Basic Overview
is called the subscription; transactions during the existence of the establishment of the Fund, the Fund is in the open state of the subscription period, apply to the fund to buy fund shares, called the to purchase; during the existence of the establishment of the Fund, the Fund is open during the period, the fund will sell shares they hold fund companies to obtain cash transactions, is called redemption.
So, because of the open-end fund is not listed on the stock exchange, according to what the transaction price to buy or sell fund shares (subscription or redemption) it? The sale price of fund shares is to open-end fund net asset value of the fund shares corresponding to, that is, fund shares as the basis for calculation. However, due to the purchase or redemption of the day, used to calculate or sell fund shares based on the obtained amount of fund shares is the stock exchange of the day. However, the net can not be calculated in the same day, you must wait until after the close of the stock market, to be calculated. Only until the next day to announce the last trading day of fund shares. Therefore, the purchase or redemption of fund shares trading price of the day, it is impossible to know. Fund value investors see in the day of the sale transaction is the sale of the trading day calculated on the basis of the applicable rather than calculated on the basis of the date of the sale. In this way, investors do not know the date of the sale of Amount Number of shares they can buy or sell, only be calculated based on the net fund shares released the next day, investors can. This calculation method is called "unknown price method." Our calculation method used is the "unknown price method."
This entry is to discuss issues related to the net value of fund shares and create and edit entries. Here are definitions of fund shares.
Basic definitions
fund shares, refers to the daily net assets of the Fund is calculated by dividing the calculated value of the fund shares resulting share of the fund balance date.
fund shares, also known as the net value of fund shares assets refer to the date of application of each fund share transaction price. For example, to redeem its redemption price is the net value of fund shares at the date of application of the calculation basis.
correlation
To understand the relationship between the net value of fund shares and the total net value of fund shares, you must first know what is the total net value of fund shares. So, what is the total net value of fund shares it? The following definition is given:
fund shares the accumulated value refers to fund shares and the previous accumulated value and dividends.
formula
fund shares
fund shares = (total fund assets - Fund total liabilities) / fund share of the total (1)
among them, the Fund's total assets are all assets owned by the fund (including all types of securities, principal and interest on bank deposits and other investments in stocks, bonds, etc.) of total assets;
when fund liabilities total liabilities refers to the operation of the Fund and financing formed (including fees payable to others, to cope with financial interest, etc.);
means that the Fund's total share of the fund was outstanding the total number of shares.
fund shares total net
fund shares total net value = fund shares + previous bonus integrated value (2)
Example < / h2>
For example, a fund, a total dividend after the second, the first time dividend of $ 0.50 / parts; second dividend 0.3 yuan / parts; fund shares is 1.2 yuan / parts, then: < / p>
total net fund shares = 1.2 yuan / RMB +0.5 parts / parts +0.3 yuan / = 2.0 yuan / parts.