| Full text of information |
The Fund Agreement came into effect on August 29, 2014.
Important tips
The investment is risky, and investors should carefully read the prospectus when subscribing for the fund.
The Fund is a bond fund, which belongs to the lower risk fund category of securities investment funds. Its long-term risk return characteristics are higher than those of money market funds, and lower than those of equity funds and hybrid funds.
The past performance of the Fund does not predict its future performance.
This summary is prepared in accordance with the fund contract and the fund prospectus, and has been approved by the CSRC. A fund contract is a legal document that stipulates the rights and obligations between the fund parties. When a fund investor acquires fund shares in accordance with the fund contract, he or she becomes a fund share holder and a party to the fund contract. His or her holding of fund shares itself indicates his or her recognition and acceptance of the fund contract, and he or she enjoys rights and assumes obligations in accordance with the Fund Law, the Operating Measures, the fund contract and other relevant provisions. If the fund investor wants to know the rights and obligations of the fund share holder, he should consult the fund contract in detail.
The deadline for the contents contained in this Prospectus is February 29, 2016, and the deadline for relevant financial data and net worth performance is December 31, 2015 (the financial data is unaudited).
1、 Fund manager
（1） Overview of the Fund Manager
The Fund Manager is China Overseas Fund Management Co., Ltd., and the basic information is as follows:
Name: China Shipping Fund Management Co., Ltd
Address: Room 2905-2908 and 30/F, No. 68, Yincheng Middle Road, Pudong New Area, Shanghai
Office address: Room 2905-2908 and 30/F, No. 68, Yincheng Middle Road, Pudong New Area, Shanghai
Postal code: 200120
Date of establishment: March 18, 2004
Legal representative: Huang Peng
General Manager: Huang Peng
Business scope: fund raising, fund sales, asset management and other businesses permitted by the CSRC (those involving administrative licensing shall be operated with licenses).
Approved by: China Securities Regulatory Commission
Approval No. of establishment: Zheng Jian Ji Jin Zi [2004] No. 24
Organizational form: limited liability company (Sino foreign joint venture)
Registered capital: One hundred and forty-six million six hundred and sixty-six thousand seven hundred yuan
Duration: continuous operation
Contact: Lan Rong
Tel: 021-38429808
Name of shareholders and their proportion of capital contribution:
China Shipping Trust Co., Ltd. 41.591%
Guolian Securities Co., Ltd. 33.409%
France Edmund Rochelle Bank Co., Ltd. 25.000%
（2） Key personnel
1. Board members
Mr. Huang Xiaofeng, Chairman of the Board. Master of Renmin University of China, senior economist. He is now the president and secretary of the Party Committee of China Shipping Trust Co., Ltd. He has successively served as the teaching assistant of Hubei Planning Management Cadre College, the chief staff member of the Management Department of the State Oceanic Administration, the cadres of the Planning Project Department and the Economic Evaluation Department of CNOOC, the insurance director of the insurance department, the tax insurance post and the agent financing post manager of CNOOC Limited, the deputy director, the agent director and the director of the fund department, and the general manager of CNOOC Finance Co., Ltd.
Mr. Pang Jian, Director. Bachelor degree from Renmin University of China, senior accountant. He is now the General Manager of the Fund Department of China National Offshore Oil Corporation. He has successively served as the foreign affairs accountant of the Planning and Finance Department of the Foreign Cooperation Department of Bohai Oil Company, the financial professional representative of the Joint Management Committee of Bohai 13/03 Cooperation Zone, the financial professional representative of the Joint Management Committee of Bohai 10/15, 11/19 and 06/17 Cooperation Zone, the cadre of the Audit Department of CNOOC, the cadre of the Third Business Department of CNOOC Accounting and Audit Company, and the manager of the Third Audit Business Department (deputy department level), Director of the Third Audit Division of the Audit Department of CNOOC, Project Audit Manager, Investment Project Audit and Investigation Manager and Internal Audit Manager of the Audit and Supervision Department, General Manager of the Audit and Supervision Department of CNOOC Limited, Deputy General Manager of the Audit and Supervision Department and Director of the Audit Center of CNOOC (Limited), and Deputy General Manager of CNOOC International Limited.
Mr. Huang Peng, director. Master of Fudan University. He is currently the General Manager of China Shipping Fund Management Co., Ltd. and Chairman of China Shipping Hengxin Asset Management (Shanghai) Co., Ltd. He has successively served as the Sales Manager of Shanghai New Changning (Group) Co., Ltd., the Secretary of the President of Dalian Branch of Shanghai Pudong Development Bank Co., Ltd., the Assistant Manager of the General Management Department, the Manager of the Investment Management Department and the member of the Risk Control Committee of China Shipping Trust Co., Ltd., the Secretary of the Board of Directors, the Assistant General Manager and the General Manager of the Marketing Center of China Shipping Fund Management Co., Ltd.
Mr. Peng Yanbao, Director. Bachelor of Tsinghua University. He is now the Vice President of Guolian Securities Co., Ltd. He has successively served as a trader, investment manager, deputy general manager of the investment department of Guolian Securities Co., Ltd. (formerly Wuxi Securities), general manager of the investment department of Guolian Investment Management Co., Ltd., investment director of China Shipping Fund Management Co., Ltd. (during which he also served as the fund manager of China Shipping Quality Growth Securities Investment Fund), general manager and risk control director of the risk management department, Vice President and General Manager of Securities Investment Department of Guolian Securities Co., Ltd.
Mr. Jiang Zhiqiang, director. Master of Southeast University. He is now the Vice President of Guolian Securities Co., Ltd. He has successively served as a trader of Guolian Securities Co., Ltd. (formerly Wuxi Securities) Shanghai Hailun Road Securities Business Department, investment supervisor of Securities Investment Department, deputy general manager and general manager of Shanghai Handan Road Securities Business Department, general manager of Wuxi County Qiandong Street Securities Business Department, general manager of Wuxi Renmin East Road Securities Business Department, general manager of Wealth Management Center, general manager of Wuxi Huaxia South Road Securities Business Department Assistant to President and General Manager of Asset Management Department, Vice President and General Manager of Asset Management Department.
Mr. TAY SOO MENG (Zheng Shuming), director. Singapore nationality. Bachelor of Science, National University of Singapore. He is currently the Marketing Director of Edmund Rothschild Asset Management (Hong Kong) Co., Ltd. He has successively served as the auditor of Coopers&Lybrand in Singapore, the head of the administrative and financial departments, the managing director and chief operating officer of Societe Generale Asset Management Group (Asia Pacific region, excluding Japan), the managing director and chief executive of Societe Generale Asset Management Singapore, and the marketing director of Edmund Rochelle Bank Asia Limited.
Mr. Chen Daofu, independent director. Master of Financial Research Institute of the People's Bank of China. He is now the director of the Comprehensive Research Office of the Institute of Finance of the Development Research Center of the State Council. He was once the assistant to the president of Zhongguancun Securities Company.
Mr. WEIDONG WANG, independent director. American nationality. Doctor of the University of Chicago. He is currently a partner of American Dejie Law Firm. He has successively served as Sidley Austin's Chicago headquarters lawyer, visiting professor of the International MBA Program of the National Development Research Institute of Peking University, and partner of Beijing Deheng Law Firm.
Mr. Zhang Jun, independent director. Doctor of Fudan University. He is currently the Dean of School of Economics of Fudan University, Director of China Economic Research Center, Distinguished Professor of Changjiang Scholar of "Contemporary China Economy" of Fudan University, Vice Dean of Fudan Development Research Institute, and doctoral supervisor.
2. Members of the Board of Supervisors
Ms. Zhang Yue, Chairman of the Board of Supervisors. Master, senior accountant. He is currently the Deputy Secretary of the Commission for Discipline Inspection, the General Auditor and Compliance Director, and the General Manager of the Trust Affairs Management Headquarters of CNOOC Trust Co., Ltd. He has successively served as the Deputy Manager of the Trading Department of Beijing Petroleum Exchange, the accountant of the Planning and Finance Department and the enterprise management post of the Enterprise Management Department of CNOOC East China Sea Company, the manager of the Planning and Finance Department of the Pinghu Production Project of CNOOC, the post manager of the Planning and Finance Department of CNOOC Shanghai Branch, the accountant of the Planning and Finance Department, the manager of the Planning and Finance Department and the manager of the Audit Department of CNOOC Trust Co., Ltd.
Mr. Denis LeFRANC (Lu Yunfei), supervisor. French nationality. Bachelor. He is currently the Executive Director of Edmund Rothschild Asset Management (Hong Kong) Co., Ltd. He has successively served as auditor of the French Futures Market Regulatory Commission, legal adviser of Societe Generale, deputy head of legal department of capital market and asset management, legal compliance supervisor and legal adviser of Societe Generale Asset Management Group, executive vice president of Huabao Societe Generale Fund Management Co., Ltd., and CEO of Asia Pacific Region of Societe Generale Asset Management Group, Deputy Executive Director of North Asia of Credit Agricole Asset Management Hong Kong Co., Ltd. and Deputy Executive Director of Asia of Edmund Rothschild Asia Co., Ltd.
Mr. Kang Tiexiang, employee supervisor. Doctor. He is now the general manager of the risk control audit department of China Overseas Fund Management Co., Ltd. He has successively served as a member of the financial department of Shandong Zhaoyuan Embroidery Factory, a member of the foreign exchange business department of Shanghai Pudong Development Bank, an assistant risk control manager and risk control manager of the risk management department of China Overseas Fund Management Co., Ltd., an assistant to the general manager of the risk management department, and a general manager and risk control director of the risk management department.
Mr. Zhang Qi, employee supervisor. Bachelor. He is now the General Manager of Information Technology Department of China Overseas Fund Management Co., Ltd. He has successively served as the manager of the technology department of Shenyang Lianzheng Technology Co., Ltd., the manager of the network department of Beijing Zhida Saidu Technology Co., Ltd., the manager of the technical support department of Shanghai Zhida Information Industry Co., Ltd., the engineer of the information technology department, the assistant to the general manager of the information technology department, and the deputy general manager of the information technology department of China Overseas Fund Management Co., Ltd.
