number of stocks bought:
2) Calculate the period profit and loss:
3) Calculate the sales amount:
3. Cumulative net value
The accumulated net value of the fund is the accumulation of daily increase and decrease since the establishment of the fund. The accumulated net value of the fund can be obtained by adding the latest net value of the fund unit with the total accumulated dividends of the unit fund.
If the unit net value reflects the current price of the fund, then the cumulative net value reflects the cumulative increase of the fund net value and the historical change of the fund net value.
Since the denomination of the fund is usually one yuan when it is established, the actual income of unit share since the establishment of the fund can be obtained by subtracting one yuan from the accumulated net value of the fund.
4. Recover net value
In addition to cash dividends, many people will choose dividends for reinvestment. What if the accumulated net value can't reflect the income from dividend reinvestment? At this time, it is the turn of the net worth to regain power.
The difference between the net value of reinstatement and the accumulated net value lies in the handling of dividends. Considering the dividend or split factors of the fund, calculate the historical net value of the fund without any dividend or split. The net value of reinstatement is to add dividends back to the net value of the unit and calculate compound interest as reinvestment.
Through a table, you can see the difference between these three net values more clearly:
If the market rises sharply after dividends, you can undoubtedly earn more by reinvesting dividends.
If the market plummets after dividends, it is certainly wiser to choose cash dividends and switch packages for safety.
To sum up, the unit net value is the transaction price of the fund, and the cumulative net value and the weighted net value are to fairly compare the historical performance of the fund, restore the true face of the historical growth rate of the fund, and help investors choose the fund.
5, the use of various indicators of misunderstanding or tips
Because the total assets and total shares are variable, the net value of fund units changes every day, either high or low.
At the beginning of its establishment, the net value of fund shares was generally 1 yuan/share. With the passage of time, the net value of some fund shares increased and the net value of some fund shares decreased.
After the fund is divided or divided, the net value of the fund unit decreases.
Buying a fund does not mean that the higher the unit net value, the better, but also depends on the accumulated net value of the fund and the time of establishment. The current net position of the Fund is only a reflection of the historical performance of the Fund and does not represent the future performance of the Fund.
The higher the cumulative net value of the two funds established at the same time, the better, indicating that this fund has better profitability.
In the actual purchase and selection of funds, it is necessary to comprehensively consider all the indicators of a fund. Fund unit net value, cumulative net value and reinstatement net value can only reflect one aspect of a fund, and they are also analyzed in detail in actual selection.