The question of fund returns, will the fund s returns continue to generate income?

**The net value is the same as the share price. There are ups and downs. We all know this.

Regular investment is not like a one-time purchase**. I think you understand that, too.

Like what. A year of time. A ** from 1 yuan. By the end of the year, it was up 12%.The net value at the end of the year is a one-time ** 5,000 yuan at the beginning of the year. Your share is 5000(For the sake of understanding, we exclude the handling fee).

By the end of the year you sold it. That's 5000

You've got $600 in earnings. That's a 12% gain

Now let's talk about regular investment.

You're fixed every month**. This is easy to understand.

But the market is changing. For example, the net value of the first month is 1 yuan.

The second month may be yuan.

In the third month, it may fall to the dollar.

The third month. Fourth month.

Twelfth month.

In this way, it is also a 12% income in a year.

However, you are in ** every month. At the same time, each month's ** is different.

In this way, you spend the same amount of money every month and buy an unequal amount of **.

You can buy 5000 in the first month

I can buy 4950 in the second month

I can buy 5555 in the third month

In the twelfth month, you can buy 4464

If you only look at the net worth, there is a 12% return. By the end of the year you sell the words.

Those shares in the first month can be sold for a profit of 12%. But the following months are different because of the ups and downs.

Your earnings will not be the same. By the twelfth month to buy those shares. The profit is 0.

If it is convenient to understand. If it goes up 1% every month.

You buy less and less every month. Profits are getting smaller and smaller.

12 in the first month 11 in the second monthThe third month 10....Twelfth month 0...

I don't know if you can understand it?

Let's assume that the annualized returns are % over a three-year period

then the three-year income is in order.

Total 33600

If the total principal for three years is 5,000*36=180,000, the total principal and interest for three years is 213,600 yuan.

There will be an estimated net value every day, also known as valuation, which is based on the quarterly report of **, which is measured by the heavy stock and its holding ratio announced in the quarterly report.

For example, we are now at the beginning of September, and the quarterly report is actually a record of a ** position at the end of June, which actually has a time difference, and two months have passed, and many ** managers have adjusted his positions, that is, its position has been very different from the quarterly report announced, so there will be inaccurate valuation.

And the greater the difference between the valuation and the actual net value, the greater the magnitude of the manager's rebalancing, of course, there will be two results, one is to adjust well, then the net value will be more ideal than the valuation, but there is also a situation that the net value is lower than the valuation, then in fact, we have to carefully analyze, it may be because of the industry, some of its subdivisions of the track will have some adjustments or have a rotation, we can't generalize that this kind of rebalancing is wrong.

Overall, we need to be patient. Therefore, we have to look at the difference between valuation and net worth correctly, and quietly wait for the release of the next quarterly report, so that at that time, maybe there will be an improvement in the accuracy of the entire valuation.

However, on the whole, we still need to trust the ** manager, if his past performance is no problem, his ability is not a problem, we can rest assured, we do not need to pay close attention to the change in valuation every day and affect our mood.

First, the purchase time is the peak stage of the net value of the **open period, so as long as the cumulative income does not exceed the peak, the loss will be displayed; The second is that during the redemption period, 1% of the handling fee was charged, which is a very huge cost, resulting in even if the cumulative income exceeds the highest peak, it is still difficult to make up for the cost of the handling fee charged, so it shows a loss. In fact, taking into account the opportunity cost and time value, this kind of closed fixed opening**, the yield does not exceed 3-year time deposits, treasury bonds, or currency**, which is regarded as a loss. Therefore, the published yield does not reflect the actual return at all.

In addition, the calculation mode of the rate of return will also lead to inconsistencies in the rate of return.

It's very simple, one is that the subscription and redemption are subject to a handling fee, which is directly deducted from the total net value, and the other is the dividend, and the dividend date and the dividend date are not the same day.

The daily real-time income is just the valuation, and the valuation of each trading platform is not the same, only the statistics after the end of the trading hours at 3 p.m. are real, so it is normal for the daily income to be inconsistent with the actual return.

The actual income is because it includes the current income and the income from the previous dividends, and the income you hold is only the total income of the part that you have not received dividends or redeemed parts.

**Why is the cumulative return different from the holding income?

It should be the same, but you still have the subscription fee in it, which is actually the same.

The net value growth rate that does not affect the final return of **. Regardless of the level of net worth, it is the change in the growth rate of net worth that determines our investment income, not the level of net worth. Theoretically, there is no ceiling to net worth.

This is because the level of the Zen practitioner's history of the net worth is not directly correlated with the space of ** or **, but is related to the performance of the position portfolio of **.

The value of different **As long as the performance of managers and investment teams is stable, those high-net-worth individuals may still show potential. The so-called "value" is not the same between different companies, investment research teams, managers, customer service and so on.

In essence, the purchase of ** He Sou still depends on whether the investment style of ** meets its own needs, and the risk-return characteristics of ** should match their investment goals.