3. Senior management
Mr. Huang Peng, General Manager. Master of Finance, Fudan University. He has successively served as Sales Manager of Shanghai New Changning (Group) Co., Ltd., President Secretary of Dalian Branch of Shanghai Pudong Development Bank Co., Ltd., Manager Assistant of General Management Department, Manager of Investment Management Department and member of Risk Control Committee of China Shipping Trust Co., Ltd. He joined the company in October 2007 and served as the secretary of the board of directors, assistant to the general manager and general manager of the marketing center. He has been the general manager of the company since October 2011, director of the company since February 2013, and chairman of the board of directors of Zhonghai Hengxin Asset Management (Shanghai) Co., Ltd. since July 2013.
Mr. Song Yu, Executive Deputy General Manager. Bachelor of Science and Statistics, Fudan University, economist. He has successively served as Secretary of Wuxi Municipal Bureau of Statistics, Deputy Manager of Business Department, Deputy Manager of Issuance Research Department, Office Director and General Manager of Research and Development Department of Guolian Securities Co., Ltd. He joined the company in March 2004 and has successively served as the chief inspector and deputy general manager of the company (during the period from January 2011 to October 2011, he also served as the acting general manager of the company, and from May 2014 to October 2014, he also served as the acting chief inspector of the company), and has served as the executive deputy general manager of the company since April 2015.
Ms. Wang Li, Inspector General. Bachelor of International Economic Law, East China University of Political Science and Law. He has successively served as a translator in the Research Department of BOC International Securities Co., Ltd. and a lawyer assistant in Shanghai Yuantai Law Firm. He joined the company in September 2006 and successively served as the supervision and audit manager of the supervision and audit department, the department head of the supervision and audit department, the chief inspector and general manager of the supervision and audit department and the person in charge of information disclosure. Since May 2015, he has been the chief inspector and the person in charge of information disclosure of the Company.
4. Fund Manager
Mr. Jiang Xiaozhen holds a master's degree in finance from Fudan University. He has successively served as the investment manager of Changjiang Securities Co., Ltd., department manager of Zhongwei Asset Management Co., Ltd., investment department manager of Tian An Life Insurance Co., Ltd. (formerly known as Hengkang Tian An Insurance Co., Ltd.), and senior manager of Pacific Asset Management Co., Ltd. He joined the company in November 2009 and has successively served as the head of the fixed income team, deputy director of the fixed income department, and now is the general manager of the fixed income department. From July 2010 to October 2012, he served as the fund manager of China Shipping Money Market Securities Investment Fund; from March 2011 to now, he has served as the fund manager of China Shipping Enhanced Yield Bond Securities Investment Fund; from January 2013 to now, he has served as the fund manager of China Shipping Huiyu Pure Bond Sponsored Securities Investment Fund (LOF); from March 2014 to now, he has served as the fund manager of China Shipping Convertible Bond Securities Investment Fund, Since August 2014, he has been the fund manager of China Shipping Huixiang graded bond securities investment fund, and since February 2016, he has been the fund manager of China Shipping Zhongxin flexible allocation hybrid securities investment fund.
5. Successive fund managers
The Fund Contract of the Fund came into effect on August 29, 2014. The following table shows the previous fund managers:
Name of fund manager Time of managing the fund
Jiang Xiaozhen August 29, 2014 - present
6. Members of the Investment Decision making Committee
Mr. Huang Peng, Chairman. He is currently the director and general manager of China Overseas Fund Management Co., Ltd.
Mr. Xia Chunhui, member of the committee. He is now the Deputy General Manager, Chief Strategic Analyst and Fund Manager of the Investment Research Center of China Overseas Fund Management Co., Ltd.
Ms. Xu Dingqing, member of the committee. Currently, he is acting as the chief investment officer, deputy chief investment officer and fund manager of China Overseas Fund Management Co., Ltd.
Mr. Jiang Xiaozhen, member of the committee. He is now the general manager and fund manager of the fixed income department of China Overseas Fund Management Co., Ltd.
7. None of the above personnel has close relatives.
2、 Fund Custodian (I) Information of Fund Custodian
1. Basic information
Name: Agricultural Bank of China Limited (hereinafter referred to as Agricultural Bank of China)
Domicile: No. 69, Jianguomen Inner Street, Dongcheng District, Beijing
Office address: East Block, Kaichen World Trade Center, 28 Fuxingmennei Street, Xicheng District, Beijing
Legal representative: Liu Shiyu
Date of establishment: January 15, 2009
Approval authority and approval document number: CBRC YJF [2009] No. 13
Approval No. of fund custody business: ZJJZ [1998] No. 23 of China Securities Regulatory Commission
Registered capital: 32479411700 yuan
Duration: continuous operation
Tel: 010-66060069
Fax: 010-68121816
Contact: Lin Ge
Agricultural Bank of China Limited is an important part of China's financial system. Its head office is located in Beijing. With the approval of the State Council, Agricultural Bank of China was restructured into Agricultural Bank of China Co., Ltd. and was established in accordance with the law on January 15, 2009. Agricultural Bank of China Limited inherits all assets, liabilities, businesses, institutional outlets and employees of the original Agricultural Bank of China. Agricultural Bank of China has outlets all over China's urban and rural areas, becoming one of the largest state-owned commercial banks with the largest number of outlets, the widest business radiation range, the widest service field, the largest number of service objects, and complete business functions in China. Overseas, Agricultural Bank of China has also won a good reputation through its own efforts, ranking among Fortune Global 500 enterprises every year. As a large state-owned commercial bank with both urban and rural development, international connectivity and complete functions, Agricultural Bank of China has always adhered to the customer-centric business philosophy, adhered to prudent, steady operation and sustainable development, based on the two major markets of county and city, implemented differentiated competition strategy, focused on creating a "grow with you" service brand, and relied on branches The huge electronic network and diversified financial products are committed to providing customers with high-quality financial services, creating value and growing together with customers.
Agricultural Bank of China is one of the first domestic commercial banks to carry out custody business in China. It has rich experience, high-quality service and outstanding performance. In 2004, it was rated as China's "Best Custodian Bank" by the British Global Custodian. In 2007, Agricultural Bank of China passed the internal control audit of American SAS70 and obtained an unqualified SAS70 audit report, which shows that an independent and impartial third party fully recognized the risk management of the custody service operation process of Agricultural Bank of China and the soundness and effectiveness of internal control. Agricultural Bank of China made great efforts to strengthen capacity building, further improved its brand reputation, and achieved outstanding results in the first "Top 10 Award Ceremony of 'Gold Wealth Management'" in 2010, winning the "Best Custodian Bank" award. In 2010, he was awarded the "Best Asset Custody Award" again by CFO magazine.
The Securities Investment Fund Custody Department of the Agricultural Bank of China was established with the approval of the CSRC and the People's Bank of China in May 1998. In September 2004, it was renamed as the Custody Business Department, which consists of the Pension Management Center, the Technical Support Department, the Operation Center, the Entrusted Asset Custody Department, the Insurance Asset Custody Department, the Securities Investment Fund Custody Department, the Overseas Asset Custody Department, the General Management Department, and the Risk Management Department, It has advanced security facilities and fund custody business system.
