Seven years of annualized rate of returnIs the average return on the average return of the Fund for the last seven days. E.gBalanceThe seven-day annualized yield was 5.5440%
, And assuming that the balance of the next year's earnings situation can maintain the same seven days before the same level, then hold a year can get 5.5440% overall income.
The seven-year rate of return can only be seen as a short-term indicator, which can refer to the near-term profitability, but can not fully represent the actual annual income of the fund, the income will fluctuate by the investment market fluctuations. The seven-year annual rate of return is available to investors in terms of capital gains and other investment products.
1, reflect the level of indicators
Usually reflects the money market fund yield has two indicators: First, the 7th annualized rate of return; the second is the income per million units of funds.
As a short-term indicator, the 7th annualized rate of return is only the fund's earnings level for the past seven days, and does not mean future earnings levels. Investors really want to care about is the second indicator, that is, every million units of unit income. The higher the index, the higher the real return on investors.
2, the formula
In the different proceeds of the carry forward, the seven-year yield calculation formula should also be different.
At present, there are two ways to carry forward the money market funds:
First, "daily dividends, monthly carry forward", the equivalent of daily profit, month compound interest.
Second, "daily dividends, according to Japan carry forward", the equivalent of daily compound interest.
The formula for calculating the single profit is: (ΣRi / 7) × 365/10000 parts × 100%
Compounding formula is: (ΣRi / 10000 copies) 365/7 × 100%.
Where Ri is the tens of millions of gains for the most recent i calendar day (i = 1,2 ... .7)
The fund's seven-year yield is rounded to retain three decimal places.
Some countries' regulators have a strict formula for the seven-year interest rate: if the value of a monetary fund before the start of the first day of trading is A, the value after the seventh day of trading is B, the seven-day fee Is C (sometimes, such as the balance of treasure, etc., according to the situation in 2014/3/15, C = 0).
The seven-year annualized income is calculated as (B-A-C) / A / 7 * 365 * 100%.
For example, a currency fund on March 1 before the opening of each value of 100 yuan (that is, A = 100), to March 7 after the closing of each value of 101 yuan (that is, B = 101), the seven days to buy and redeem Back there is no cost (that is, C = 0). Then the fund's seven-year interest rate is (101-100-0) / 100/7 * 365 * 100%
3, related news
Expert analysis, the seven-year rate of return is the past seven days of the net income per million copies of the total after the annual processing, the seven-year rate of return as a mean indicator can only reflect the past seven days of the general floating. A product short-term seven-day annualized rate of return is high, may mean that the investment manager's operating style is more radical, the user's daily income is often a bit like a roller coaster, the average user is stable high yield is king.
The larger the size of the money fund in the investment of the greater the right to speak, the proceeds will be higher. But some money funds use "regular products" or "their own subsidies" to express high returns, but this high yield does not last.
Experts believe that compared to seven days of annual income, consumersFinancial managementShould pay more attention to the net income per million copies or the total value of millions of revenue. Day income, which is the day the actual hand of the proceeds; and 7-year annualized rate of return is nearly 7 days of the proceeds of the past rate of return to the annual rate of return, not the real rate of return every day. Investors in the view of product revenue, more attention should be focused on long-term performance stability.
In addition, investors in the selection of products, should be comprehensive comparison, including earnings, than the stability, than the purchase threshold, than to mention flexibility, than the use of scenes and other conditions. A product of good and bad, in fact, is a comprehensive competition.