basic concept
The net value of a fund unit is the net asset value of each fund unit, which is equal to the balance of the total assets of the fund minus the total liabilities and then divided by the total number of unit shares issued by the fund. The subscription and redemption of open-end funds are carried out at this price. The transaction price of closed-end funds is the known market price at the time of trading; On the other hand, the unit transaction price of the open-end fund depends on the net asset value of the unit fund, which is unknown at the time of subscription and redemption (but it can be calculated after the market closes on the same day and announced on the next trading day).
Announcement time
The Measures for the Administration of Information Disclosure of Securities Investment Funds have different requirements for the publication time of the net value of different types of fund products.
1) The fund manager shall publish the net asset value and the net fund share value on the next day of the last market trading day of the semi-annual and annual period, and publish the net asset value, the net fund share value and the accumulated net fund share value in the designated newspapers and websites.
2) For closed-end funds, the fund manager shall announce the net asset value and net share value of the fund at least once a week.
3) For open-end funds, the fund manager shall announce the net asset value and net fund share value at least once a week after the fund contract comes into effect and before the fund share purchase or redemption.
4) After the open-end fund is open for subscription and redemption, the fund manager shall disclose the net value of fund shares and the accumulated net value of fund shares on the second day of each open day through websites, fund share selling outlets and other media.
Calculation method
The net fund value refers to the net fund assets represented by each fund unit, and the calculation formula is:
Net asset value of fund units = (total assets-total liabilities)/total number of fund units
The cumulative net value of the fund refers to the sum of the net value and dividend performance since the establishment of the fund, which reflects the cumulative expected annualized expected income obtained since the establishment of the fund (minus the face value of one yuan is the actual expected annualized expected income), which can reflect the historical performance of the fund in the operation process more intuitively and comprehensively. Combined with the operation time of the fund, it can more accurately reflect the real performance level of the fund.
Cumulative net value of fund share = net value of fund share+cumulative dividend amount of fund share after establishment.
For example, a fund once paid dividends, and every 10, it paid dividends to 0.2 yuan. If the net value of fund shares announced on that day is 1.02 yuan, the cumulative net value of fund shares is1.02+(0.2/10) =1.04 yuan.