3、 Relevant service agencies
（1） Fund unit sales agency
1. Direct selling mechanism
(1) China Shipping Fund Management Co., Ltd
Address: Room 2905-2908 and 30/F, No. 68, Yincheng Middle Road, Pudong New Area, Shanghai
Office address: Room 2905-2908 and 30/F, No. 68, Yincheng Middle Road, Pudong New Area, Shanghai
Legal representative: Huang Peng
Tel.: 021-68419518
Fax: 021-68419328
Contact: Zhou Ying
Customer service hotline: 400-888-9788 (toll free) or 021-38789788
Website: www.zhfund.com
(2) China Overseas Fund Management Co., Ltd. Beijing Branch
Domicile: F218, Building 1, No. 158, Fuxingmennei Street, Xicheng District, Beijing
Office address: F218, Building 1, No. 158, Fuxingmennei Street, Xicheng District, Beijing
Person in charge: Li Xiang
Tel.: 010-66493583
Fax: 010-66425292
Contact: Zou Yi
Customer service telephone: 400-888-9788 (toll free)
Company website: www.zhfund.com
2. Agency
(1) Agricultural Bank of China Limited
Domicile: No. 69, Jianguomen Inner Street, Dongcheng District, Beijing
Office address: Floor 9, East Block, Kaichen World Trade Center, No. 28, Fuxingmennei Street, Xicheng District, Beijing
Legal representative: Liu Shiyu
Fax: (010) 85109219
Contact: Jiang Hao
Customer service telephone: 95599
Website: www.abcchina.com
(2) Industrial and Commercial Bank of China Limited (only selling Class A shares on a commission basis)
Address: No. 55, Fuxingmennei Street, Xicheng District, Beijing
Office address: No. 55, Fuxingmennei Street, Xicheng District, Beijing
Legal representative: Jiang Jianqing
Contact: Yang Fei
Customer service telephone: 95588
Website: www.icbc.com.cn
(3) China Merchants Bank Co., Ltd
Address: No. 7088, Shennan Avenue, Futian District, Shenzhen
Office address: No. 7088, Shennan Avenue, Futian District, Shenzhen
Legal representative: Li Jianhong
Fax: 0755-83195049
Contact: Deng Jiongpeng
Customer service telephone: 95555
Website: www.cmbchina.com
(4) Ping An Bank Co., Ltd
Domicile: No. 5047, Shennan East Road, Shenzhen
Office address: 5047 Shennan East Road, Shenzhen, Guangdong
Legal representative: Sun Jianyi
Tel: 021-38637673
Fax: 021-50979507
Contact: Zhang Li
Customer service telephone: 95511-3
Website: www.bank.pingan.com
(5) Shanghai Pudong Development Bank Co., Ltd
Domicile: No. 12, Zhongshan East 1st Road, Shanghai
Office address: No. 12, Zhongshan East 1st Road, Shanghai
Legal representative: Ji Xiaohui
Tel.: 021 － 61616193
Fax: 021-63604196
Contact: Gao Tian, Yang Wenchuan
Customer service telephone: 95528
Website: www.spdb.com.cn
(6) Shanghai Rural Commercial Bank Co., Ltd
Domicile: 15-20/F, 22-27/F, No. 8, Yincheng Middle Road, Shanghai
Office address: 15-20/F, 22-27/F, No. 8, Yincheng Middle Road, Shanghai
Legal representative: Hu Pingxi
Contact: Shi Chuanrong
Tel.: (021) 38576666
Fax: (021) 50105124
Customer service telephone: (021) 962999
Company website: www.srcb.com
(7) Guolian Securities Co., Ltd
Domicile: 7-9/F, No. 8, Financial 1st Street, Taihu New Town, Wuxi City
Office address: 7-9/F, No. 8, Financial 1st Street, Taihu New Town, Wuxi
Legal representative: Yao Zhiyong
Tel.: 0510-82831662
Fax: 0510-82830162
Contact: Shen Gang
Customer service telephone: 95570
Website: www.glsc.com.cn
(8) China Galaxy Securities Co., Ltd
Address: Block C, International Enterprise Building, No. 35, Financial Street, Xicheng District, Beijing
Office address: Block C, International Enterprise Building, No. 35, Financial Street, Xicheng District, Beijing
Legal representative: Chen You'an
Tel.: 010-66568430
Fax: 010-66568990
Contact: Tian Wei
Customer service telephone: 4008-888-888
Website: www.chinastock.com.cn
(9) CSC Securities Co., Ltd
Address: Building 4, No. 66, Anli Road, Chaoyang District, Beijing
Office address: No. 188, Chaoyangmennei Street, Dongcheng District, Beijing
Legal representative: Wang Changqing
Contact: Quan Tang, Xu Mengyuan
Tel: 400-8888-108
Open ended fund consultation hotline: 400-8888-108
Open ended fund business fax: 010-65182261
Website: www.csc108.com
(10) Shenwan Hongyuan Securities Co., Ltd
Domicile: Floor 45, No. 989, Changle Road, Xuhui District, Shanghai
Office address: Floor 45, No. 989, Changle Road, Xuhui District, Shanghai
Legal representative: Li Mei
Tel.: 021-33389888
Fax: 021-33388224
Contact: Huang Ying
Customer service telephone: 95523 or 4008895523
Website: www.swhysc.com
(11) Soochow Securities Co., Ltd
Domicile: Floors 18-21, Business Travel Building, No. 181, Cuiyuan Road, Suzhou Industrial Park, Jiangsu Province
Office address: Floors 18-21, Business Travel Building, No. 181, Cuiyuan Road, Suzhou Industrial Park, Jiangsu Province
Legal representative: Fan Li
Tel.: 0512-65581136
Fax: 0512-65588021
Contact: Fang Xiaodan
Customer service hotline: 0512-33396288
Website: www.dwzq.com.cn
(12) Ping An Securities Co., Ltd
Address: Floor 8, podium building, Greater China International Exchange Plaza, Jintian Road, Futian District, Shenzhen
Office address: 8th floor, podium building, Greater China International Trade Plaza, Jintian Road, Futian District, Shenzhen
Legal representative: Yang Yuxiang
Tel.: 4008866338
Fax: 0755-82400862
Contact: Zheng Shuli
Customer service telephone: 95511-8
Website: stock.pingan.com
(13) Everbright Securities Co., Ltd
Address: No. 1508, Xinzha Road, Jing'an District, Shanghai
Office address: 1508 Xinzha Road, Jing'an District, Shanghai
Legal representative: Xue Feng
Tel.: 021-22169999
Fax: 021-22169134
Contact: Liu Chen
Customer service telephone: 95525
Website: www.ebscn.com
(14) Zhongtai Securities Co., Ltd
Domicile: Brokerage Headquarters, 23rd Floor, No. 86, Jingqi Road, Jinan, Shandong
Legal representative: Li Wei
Tel.: 0531-68889115
Fax: 0531-68889752
Contact: Wu Yang
Customer service telephone: 95538
Website: www.qlzq.com.cn
(15) First Venture Securities Co., Ltd
Address: 20/F, Investment Banking Building, No. 115, Fuhua 1st Road, Futian District, Shenzhen, Guangdong Province
Office address: 18/F, Investment Bank Building, No. 115, Fuhua 1st Road, Futian District, Shenzhen, Guangdong Province
Legal representative: Liu Xuemin
Contact: Wu Jun
Tel.: 0755-23838751
Fax: 0755-82485081
Customer service telephone: 400-888-1888
Website: www.firstcapital.com.cn
(16) Shenwan Hongyuan Western Securities Co., Ltd
Registered address: Room 2005, 20th Floor, Dacheng International Building, No. 358, Beijing South Road, High tech Zone (New Urban Area), Urumqi, Xinjiang
Office address: Room 2005, 20th Floor, Dacheng International Building, No. 358, Beijing South Road, High tech Zone (New City), Urumqi, Xinjiang (postcode: 830002)
Legal representative: Xu Jianping
Tel.: 010-88085858
Fax: 010-88085195
Contact: Li Wei
Customer service telephone: 400-800-0562
Website: www.hysec.com
(17) Bohai Securities Co., Ltd
Address: Room 101, Office Building, No. 42, Second Avenue, Tianjin Economic and Technological Development Zone
Office address: No. 8, Binshui West Road, Nankai District, Tianjin
Legal representative: Du Qingping
Contact: Wang Zhaoquan
Tel.: 022-28451861
Fax: 022-28451892
Customer service telephone: 400-651-5988
Website: www.bhzq.com
(18) Cinda Securities Co., Ltd
Address: Building 1, Yard 9, Naoshikou Street, Xicheng District, Beijing
Office address: Building 1, Yard 9, Naoshikou Street, Xicheng District, Beijing
Legal representative: Zhang Zhigang
Contact: Tang Jing
Tel: 010-63081000
Fax: 010-63080978
Customer service telephone: 400-800-8899
Website: www.cindasc.com
(19) CITIC Securities Co., Ltd
Address: North Block, Excellence Times Square (Phase II), No. 8, Zhongxin Third Road, Futian District, Shenzhen
Office address: CITIC Securities Building, 48 Liangmaqiao Road, Chaoyang District, Beijing
Legal representative: Wang Dongming
Tel: 010-60838888
Fax: 010-60833739
Contact: Gu Ling
Customer service telephone: 400-889-5548
Website: www.cs.ecitic.com
(20) Northeast Securities Co., Ltd
Address: No. 1138, Ziyou Road, Changchun City
Office address: Room 1005, Securities Building, No. 1138, Ziyou Road, Changchun City
Legal representative: Jiao Zhengzhong
Contact person: Andesite
Tel: 0431-85096517
Customer service telephone: 4006000686
Website: www.nesc.cn
(21) Dongxing Securities Co., Ltd
Domicile: Floor 12-15, Block B, Xinsheng Building, No. 5, Financial Street, Xicheng District, Beijing
Legal representative: Wei Qinghua
Contact: Tang Manchuan
Tel.: 010-66555316
Fax: 010-66555246
Customer service telephone: 400-888-8993
Website: www.dxzq.net.cn
(22) Tianxiang Investment Consulting Co., Ltd
Address: 701, Block B, Fukai Building, No. 19, Financial Street, Xicheng District, Beijing
Office address: Floor 5, Block C, No. 28, Xinjiekou Outer Street, Xicheng District, Beijing
Legal representative: Lin Yixiang
Tel.: 010-66045529
Fax: 010-66045518
Contact: Yin Ling
Customer service telephone: 010-66045678
Website: www.txsec.com
Website of Tianxiang Fund: www.jjm.com.cn
(23) CITIC Securities (Shandong) Co., Ltd
Address: Floor 20, Building 1, Qingdao International Finance Plaza, 222 Shenzhen Road, Laoshan District, Qingdao
Office address: 20/F, Building 1, Qingdao International Finance Plaza, 222 Shenzhen Road, Laoshan District, Qingdao
Legal representative: Yang Baolin
Contact: Wu Zhongchao
Tel.: 0532-85022326
Customer service hotline: 95548
Website: www.citicssd.com
(24) Huaxin Securities Co., Ltd
Registered address: Unit A01, B01 (b), Floor 28, Allianz Building, No. 4018, Jintian Road, Futian District, Shenzhen
Office address: No. 750, Zhaojiabang Road, Shanghai
Legal representative: Yu Yang
Contact: Chen Min
Business contact number: 021-64339000-807
Customer service hotline: 021-32109999; 029-68918888； four billion one million ninety-nine thousand nine hundred and eighteen
Website: www.cfsc.com.cn
(25) China International Finance Corporation
Domicile: 27/F and 28/F, Tower 2, Guomao Building, No.1 Jianguomenwai Street, Chaoyang District, Beijing
Office address: 27/F and 28/F, Tower 2, Guomao Building, No.1 Jianguomenwai Street, Chaoyang District, Beijing
Legal representative: Ding Xuedong
Contact: Yang Hanyu
Tel: 01065051166
Customer service hotline: 4009101166
Website: www.cicc.com.cn
(26) Lianxun Securities Co., Ltd
Registered address: the third and fourth floors of Huizhou Radio and Television News Center, Dongjiang 3rd Road, Jiangbei, Huicheng District, Huizhou City, Guangdong Province
Office address: the third and fourth floors of Huizhou Radio and Television News Center, Dongjiang 3rd Road, Jiangbei, Huicheng District, Huizhou City, Guangdong Province
Legal representative: Xu Gang
Contact: Peng Lian
Tel.: 0752-2119700
