Net fund value
Net fund value, also known as the net value of fund units, 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 purchase and redemption of open-end funds are carried out at this price. In other words, the net value of the fund is equivalent to the price of the fund. This price is the price calculated by the fund company according to the actual position data.
Fund valuation refers to the process of calculating and evaluating the value of fund assets and liabilities according to the fair price, so as to determine the net value of fund assets and the net value of fund shares. In other words, the fund valuation is based on the price estimated by previous data, which can be the fund website or some financial software. When we open the fund platform to view the details page of a fund, we can see the fund valuation of the day or the previous day. Generally speaking, the fund valuation is a forecast, predicting the net value of the fund announced tonight. In addition, as for what is fund valuation, we should also understand that fund valuation and fund net worth are subject to change at any time according to market conditions.
One is the price calculated according to the actual data, and the other is the price estimated based on the previous data. There will be a certain gap between the two periods. Generally, there are three reasons for this gap
Proportion of heavy positions
We take Tiantian fund platform as an example. In the fund position, the proportion of the fund's top ten heavy positions is floating. The net value of Tiantian fund platform is calculated according to the rise and fall range of the top ten heavy positions and the index. The rise and fall of stocks other than the top ten stocks are not included. Therefore, it will lead to certain deviation. The higher the proportion of the top ten heavy positions, the higher the proportion of the top ten stocks, The smaller the deviation, on the contrary, the smaller the proportion, the greater the deviation.
Timeliness of fund reports
The publication time of the fund report is to be published within a limited period of time, but to be disclosed in real time on a certain day. For example, 1. Fund Quarterly Report: the fund manager shall, within 15 working days from the end of each quarter, prepare and publish the quarterly report on the designated newspapers and websites. 2. Semi annual report of the Fund: the fund manager shall, within 60 days from the end of the first half of the year, complete the semi annual report of the fund, publish the main body of the semi annual report on the website, and publish the summary of the semi annual report on the designated newspapers and periodicals. 3. Annual report of the Fund: the fund manager shall complete the annual report of the fund within 90 days from the end of each year. Therefore, there is an obvious lag. During this period, fund managers may have adjusted their positions, so there will be differences in calculation, and the longer the time from disclosure, the greater the difference will be.
Introduction of new funds
If a fund enters more funds in the short term, the allocation proportion of equity assets will be reduced passively, and the estimated value will also deviate from the net value.