Investment is an important choice for investors in the modern investor market, the expected return is the main goal in the investment process, in the investment process, some investors have obtained considerable income, but some investors have encountered such a problem: **How to expect zero returns when it has risen? Don't worry, let's talk to you today about the possible reasons for this situation.

**How can I expect the return to be zero even if it has risen significantly?

Regarding the situation that ** has risen but the expected return is zero, I found the following four situations and see which category I belong to.

1. Distinguish between the increase in ** and the increase in expected returns.

The increase does not fully represent the expected earnings increase, and the increase represents the net value.

and the expected return compares the holding cost with the profit and loss of the net expected return now. So the first reason is that the increase is up, but the net expected return is not profitable.

2. The handling fee is too high.

According to the above, ** has risen, but due to the deduction of various handling fees, the net expected income of Songyou Yu has not changed the number of handling fees.

3. It is related to the amount of investment.

If the investor's investment amount is too small, even if the net expected return increases, the expected return does not change enough to cause the expected return to be zero and unchanged.

4. The operation of converting dividends to principal may have been carried out.

Some third-party sales platforms, such as Alipay, will transfer the expected income from dividends to the principal, which will show that there is no expected return.

5. Special circumstances.

If the expected income of the system has not been updated on the day, or there is an error in the system, in this case, you can conduct manual consultation.

The above is about how the expected income is zero when it rises, and I will talk to you about it here, for reference only, I hope it will help you. Warm reminder, financial management is risky, and you need to be cautious when investing in wild rock capital.

** Earnings generate revenue. The income is reflected in the net value, after the net value, the net value change of the next trading day is based on the net value of the previous trading day, so the income of the income will produce income, just like the **.

Earnings are the part of an asset that exceeds its value in the course of its operation. Specifically, income includes, dividends, interest on bonds, bid-ask spreads, interest on deposits, and other income from investments.

There are realized and unrealized gains, take ** as an example, **market value fluctuations are unrealized gains, and selling ** is realized gains. The realized gains can be converted into new assets that will generate new income.

1. The manager's ability: The manager's professional ability determines the degree of optimization of his investment strategy, which will affect the subsequent operation and profitability.

Second, the market changes: no matter what to invest, its investment objectives are the most basic factors to be affected by the leakage, when the market of the investment target fluctuates greatly, it will affect the income, and even losses may occur.

3. Influence of policy factors: Investors need to pay attention to the updates and changes of market policies at all times. The introduction of a policy will cause a lot of chain reactions, or major incidents, which need to be paid attention to.

Extended Materials

1.Beta Earnings (Market Returns).

We can think of beta as a passive investment income, which is the return brought by taking market risk, representing the average return of the market.

Beta returns are relatively easy to obtain, for example, by allocating to an exponential type to keep up with the pace of the market.

For the average investor, if you only want to get the average return of the market, you can allocate a broad-based index** to keep up with the pace of the market.

The operation of the index does not depend on the manager's ability to select stocks, and the rate is relatively low, generally above 90%, and it will not take the initiative to reduce positions when the market is in the market.

2.Alpha (excess returns).

Alpha is the difference between the actual return and beta return, which is the part of the investment income that exceeds the market return.

Alpha returns mainly depend on the active management ability of the manager, and the requirements for the manager's stock selection and timing ability are relatively high.

If the performance of a ** in a certain period of time greatly exceeds the market average, it means that the investment management ability of the ** manager in that period is more prominent.

If you want to get excess returns that exceed the market, you need to choose some excellent active management**.

For these**, the greater the ability to outperform the benchmark index, the greater its alpha contribution will be.

Therefore, data that goes beyond the benchmark can be used as an important reference when selecting active management**.

Generally speaking, in the unilateral or general rise of the market, the index is more aggressive; In the market or structure, the active management type with obvious income is more likely to break through. You can choose according to your risk tolerance and investment preferences.

So knowing that we are making money, why we are not making money when we make money, it is related to the amount of money we invest and the operation. Some ** look at the historical trend, the income is very good, but if you invest in the historical return, you may buy at a high point, and then if the performance deteriorates, you will lose money.

The generation of income refers to the fact that the company uses the funds invested by investors to buy and sell Liang Mao's investment, and the investment will have a certain income, and the income will be distributed to investors according to the proportion of investors' shareholdings, that is, the income of investment, which belongs to the part of asset appreciation, not interest. The scope of investment is wide, usually there are **, debt, bank deposits, etc. For example, those who are investing in the market can get dividends or cash dividends, or Li Chang can earn the difference by buying and selling.

How to improve the income of the first 1, long-term investment: in the case of sufficient investment funds, long-term investment is likely to obtain high returns. It can also effectively avoid the risk of short-term fluctuations, and most of the open-ended ** are medium and long-term investment tools.

Short-term ups and downs may increase investment risks, and frequent operations will increase handling fees.

2. Subscribe at the low point and redeem at the high point: Generally speaking, bear market investment tends to have a high return on the bull market, that is, when it is good, it is sold when it is bad.