Fax: 0752-2119660
Customer service telephone: 95564
Website: www.lxsec.com
(27) Hangzhou Sumi Fund Sales Co., Ltd
Address: Room 202, Building 1, No. 1218, Wenyi West Road, Cangqian Street, Yuhang District, Hangzhou City
Office address: 12/F, Hang Seng Building, 3588 Jiangnan Avenue, Binjiang District, Hangzhou, Zhejiang
Legal representative: Chen Baiqing
Contact: Han Aibin
Customer service hotline: 4000-766-123
Website: www.fund123.cn
(28) Shenzhen Zhonglu Financial Holding Co., Ltd
Domicile: Floor 8, Material Holding Land Building, Liyuan Road, Luohu District, Shenzhen
Office address: Floor 8, Material Holding Land Building, Liyuan Road, Luohu District, Shenzhen
Legal representative: Xue Feng
Contact: Tong Caiping
Tel: 0755-33227950
Customer service hotline: 4006-788-887
Website: www.zlfund.cn and www.jjmmw.com
(29) Shanghai Changliang Fund Sales Investment Consulting Co., Ltd
Address: Room 220, Building 2, No. 526, Gaoxiang Road, Pudong New Area, Shanghai
Office address: 16/F, Block B, Yujing International, 555 Pudong Avenue, Pudong New Area, Shanghai
Legal representative: Zhang Yuewei
Business contact: Zheng Yinhua
Tel: 021-20691831
Customer service telephone: 400-820-2899
Website: www.erichfund.com
(30) Noah Zhengxing (Shanghai) Fund Sales Investment Consulting Co., Ltd
Address: Room 3724, No. 9, Lane 360, Feihong Road, Hongkou District, Shanghai
Office address: Floor 12, Block B, North America Plaza, No. 508 Kunming Road, Yangpu District, Shanghai
Legal representative: Wang Jingbo
Contact: Xu Cheng
Tel: 021-38509639
Customer service telephone: 400-821-5399
Website: www.noah-fund.com
(31) Shanghai Tiantian Fund Sales Co., Ltd
Address: Floor 2, Building 2, No. 190, Longtian Road, Xuhui District, Shanghai
Office address: 10/F, Building 3C, No. 195, Longtian Road, Xuhui District, Shanghai
Legal representative: actually
Contact: Zhu Yu
Tel: 021-54509998
Customer service hotline: 400-1818-188
Website: www.1234567.com.cn
(32) Wanyin Wealth (Beijing) Fund Sales Co., Ltd
Address: 3201, Pangu Grand View, No. 27, North Fourth Ring Middle Road, Chaoyang District, Beijing
Office address: 04-08, Floor 9, Building A, Wangjing Pohang Center, Chaoyang District, Beijing
Legal representative: Li Zhaodi
Contact: Fu Shaoshuai
Tel: 010-59497361
Customer service hotline: 400-059-8888
Website: www.wy-fund.com
(33) Shanghai Haomai Fund Sales Co., Ltd
Address: No. 41, Floor 2, Building 26, No. 196, Ouyang Road, Hongkou District, Shanghai
Office address: Room 903-906, Ordos International Building, No. 1118, Pudong South Road, Pudong New Area, Shanghai
Legal representative: Yang Wenbin
Contact: Zhang Ru
Tel: 021-58870011
Customer service hotline: 400-700-9665
Website: www.ehowbuy.com
(34) Shanghai Lide Fund Sales Co., Ltd
Address: Room 1033, No. 5475, Yunchuan Road, Baoshan District, Shanghai
Office address: Floor 12, Building 10, No. 61, Lane 91, Eshan Road, Pudong New Area, Shanghai
Legal representative: Shen Jiwei
Contact: Wu Hongfei
Tel: 021-50583533
Customer service hotline: 400-005-6355
Website: www.leadfund.com.cn
(35) Beijing Zengcai Fund Sales Co., Ltd
Address: No. 1208, Jianwei Building, No. 66, Nanlishi Road, Xicheng District, Beijing
Office address: 1208-1209 Jianwei Building, 66 Nanlishi Road, Xicheng District, Beijing
Legal representative: Luo Xi'an
Contact: Shi Lili
Tel: 010-67000988
Customer service hotline: 400-001-8811
Website: www.zcvc.com.cn
(36) Beijing Hengtian Mingze Fund Sales Co., Ltd
Address: Room 5122, Floor 5, No. 10, Hongda North Road, Beijing Economic and Technological Development Zone
Office address: 23/F, Block A, Lecheng Center, No. 20, Middle East Third Ring Road, Chaoyang District, Beijing
Legal representative: Liang Yue
Contact: Zhou Bin
Tel: 010-57756019
Customer service hotline: 400-786-8868-5
Website: www.chtfund.com
(37) Shenzhen Xinrand Securities Investment Consulting Co., Ltd
Address: 1006, Floor 10, Building 4, Saige Science Park, Huaqiang North Road, Futian District, Shenzhen#
Office address: Room 727, Floor 7, East Wing, Central Office Building, Zhuangsheng Plaza, No. 10, Xuanwumenwai Street, Xicheng District, Beijing
Legal representative: Yang Yi
Contact: Liu Baowen
Tel: 010-63130889-8369
Customer service hotline: 400-166-1188
Website: 8.jrj.com.cn
(38) Zhejiang Tonghua Shun Fund Sales Co., Ltd
Address: Room 903, Yuanmao Building, No. 1, Wener West Road, Hangzhou, Zhejiang
Office address: Floor 2, Building 2, Hangzhou E-Commerce Industrial Park, No. 7, Cuibai Road, Hangzhou, Zhejiang
Legal representative: Ling Shunping
Contact: Hu Xuan
Tel.: 0571-88911818
Customer service hotline: 4008-773-772
Website: www.5ifund.com
(39) China International Futures Co., Ltd
Registered address: 1/F, 2/F, 9/F, 11/F, 12/F, Building 1, No. 14, Guanghua Road, Jianguomenwai, Chaoyang District, Beijing
Office address: 1/F, 2/F, 9/F, 11/F, 12/F, Building 1, No. 14, Guanghua Road, Jianguomenwai, Chaoyang District, Beijing
Legal representative: Wang Bing
Contact: Meng Xia
Tel: 010-59539861
Customer service hotline: 95162, 400-8888-160
Website: www.cifco.net
(40) Medium term Asset Management Co., Ltd
Address: Room 1103, Floor 11, Building 1, No. 14, Guanghua Road, Jianguomenwai, Chaoyang District, Beijing
Office address: Floor 8, Zhongji Building, No. 14, Guanghua Road, Jianguomenwai, Chaoyang District, Beijing
Legal representative: Jiang Xin
Contact: Fang Yanmei
Tel: 010-65807865
Customer service hotline: 010-65807865
Website: www.cifcofund.com
(41) Zhejiang Jinguancheng Wealth Management Co., Ltd
Domicile: Room 1001, Floor 10, Building 1 (Jinchang Building), No. 45, Dengyun Road, Gongshu District, Hangzhou
Office address: Room 1001, Floor 10, Building 1 (Jinchang Building), No. 45, Dengyun Road, Gongshu District, Hangzhou
Legal representative: Chen Zheng
Contact: Zhou Lifeng
Tel.: 0571-88337788
Customer service hotline: 400-068-0058
Website: www.jincheng-fund.com
(42) Shanghai Huifu Financial Services Co., Ltd
Address: Room 1807-5, No. 336, Middle Tibet Road, Huangpu District, Shanghai
Office address: 19/F, Jinwaitan International Plaza, No. 100, Zhongshan South Road, Shanghai
Legal representative: Zhang Xiao
Contact: Zhou Dan
Tel: 021-33323999 * 8318
Customer service telephone: 400-820-2819
Company website: fund.bundtrade.com
(43) CITIC Futures Co., Ltd
Registered address: Room 1301-1305, 13/F, 14/F, North Block, Excellence Times Square (Phase II), No. 8, Central 3rd Road, Futian District, Shenzhen
Office address: Room 1301-1305, 13/F, 14/F, North Block, Excellence Times Square (Phase II), No. 8, Central 3rd Road, Futian District, Shenzhen
Legal representative: Zhang Hao
Contact: Hong Cheng
Tel.: 0755-23953913
Fax: 0755-83217421
Customer service telephone: 400-990-8826
Website: www.citicsf.com
(44) Taicheng Wealth Fund Sales (Dalian) Co., Ltd
Address: No. 3, Xinghai Zhonglong Garden, Shahekou District, Dalian, Liaoning
Office address: No.3 Xinghai Zhonglong Garden, Shahekou District, Dalian, Liaoning
Legal representative: Lin Zhuo
Contact: Xue Changping
Tel: 0411-88891212
Customer service hotline: 4006411999
Website: www.taichengcaifu.com
(45) West China Securities Co., Ltd
Address: Huaxi Securities Building, No. 198, Tianfu Second Street, High tech Zone, Chengdu, Sichuan
Office address: Huaxi Securities Building, No. 198, Tianfu Second Street, High tech Zone, Chengdu, Sichuan
Legal representative: Yang Jiongyang
Contact: Zhou Zhiru
Tel.: 028-86135991
Fax: 028-86150040
Customer service telephone: 95584 and 4008-888-818
Company website: http://www.hx168.com.cn
(46) Shanghai Lufax Asset Management Co., Ltd
Address: Unit 09, Floor 14, No. 1333, Lujiazui Ring Road, Pudong New Area, Shanghai
Office address: Floor 14, No. 1333, Lujiazui Ring Road, Pudong New Area, Shanghai
Legal representative: Guo Jian
Contact: Ning Boyu
Tel: 021-20665952
Fax: 021-22066653
Customer service telephone: 4008219031
Website: www.lufunds.com
(47) Beijing Lerong Duoyuan Investment Consulting Co., Ltd
Address: 1603, Floor 16, Building 1, No. 1, Xidawang Road, Chaoyang District, Beijing
Office address: 1603, Floor 16, Building 1, No. 1, Xidawang Road, Chaoyang District, Beijing
Legal representative: Dong Hao
Contact: Zhang Tingting
Tel: 18510450202
Fax: 010-56580660
Customer service telephone: 4000681176
Website: www.jimufund.com
(48) Datai Jinshi Investment Management Co., Ltd
Address: Room A506, Floor 4, Block B, Building 1, Guorui Building, No. 359, Jiangdong Middle Road, Jianye District, Nanjing
Office address: 15/F, Wenguang Building, No. 1386, Hongqiao Road, Changning District, Shanghai
Legal representative: Yuan Guming
Contact: He Tingyu
Tel: 13917225742
Fax: 021-22268089
Customer service hotline: 021-22267995/400-928-2266
Website: www.dtfunds.com
(49) Shenzhen Fuji Wealth Management Co., Ltd
Address: Room 201, Building A, No.1 Qianwan 1st Road, Qianhai Shenzhen Hong Kong Cooperation Zone, Shenzhen
Office address: Room 418, Phase II, Huiheng Group, No. 12, Gaoxin South 7th Road, Nanshan District, Shenzhen
Legal representative: Qi Xiaohe
Contact: Chen Yongjun
Tel: 0755-83999907-806
Fax: 0755-83999926
Customer service hotline: 0755-83999913
Website: www.jinqianwo.cn
(50) Shanghai Kaishi Wealth Fund Sales Co., Ltd
Registered address: Room 602-115, No. 765, Xizang South Road, Huangpu District, Shanghai
Office address: 4th Floor, Kaishi Building, No.1 East Yan'an Road, Huangpu District, Shanghai
Legal representative: Chen Jiwu
Contact: Li Xiaoming
Tel: 021-6333319
Fax: 021-63332523
Customer service telephone: 4000178000
Website: www.lingxinfund.com
(51) Zhuhai Yingmi Wealth Management Co., Ltd
Address: Room 105 - 3491, No. 6, Baohua Road, Hengqin New District, Zhuhai
Office address: B1201-1203, Floor 12, South Tower, Poly International Plaza, No. 1, Pazhou Avenue East, Haizhu District, Guangzhou
Legal representative: Xiao Wen
Contact: Huang Minchang
Tel: 020-89629099
Fax: 020-89629011
Customer service telephone: 020-89629066
Website: www.yingmi.cn
(52) Shanghai Liantai Asset Management Co., Ltd
Address: Room 310, Floor 3, No. 277, Fute North Road, China (Shanghai) Pilot Free Trade Zone
Office address: Floor 3, Building 8, No. 518, Fuquan North Road, Changning District, Shanghai
Legal representative: Yan Bin
Contact: Chen Dong
Tel: 021-52822063
Fax: 021-52975270
Customer service telephone: 4000-466-788
Website: www.66zichan.com
(53) Yifeng Financial Services (Shenzhen) Co., Ltd
Address: Room 201, Building A, No. 1, Qianwan 1st Road, Qianhai Shenzhen Hong Kong Cooperation Zone, Shenzhen (settled in Shenzhen Qianhai Business Secretary Co., Ltd.)
Office address: Room 1115, 1116, 1307, East Block, Coast Building, Haide 3rd Road, Nanshan District, Shenzhen
Legal representative: TAN YIK KUAN
Contact: Xiang Jingjing
Tel: 0755-8946 0507
Fax: 0755 2167 4453
Customer service hotline: 4006846500/4006840500
Website: www.ifastps.com.cn
(54) Beijing Qianjing Wealth Investment Management Co., Ltd
Domicile: Floor 10, Danling Soho, Danling Street, Haidian District, Beijing
Office address: Floor 10, Danling Soho, Danling Street, Haidian District, Beijing
Legal representative: Zhao Rongchun
Contact: Sheng Haijuan
Tel: 010-57418813
Customer service hotline: 400-893-6885
Website: www.qianjing.com
The Fund Manager may, in accordance with the requirements of relevant laws and regulations, add other institutions that meet the requirements to sell the Fund as agents and make timely announcements.
（2） Registration Authority
Name: China Shipping Fund Management Co., Ltd
Address: Room 2905-2908 and 30/F, No. 68, Yincheng Middle Road, Pudong New Area, Shanghai
Office address: Room 2905-2908 and 30/F, No. 68, Yincheng Middle Road, Pudong New Area, Shanghai
Legal representative: Huang Peng
General Manager: Huang Peng
Date of establishment: March 18, 2004
Tel.: 021-38429808
Fax: 021-68419328
Contact: Zhou Lin
（3） Guarantor
Name: China Investment and Financing Guarantee Co., Ltd
Address: Floor 9, Jinyu Building, No. 100, West Third Ring North Road, Haidian District, Beijing
Office address: 9/F, Jinyu Building, No. 100, Xisanhuan North Road, Haidian District, Beijing
Legal representative: Huang Yanxun
Date of establishment: December 4, 1993
Organizational form: limited liability company
Registered capital: RMB 45000000000
Business scope: financing guarantee business: loan guarantee, bill acceptance guarantee, trade financing guarantee, project financing guarantee, letter of credit guarantee and other financing guarantee business. Other businesses approved by the regulatory authority: bond guarantee, litigation preservation guarantee, bid guarantee, advance payment guarantee, project performance guarantee, payment guarantee for the remaining payment as agreed and other performance guarantee businesses, financing consulting, financial consulting and other intermediary services related to guarantee business, and investment with own funds. Investment and investment related planning and consultation; Asset entrusted management; Economic information consultation; Personnel training; Development, production and sales of new technologies and products; Warehousing services; Organize and host meetings and exchange activities. If the above scope involves the management of special national regulations, it shall be handled in accordance with relevant regulations.
（4） Law firm issuing legal opinion
Name: Shanghai Tongli Law Firm
Address: 19/F, Times Financial Center, 68 Yincheng Middle Road, Shanghai
Office address: 19/F, Times Financial Center, 68 Yincheng Middle Road, Shanghai
Legal representative: Han Jiong
Tel.: 021-31358666
Fax: 021-31358600
Contact: Sun Rui
Handling lawyers: Liming, Sun Rui
（5） Accounting firm auditing fund assets
Name: PricewaterhouseCoopers Zhongtian Certified Public Accountants (special general partnership)
Address: 6/F, DBS Building, 1318 Lujiazui Ring Road, Pudong New Area, Shanghai
Office address: 11/F, PricewaterhouseCoopers Center, 202 Hubin Road, Shanghai
Executive partner: Yang Shaoxin
Tel: (021) 23238888
Fax: (021) 23238800
Contact: Zhao Yu
Handling accountant: Xue Jing, Zhao Yu
4、 Name of the Fund
Zhonghai Huixiang Graded Bond Securities Investment Fund
5、 Type of Fund
Bond securities investment fund
6、 Principal guarantee of Huixiang B share
（1） Break even
On the expiration date of the first principal guaranteed cycle, if the product of the expired Huixiang B shares subscribed and held by the holders of Huixiang B shares and the net value of Huixiang B shares on the expiration date is less than the amount of capital guaranteed subscribed by them, the Fund Manager shall make up the difference and pay the difference to the holders of fund shares within 20 working days after the expiration date of the principal guaranteed cycle. The Fund Custodian shall have no obligation to review the calculation and payment of the principal guaranteed compensation difference.
On the expiration date of each principal guaranteed cycle after the first principal guaranteed cycle of the Fund, if the redeemable amount of Huixiang B shares subscribed by Huixiang B share holders during the transition period, or transferred from the previous principal guaranteed cycle to the current principal guaranteed cycle and held the expired Huixiang B shares is lower than the principal guaranteed amount subscribed during the transition period, or the principal guaranteed amount of fund shares transferred from the previous principal guaranteed cycle to the current principal guaranteed cycle, Then the fund manager or the principal guaranteed obligor shall make up the difference.
If Huixiang B share holders subscribe within the principal guaranteed period, or redeem or convert Huixiang B shares transferred out before the expiry date of the current principal guaranteed period, or other circumstances not applicable to the principal guaranteed terms as agreed in the Fund Contract occur, the corresponding Huixiang B shares are not applicable to the terms.
The principal guaranteed amount of subscription is the investment amount of Huixiang B shares subscribed and held by the holders of Huixiang B shares, which is the sum of the net subscription amount of Huixiang B shares subscribed and held by the holders of Huixiang B shares, subscription fees and interest income during the raising period.
The principal guaranteed amount of subscription during the transition period is the investment amount of Huixiang B shares that Huixiang B share holders have subscribed and held during the transition period, that is, the sum of the net asset value represented by Huixiang B share holders who have subscribed and held the expired Huixiang B shares during the transition period on the deadline of the transition period and the subscription fees during the transition period.
The principal guaranteed amount of Huixiang B shares transferred from the previous principal guaranteed cycle to the current principal guaranteed cycle is the investment amount of Huixiang B share holders transferred from the previous principal guaranteed cycle to the current principal guaranteed cycle and held the expired Huixiang B shares, that is, Huixiang B share holders transferred their Huixiang B shares held until the last principal guaranteed cycle to the current principal guaranteed cycle and held them to be expired, The net asset value represented by its Huixiang B share at the end of the transition period.
In the case of multiple subscriptions or subscriptions and redemptions by fund unit holders, the fund units held to maturity shall be determined on the principle of last in first out.
If Huixiang share B obtains the balance of principal guaranteed compensation, it will no longer make up for the agreed income that Huixiang share A has not obtained.
After the expiration of the principal guarantee period, if Huixiang B shares of the Fund do not meet the conditions for the existence of the principal guarantee fund, Huixiang B shares will no longer set up a principal guarantee mechanism.
（2） Breakeven period
The principal guarantee period of Huixiang B shares of the Fund is every two years, and the principal guarantee period is the same as the hierarchical operation period. The Fund Manager will determine the start date of the next principal guaranteed cycle in the expiration processing rules announced before the expiration of the principal guaranteed cycle. Unless otherwise specified in the fund contract, the principal guaranteed period is the current principal guaranteed period of Huixiang B shares.
Each principal guaranteed cycle after the first principal guaranteed cycle of the Fund starts from the starting date of the principal guaranteed cycle announced by the Fund Manager to the corresponding date two calendar years later. If the corresponding date is a non working day or there is no corresponding date in the calendar year, the expiration date of the principal guaranteed cycle is the last working day before that date. The Fund Manager will determine the starting time of the next principal guaranteed cycle in the expiration processing rules announced before the expiration of the principal guaranteed cycle.
（3） Breakeven case
If an investor invests 10000 yuan to subscribe Huixiang B shares of the Fund (the subscription application is fully confirmed) and holds them until the expiration of the principal guarantee period, the subscription rate is 0.6%. Assuming that the interest generated during the raising period is 3 yuan, then:
Net subscription amount=10000/(1+0.6%)=9940.36 yuan
Subscription fee=10000-9940.36=59.64 yuan
Subscription units=(9940.36 ＋ 3)/1.00=9943.36
1. If the principal guarantee period expires, the net value of Huixiang B shares is 0.90 yuan.
Principal guaranteed amount of subscription=9940.36 ＋ 59.64 ＋ 3 ＝ 10003.00 yuan
Redeemable amount=0.90 × 9943.36=8949.02 yuan
Namely: Redeemable amount ＜ principal guaranteed amount of subscription
Principal guaranteed compensation difference=10003.00-8949.02=1053.98 yuan
If the investor redeems Huixiang B shares on the expiration date of the principal guaranteed cycle, the fund manager will pay 10003.00 yuan to the investor according to the amount of principal guaranteed subscription.
2. If the principal guaranteed cycle expires, the net asset value of Huixiang B shares is 1.20 yuan.
Principal guaranteed amount of subscription=9940.36 ＋ 59.64 ＋ 3 ＝ 10003.00 yuan
Redeemable amount=1.20 × 9943.36=11932.03 yuan
Namely: Redeemable amount ＞ principal guaranteed amount of subscription
If the investor redeems Huixiang B shares on the expiration date of the principal guaranteed cycle, the fund manager will pay 11932.03 yuan to the investor according to the redeemable amount.
（4） Fund shares subject to principal protection clauses
1. For the first principal guaranteed cycle of the Fund, the holders of Huixiang B shares subscribe for and hold the expired Huixiang B shares.
2. For the principal guaranteed cycle after the first principal guaranteed cycle of the Fund, the holders of Huixiang B shares apply for and hold the expired Huixiang B shares during the transition period of the Fund, and the holders of Huixiang B shares choose or default to transfer to the current principal guaranteed cycle after the end of the last principal guaranteed cycle of the Fund and hold the expired Huixiang B shares.
（5） Circumstances where the principal guarantee clause is not applicable
1. On the expiration date of the principal guaranteed cycle, the product of Huixiang B shares subscribed by Huixiang B share holders, or subscribed during the transition period, or transferred from the previous principal guaranteed cycle to the current principal guaranteed cycle and held to maturity, and the net value of Huixiang B shares on the expiration date, shall not be less than the principal guaranteed amount of their subscription, or the principal guaranteed amount of subscription during the transition period Or the principal guaranteed amount of Huixiang B shares transferred from the previous principal guaranteed cycle to the current principal guaranteed cycle;
2. Huixiang B shares subscribed by holders of Huixiang B shares, or subscribed during the transition period, or transferred from the last principal guaranteed cycle to the current principal guaranteed cycle, but redeemed or converted out before the expiration date of the current principal guaranteed cycle of the fund (excluding that date);
3. The holders of Huixiang B shares subscribe or convert Huixiang B shares transferred into the Fund within the breakeven period;
4. The Fund Contract specified in the Fund Contract is terminated within the principal guarantee period of Huixiang B shares;
5. After the expiration date of the principal guarantee cycle of Huixiang B shares (excluding that date), the net value of fund shares in any form decreases;
6. The fund investment losses are caused by force majeure, or the fund manager is unable to perform all or part of its obligations as agreed or delayed to perform its obligations directly due to force majeure events, or the fund manager or principal guaranteed obligor is exempt from performing the principal guaranteed obligations under other circumstances specified in the Fund Contract;
7. If the total net asset value represented by the fund units that Huixiang B share holders choose or default to transfer to the current principal guaranteed cycle after the end of the last principal guaranteed cycle of the Fund exceeds the current principal guaranteed cycle guarantee limit provided by the guarantor or the current principal guaranteed cycle guarantee limit provided by the principal guaranteed obligor, Other fund shares other than the fund shares that can enjoy the breakeven clause confirmed by the fund manager in accordance with the agreement.
8. Modifying the terms of the Fund Contract without the written consent of the guarantor may increase the guarantor's guarantee liability, except for modifications required by laws and regulations.
9. During the principal guarantee period, the Fund merges with other funds or changes the fund manager, and the guarantor does not agree to continue to assume the guarantee responsibility.
7、 Investment objectives of the Fund
Under the premise of strict risk control, strive to achieve long-term steady appreciation of fund assets.
8、 Investment scope of the Fund
The Fund mainly invests in financial instruments with good liquidity, including fixed income financial instruments such as government bonds, central bank bills, financial bonds, corporate bonds, corporate bonds, convertible bonds, SME private placement bonds, medium-term notes, short-term financing bonds, local government bonds, asset-backed securities, bond repurchase, bank deposits, money market instruments, stocks Warrants and other equity assets, as well as other financial instruments that the fund is allowed to invest by laws and regulations or the CSRC, but must comply with the relevant provisions of the CSRC.
The allocation proportion of the Fund is: the proportion of bond assets in the Fund assets is not less than 80%, the proportion of equity assets in the Fund assets is not more than 20%, the market value of all warrants held by the Fund shall not exceed 3% of the net asset value of the Fund, and the cash held by the Fund or government bonds with a maturity date of less than one year shall not be less than 5% of the net asset value of the Fund.
If laws and regulations or regulatory authorities allow the fund to invest in other varieties in the future, the fund manager may include them into the investment scope after performing appropriate procedures.
The Fund Manager shall, within 6 months from the effective date of the Fund Contract, make the proportion of the Fund's investment portfolio conform to the relevant provisions above.
9、 Investment strategy of the Fund
1. Tier 1 asset allocation
The primary asset allocation mainly adopts the top-down approach.
Based on the analysis and judgment of domestic and foreign macroeconomic trends, fiscal and monetary policies, the Fund adopts a top-down analysis method to compare the income and risk characteristics of different securities sub markets and financial instruments, and dynamically determines the allocation proportion of fund assets in fixed income assets and equity assets.
2. Investment strategy of fixed income varieties
(1) Allocation strategy of fixed income varieties
1) Duration configuration
Duration allocation strategy is to carry out reasonable duration control on the portfolio to achieve effective management of interest rate risk. Based on the analysis of macroeconomic indicators and macroeconomic policies, the Fund judges the economic cycle of the macro-economy and predicts the direction and trend of interest rate changes. Determine the basic direction and characteristics of bond asset allocation according to the attributes of different categories of assets in the macroeconomic cycle, that is, the characteristics of money market pro cycle and bond market counter cycle; At the same time, combined with the analysis of the supply and demand of funds in the bond market, the duration allocation of the portfolio is finally determined.
2) Term structure configuration
After determining the duration of the portfolio, by studying the shape of the yield curve, using statistical and quantitative analysis techniques, the risk return situation of each period is evaluated, the return of each period of the yield curve is analyzed, and the allocation scheme with the best risk return ratio is selected among bullet portfolio, barbell portfolio and trapezoidal portfolio.
Bullet portfolio, that is, make the cash flow of the portfolio as centralized as possible;
Barbell portfolio, that is, make the cash flow of portfolio as bipolar as possible;
Trapezoidal portfolio, that is, make the cash flow of the portfolio as evenly distributed as possible during the investment period.
3) Allocation of bond categories
On the basis of macro analysis and duration and term structure allocation, the Fund analyzes the credit risk, market liquidity, market risk and other factors of different types of fixed income varieties. Based on the quantitative analysis of their historical price relationships, and taking into account their fundamental analysis, the Fund comprehensively analyzes the spread and change trend of various varieties. Hold corporate bonds (corporate bonds), SME private placement bonds, asset-backed securities and other credit varieties when the credit spread level is high, and hold treasury bonds, central bank bills and other interest rate varieties when the credit spread level is low, so as to determine the investment ratio of various types of bonds in the entire bond portfolio.
(2) Investment strategy of individual bonds (excluding convertible bonds)
The selection of individual coupons shall follow the following principles:
The principle of relative value: the varieties with higher yield in the same risk, and the varieties with lower risk in the same yield.
Liquidity principle: other conditions are similar, and the varieties with good liquidity should be selected.
1) Investment strategy of interest rate varieties
The Fund's investment in treasury bonds, central bank bills and other interest rate varieties is based on the duration allocation strategy and term structure allocation strategy, and under the premise of reasonable risk control, the liquidity of the portfolio is comprehensively considered, and the investment varieties are determined by adopting spread arbitrage strategy, relative value strategy, etc.
2) Investment strategies for credit products (excluding private placement bonds of SMEs)
The Fund adopts a top-down and bottom-up investment strategy for corporate bonds, corporate bonds, asset-backed securities and other credit products. The top-down investment strategy refers to the Fund's use of quantitative analysis methods to analyze the credit risk, liquidity risk, market risk and other factors of credit varieties on the basis of duration allocation strategy and term structure allocation strategy, and to judge the spread trend and its returns and risks. The bottom-up investment strategy refers to the Fund's use of industry and corporate fundamental research methods to analyze and measure the credit risk of bond issuers, and select better varieties that match risk and return for allocation.
The Fund will carry out in-depth fundamental analysis on the main enterprises issuing bonds, mainly including business history, industry status, competitive strength, corporate governance, strength of shareholders or local governments and support, with the help of the company's internal industry and the professional research ability of the company's researchers, and comprehensive reference to the research results of external research institutions; In combination with the issuance terms of bonds, the actual credit risk status and credit spread level of credit varieties are determined on the basis of comprehensive consideration of credit rating, term, liquidity, market segmentation, coupon rate, tax characteristics, prepayment and redemption, and investment in high-quality varieties with relatively low credit risk and relatively large credit spread income.
3) Private placement bond investment strategy of small and medium-sized enterprises
The Fund's investment strategy for private placement bonds of small and medium-sized enterprises is mainly based on the credit product investment strategy, on which the credit risk and liquidity risk of private placement bonds are mainly analyzed. First, determine the stage of the economic cycle, study the impact of the industry of private equity bond issuers in the economic cycle and policy changes to determine the changes in the overall credit risk of the industry, and invest in industries with positive factors to avoid industries with potential risks; Secondly, it comprehensively analyzes the operation management, development prospects, corporate governance, financial status and solvency of private equity bond issuers; Finally, the credit risk and liquidity risk of private placement bonds are comprehensively evaluated in combination with such factors as the coupon rate, residual maturity, guarantee situation and issuance scale of private placement bonds, and the risk and return matching varieties are selected for allocation.
(3) Convertible bond investment strategy
Convertible bonds have the relevant characteristics of bonds and stocks, and their investment risks and returns are between bonds and stocks. When screening convertible bonds, the Fund will first study the intrinsic bond value of convertible bonds (such as face interest, interest compensation and unconditional resale price), the scope of application of protection clauses, liquidity and other aspects; Then it analyzes the fundamentals of the underlying stock of convertible bonds to form the value evaluation of the underlying stock; Finally, the basic score of convertible bonds and the basic score of their underlying stocks are combined to determine the convertible bonds to be invested.
(4) Other trading strategies
1) Leverage amplification strategy: that is, based on the combination of existing bonds, use repurchase and other methods to invest in low-cost funds, and purchase bonds with relatively long remaining years and high yields in order to obtain excess returns.
2) Cross market arbitrage of corporate bonds: corporate bonds will be listed in the inter-bank market and the exchange market at the same time. According to past experience, there will be arbitrage trading opportunities in the two markets. The Fund will take advantage of the difference in the transaction prices of the same corporate bonds in the two markets to lock in the proceeds for cross market arbitrage and increase the return on the Fund's assets.
3. Stock investment strategy
The Fund's stock investment mainly selects stocks in quantitative and qualitative ways. The quantitative method mainly judges the future dividend paying ability and willingness of enterprises through the analysis of various indicators, so as to select high-quality listed companies with high dividend yield and strong dividend paying potential; The qualitative method is mainly to comprehensively investigate and evaluate the core competitive advantages of the company through field research and other methods, focus on investing in companies with high barriers to entry and comparative advantages in the industry, and resolutely avoid those companies with chaotic corporate governance and low management efficiency, so as to ensure the maximum avoidance of investment risks.
10、 Basis and procedure of investment decision of the Fund
1. Decision basis
(1) Provisions of relevant national laws, regulations and fund contracts;
(2) National macroeconomic environment and its impact on bond market and securities market;
(3) National monetary policy, fiscal policy and bond market policy;
(4) The supply and demand of funds in the money market and bond market and their future trends.
2. Investment decision-making procedure
In order to clarify the business responsibilities of each link of investment and prevent investment risks, the fund manager has established a standardized investment process.
(1) The Investment Decision making Committee shall hold regular meetings to determine the investment ratio of stock/bond assets and form investment resolutions for fund investment.
(2) The Research Department and the Financial Engineering Department put forward suggestions on the selection and quantitative investment of individual bonds and stocks to provide investment reference for fund managers and investment decision-making committees.
(3) The fund manager builds the investment portfolio according to the resolution of the investment decision-making committee and the suggestions of the Research Department and the Financial Engineering Department.
(4) The Trading Department executes the trading according to the instructions of the fund manager. During the trading process, the traders feed back the market information in a timely manner.
(5) The Risk Management Department tracks, evaluates and controls the risks of the fund portfolio, and analyzes the performance of the portfolio.
11、 Investment restrictions of the Fund
1. Combination restrictions
The Fund's portfolio should be subject to the following restrictions:
(1) The proportion of the Fund's investment in bond assets shall not be less than 80% of the Fund's assets, and the proportion of equity assets in the Fund's assets shall not exceed 20%;
(2) The Fund holds shares of a listed company whose market value does not exceed 10% of the net asset value of the Fund;
(3) The Fund and other funds managed by the Fund Manager hold securities issued by a company whose market value does not exceed 10% of the securities;
(4) The balance of funds financed from bond repo entering the national inter-bank market shall not exceed 40% of the net asset value of the fund. The maximum term of bond repo is one year, and the bond repo cannot be extended after its maturity;
(5) The Fund participates in the issuance and subscription of shares, and the amount declared by the Fund does not exceed the total assets of the Fund, and the number of shares declared by the Fund does not exceed the total number of shares issued by the stock company to be issued this time;
(6) The total amount of warrants purchased by the Fund on any trading day shall not exceed 5 ‰ of the net asset value of the Fund on the previous trading day; The market value of all warrants held by the Fund shall not exceed 3% of the net asset value of the Fund; The same warrant held by the Fund and other funds managed by the Fund Manager shall not exceed 10% of the warrant;
(7) The proportion of the same (referring to the same credit rating) asset-backed securities held by the Fund shall not exceed 10% of the size of the asset-backed securities; The proportion of the Fund's investment in various types of asset-backed securities of the same original equity holder shall not exceed 10% of the net asset value of the Fund; All the securities investment funds under the management of the Fund Manager shall invest in various types of asset-backed securities of the same original equity holder, which shall not exceed 10% of the total size of various types of asset-backed securities; The market value of all asset-backed securities held by the Fund shall not exceed 20% of the net asset value of the Fund;
(8) Keep no less than 5% of the net asset value of the fund in cash or government bonds with a maturity of less than one year;
(9) The Fund shall not violate the provisions of the Fund contract regarding the investment scope, investment strategy and investment proportion;
(10) The market value of all SME private placement bonds held by the Fund shall not exceed 20% of the net asset value of the Fund; The market value of a single SME private placement bond held by the Fund shall not exceed 10% of the net asset value of the Fund;
(11) The total amount of all public funds managed by the fund manager invested in a single period of medium-term notes issued by an enterprise shall not exceed 10% of the securities of that period;
(12) The market value of all tradable restricted securities held by the Fund shall not exceed 20% of the net asset value of the Fund;
(13) The Fund shall invest in asset-backed securities with a credit rating of BBB or above (including BBB). During the period when the Fund holds asset-backed securities, if its credit rating declines and it no longer meets the investment standards, it shall sell all of them within three months from the date of the rating report;
(14) Other investment restrictions stipulated by laws and regulations, the CSRC and the Fund Contract.
If the investment proportion of the Fund does not conform to the above investment proportion due to factors other than the Fund Manager, such as fluctuations in the securities market, mergers of listed companies, changes in the size of the Fund, and payment of consideration in the split share structure reform, the Fund Manager shall make adjustments within 10 trading days. If the law provides otherwise, such provisions shall prevail.
The Fund Manager shall, within six months from the effective date of the Fund Contract, make the proportion of the Fund's investment portfolio conform to the relevant provisions of the Fund Contract. The Fund Custodian's supervision and inspection of the Fund's investment shall commence on the effective date of the Fund Agreement.
If laws and regulations or regulatory authorities cancel or change the above restrictions, if they apply to the Fund, the Fund Manager will no longer be subject to relevant restrictions or the changed regulations after performing appropriate procedures.
2. Prohibited acts
In order to safeguard the legitimate rights and interests of fund share holders, fund assets may not be used for the following investments or activities:
(1) Underwriting securities;
(2) Lending or providing guarantee to others in violation of regulations;
(3) Investment with unlimited liability;
(4) Buying and selling other fund units, except as otherwise stipulated by the CSRC;
(5) Make capital contributions to the Fund Manager and the Fund Custodian;
(6) Engaging in insider trading, manipulating securities trading prices and other improper securities trading activities;
(7) Other activities prohibited by laws, administrative regulations and the CSRC.
If laws and regulations or regulatory authorities cancel the above prohibitive provisions, the Fund Manager may not be subject to the above restrictions after performing appropriate procedures.
12、 Fund performance benchmark
The benchmark for performance comparison of the Fund is: China Securities Total Debt Index.
The Fund is a bond fund, which mainly invests in fixed income financial instruments and emphasizes the stable appreciation of fund assets. For this reason, the Fund selects the China Securities Total Bond Index as the benchmark for the performance comparison of the Fund. The CSI All Bond Index is a cross market bond index compiled by CSI Index Company, which comprehensively reflects the inter-bank bond market and the bond market of Shanghai and Shenzhen Stock Exchanges.
If the laws and regulations change in the future, or a more authoritative and widely accepted performance benchmark is launched, or an index more suitable for the performance benchmark of the Fund appears in the market, the Fund Manager may, in accordance with the principle of safeguarding the legitimate rights and interests of investors, negotiate with the Fund Custodian and report to the CSRC for filing, Properly adjust the performance benchmark and make timely announcement without convening a general meeting of fund share holders.
13、 Risk return characteristics of the fund
The Fund is a bond fund, which belongs to the lower risk fund category of securities investment funds. Its risk return expectation is higher than that of money market funds, and lower than that of hybrid funds and equity funds.
After the Fund shares are graded, Huixiang A shares are fund shares with lower expected risk and relatively stable return; Huixiang B shares are fund shares with medium expected risk and medium expected return. If Huixiang B shares set up a capital guarantee mechanism within the hierarchical operation cycle, Huixiang B shares are fund shares with low expected risk and medium expected return.
14、 Fund portfolio report
The Board of Directors and directors of the Fund Manager guarantee that there are no false records, misleading statements or major omissions in the information contained in the Fund's portfolio report, and assume individual and joint liabilities for the authenticity, accuracy and integrity of its contents.
The Fund Custodian, Agricultural Bank of China Co., Ltd., reviewed the financial indicators, net worth performance and portfolio report in this report in accordance with the provisions of the Fund Contract, and ensured that there were no false records, misleading statements or major omissions in the review.
The data in this portfolio report is as of December 31, 2015, and the financial data listed in this report has not been audited.
1. Fund asset portfolio
As of December 31, 2015, the net asset value of CNOOC Huixiang graded bond securities investment fund was 877137075.58 yuan, the net value of fund units was 1.057 yuan, and the cumulative net value of fund units was 1.074 yuan. The asset portfolio is as follows:
Monetary unit: RMB
S/N Item amount (yuan) in the proportion of total fund assets (%)
1 Equity investment --
Including: stock --
2 Fixed income investment 887725206.10 97.42
Including: bond 877725206.10 96.33
Asset backed securities 10000000.00 1.10
3 Precious metal investment --
4 Financial derivatives investment-
5 Redemptory financial assets for sale --
Including: redemptory financial assets for sale under outright repo-
6 Total bank deposits and settlement reserves 2902592.28 0.32
7 Other assets 20578903.20 2.26
8 Total 911206701.58 100.00
2. Stock portfolio classified by industry at the end of the reporting period
Proportion of fair value of code industry category (yuan) to net asset value of the fund (%)
A Agriculture, forestry, animal husbandry and fishery --
B Mining industry --
C Manufacturing --
D Electricity, heat, gas and water production and supply industry --
E Construction --
F Wholesale and retail --
G Transportation, warehousing and postal services --
H Accommodation and catering industry --
I Information transmission, software and information technology service industry --
J Finance --
K Real estate industry --
L Leasing and business services --
M Scientific research and technical service industry --
N Water conservancy, environment and public facilities management industry --
O Residential services, repairs and other services --
P Education --
Q Health and Social Work --
R Culture, sports and entertainment industry --
S Integrated --
Total --
3. Details of the top ten stock investments ranked by the proportion of fair value in the net asset value of the fund at the end of the reporting period
Note: There is no circulation restriction in the top ten stocks of the Fund at the end of the reporting period.
4. Bond portfolio classified by bond varieties at the end of the reporting period
Monetary unit: RMB
S/N The proportion of the fair value of bond varieties (yuan) in the net asset value of the fund (%)
1 National bonds --
2 Central Bank Bills --
3 Financial bonds 49093908.90 5.60
Including: policy financial bonds 49093908.90 5.60
4 Corporate bonds 654106091.00 74.57
5 Enterprise short-term financing bonds 30027000.00 3.42
6 Medium term note 105775000.00 12.06
7 Convertible bonds 38723206.20 4.41
8 Others --
9 Total --
5. Details of the top five bond investments ranked by the proportion of fair value in the net asset value of the fund at the end of the reporting period
Monetary unit: RMB
S/N Bond code Number of bonds (piece) Proportion of fair value (yuan) to net asset value of the fund (%)
1 101459024 14 Tongxiang Urban Construction MTN001 500000 55340000.00 6.31
2 124987 14 Kunming Economic Development Zone 500000 52605000.00 6.00
3 124974 14 Luna Debt 499990 52288954.20 5.96
4 1182189 11 Beiying Steel MTN1 500000 50435000.00 5.75
5 122310 13 Su Xincheng 427020 49107300.00 5.60
6. Details of the top ten asset-backed securities investments ranked by the proportion of fair value in the net asset value of the fund at the end of the reporting period
No. Securities code Securities name Quantity (copy) Fair value (yuan) Proportion in net asset value of the fund (%)
1 061505001 15 Shanghai Provident Fund 1A1 100000 10000000.00 1.14
7. Details of the top five precious metal investments ranked by the proportion of fair value in the net asset value of the fund at the end of the reporting period
The Fund did not hold precious metals at the end of the reporting period.
8. Details of the top five warrant investments ranked by the proportion of fair value in the net asset value of the fund at the end of the reporting period
The Fund did not hold warrants at the end of the reporting period.
9. Description of stock index futures trading invested by the Fund at the end of the reporting period
(1) Details of positions and profits and losses of stock index futures invested by the Fund at the end of the reporting period
The Fund did not hold stock index futures contracts at the end of the reporting period.
(2) The Fund's investment policy for investing in stock index futures
According to the fund contract, the Fund will not participate in stock index futures trading.
10. Description of treasury bond futures transactions invested by the Fund at the end of the reporting period
(1) Investment policy for treasury bond futures of the current period
According to the fund contract, the Fund will not participate in treasury bond futures trading.
(2) Details of positions and profits and losses of treasury bond futures invested by the Fund at the end of the reporting period
The Fund did not hold treasury bond futures contracts at the end of the reporting period.
(3) Evaluation of current treasury bond futures investment
According to the fund contract, the Fund will not participate in treasury bond futures trading.
11. Notes to Portfolio Report
(1) During the reporting period, the top ten issuers of securities invested by the Fund were not investigated by the regulatory authorities, or were publicly condemned and punished within one year before the preparation date of this report.
(2) During the reporting period, the top ten stocks invested by the Fund did not include any stocks other than the alternative stocks specified in the Fund contract.
(3) As of December 31, 2015, the composition of other assets of the Fund is as follows:
Monetary unit: RMB
No. Name Amount (yuan)
1 Deposit 59117.94
2. Securities clearing receivables 999619.28
3 Dividends receivable-
4. Interest receivable 19520165.98
5 Receivable purchase application-
6 Other receivables-
7 Deferred expenses-
8 Others-
9 Total 20578903.20
(4) Details of convertible bonds held in the conversion period at the end of the reporting period
S/N Bond code Bond name Fair value (yuan) Proportion in net asset value of the fund (%)
1 110031 Hangxin Convertible Bond 9757476.00 1.11
2 113008 Electrical convertible bond 6608160.00 0.75
3 128009 Goer convertible bond 4495040.00 0.51
(5) Explanation of restricted circulation of top ten stocks at the end of the reporting period
The Fund is a bond fund and does not invest in stocks.
(6) Other text descriptions of the notes to the portfolio report
Due to rounding of the Fund, there may be a tail difference between the sum of sub items and the total.
15、 Fund performance
The Fund Manager shall manage and use the Fund assets in accordance with the principles of due diligence, honesty, prudence and diligence, but does not guarantee that the Fund will be profitable or the minimum return. The past performance of the Fund does not represent its future performance. Investment is risky. Investors should carefully read the Prospectus of the Fund before making investment decisions.
The growth rate of the net value of fund units and its comparison with the benchmark yield of performance comparison in the same period (as of December 31, 2015):
Stage net value growth rate ① Standard deviation of net value growth rate ② Benchmark yield of performance comparison ③ Standard deviation of benchmark yield of performance comparison ④ 2015 ③ ② - ④
2014.8.29-2014.12.31 2.50% 0.09% 4.24% 0.13% -1.74% -0.04%
2015.1.1-2015.12.31 4.82% 0.38% 8.74% 0.08% -3.92% 0.30%
Since the establishment of the fund, 7.44% 0.33% 13.35% 0.10% -5.91% 0.23%
Note: The effective date of the Fund Contract is August 29, 2014, and the past performance of the Fund does not predict its future performance.
16、 Fund expenses and taxes (I) Type of fund expenses
1. Management fees of the Fund Manager;
2. Custody fees of the Fund Custodian;
3. Fund sales service fee;
4. Information disclosure fees related to the Fund after the Fund Contract takes effect;
5. Accounting fees, attorney fees and legal fees related to the Fund after the Fund Contract comes into force;
6. Expenses for the general meeting of fund share holders;
7. Account opening and maintenance fees of relevant accounts of the Fund;
8. Securities trading fees of the Fund;
9. Bank transfer fees of the Fund;
10. Other expenses that may be disbursed from the Fund assets in accordance with the relevant provisions of the State and the Fund Contract.
（2） Fund expense accrual method, accrual standard and payment method
1. Management fee of fund manager
The management fee of the Fund is accrued at the annual fee rate of 0.75% of the net asset value of the Fund on the previous day. The management fee is calculated as follows:
H ＝ E × 0.75% ÷ days of the year
H is the daily accrued fund management fee
E is the net asset value of the fund on the previous day
The fund management fee is calculated daily, accumulated day by day to the end of each month, and paid monthly. After being checked by both the fund manager and the fund custodian, the fund custodian shall pay the fund manager a lump sum from the fund property within the first three working days of the next month. In case of legal holidays, public holidays, etc., the payment date shall be postponed.
2. Custody fees of the Fund Custodian
The custody fee of the Fund is accrued at an annual fee rate of 0.20% of the net asset value of the Fund on the previous day. The custody fee is calculated as follows:
H ＝ E × 0.20% ÷ days of the year
H is the fund custody fee that should be accrued every day
E is the net asset value of the fund on the previous day
The fund custody fee is calculated daily, accumulated day by day to the end of each month, and paid monthly. After verification by the Fund Manager and the Fund Custodian, the Fund Custodian will draw a lump sum from the fund property within the first three working days of the next month. In case of legal holidays, public holidays, etc., the payment date shall be postponed.
3. Fund sales service fee
After the fund contract takes effect, the annual rate of sales service fee for Huixiang A shares is 0.35%, and Huixiang B shares do not charge sales service fee.
The service fee for sales of Huixiang A shares is accrued at the annual fee rate of 0.35% of the net asset value of Huixiang A share fund on the previous day. The calculation method of sales service fee is as follows:
H ＝ E × 0.35% ÷ days of the year
H is the daily accrued sales service fee of Huixiang A share
E is the product of the net value of fund shares (reference) on the day before Huixiang A shares and the number of Huixiang A shares
The fund sales service fee is calculated daily, accumulated day by day to the end of each month, and paid monthly. After verification by both the fund manager and the fund custodian, the fund custodian shall pay the fund manager from the fund property in a lump sum within the first three working days of the next month, and the fund manager shall pay it to the fund sales institution. In case of legal holidays, public holidays, etc., the payment date shall be postponed.
In accordance with the provisions of relevant laws and regulations and corresponding agreements, the above "I. Expenses in Items 4-9 of the categories of fund expenses" shall be included in the current expenses according to the actual amount of expenses, which shall be paid by the fund custodian from the fund assets.
During the transition period, the Fund does not accrue management fees, custody fees and sales service fees.
（3） Items not included in fund expenses
1. Expenses incurred by the Fund Manager and the Fund Custodian due to their failure to perform or fully perform their obligations or losses of the Fund property;
2. Expenses incurred by the Fund Manager and the Fund Custodian in handling matters unrelated to the operation of the Fund;
3. Relevant expenses before the Fund Contract comes into effect;
4. Other items that may not be included in the fund fees according to the relevant laws and regulations and the relevant provisions of the CSRC.
（4） Fund tax
All taxpayers involved in the operation of the Fund shall pay taxes in accordance with national tax laws and regulations.
17、 The description of the updated part of the Prospectus (I) has been updated in the "Fund Manager" section.
（2） The "Fund Custodian" section has been updated.
（3） The "relevant service agencies" section has been updated.
（4） In the "Investment of the Fund" section, the "Fund Portfolio Report" has been updated according to the latest information.
（5） The "Fund performance" section was updated according to the latest information.
（6） In "Other Matters to be Disclosed", the announcement information of the Fund during the current period was disclosed.
China Shipping Fund Management Co., Ltd
April 13, 2016
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