Fund Manager: Nord Fund Management Co., Ltd
Fund Custodian: Huaxia Bank Co., Ltd
Report sending date: March 30, 2016 § 1 Important notes
1.1 Important tips
The board of directors and directors of the fund manager guarantee that the information contained in this report is free from false records, misleading statements or major omissions, and bear individual and joint legal liabilities for the authenticity, accuracy and integrity of its contents. This annual report has been signed and approved by more than two-thirds of independent directors and signed and issued by the chairman of the board.
The Fund Custodian Huaxia Bank Co., Ltd. reviewed the financial indicators, net worth performance, profit distribution, financial accounting report, investment portfolio report and other contents of this report on March 29, 2016 in accordance with the provisions of this Fund Contract, and guaranteed that there were no false records, misleading statements or major omissions in the review contents.
The Fund Manager promises to manage and use the Fund assets in the principle of honesty, credit and diligence, but does not guarantee that the Fund will be profitable.
The past performance of the Fund does not represent its future performance. Investment is risky. Investors should carefully read the Prospectus of the Fund and its updates before making investment decisions.
The summary of this annual report is extracted from the body of the annual report. Investors should read the body of the annual report if they want to know more details.
The reporting period is from January 1 to December 31, 2015.
§ 2 Fund Profile
2.1 Basic Information of the Fund
Fund abbreviation
Nord Double Wings Bond
On site abbreviation
Nord Wings
Fund Master Code
165705
Transaction code
165705
Fund operation mode
Contractual, listed open-end fund (LOF)
Effective date of fund contract
February 16, 2012
Fund manager
Nord Fund Management Co., Ltd
Fund Custodian
Huaxia Bank Co., Ltd
Total fund units at the end of the reporting period
145449812.25 copies
Listing date
March 20, 2015
2.2 Fund Product Description
Investment objectives
On the basis of pursuing stable appreciation of fund assets, the Fund strives to obtain investment returns higher than the benchmark of performance.
Investment strategy
The Fund will form a reasonable expectation of the trend of interest rate and bond product risk premium through research and analysis of domestic and foreign macroeconomic development situation, government policy guidance and market capital supply and demand relationship, and on this basis, through the relative value analysis of various bond varieties, comprehensively consider factors such as yield, liquidity, credit risk and sensitivity to interest rate changes, Actively construct and adjust the portfolio, strive to obtain capital gains on the basis of obtaining stable coupon returns, and at the same time keep the bond portfolio moderately sensitive to interest rate fluctuations, so as to control investment risks and obtain long-term stable bond investment returns.
Performance Benchmark
China Bond Index
Risk return characteristics
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.
2.3 Fund Manager and Fund Custodian
project
Fund manager
Fund Custodian
Name
Nord Fund Management Co., Ltd
Huaxia Bank Co., Ltd
Person in charge of information disclosure
Name
Zhang Xin
Xu Haoguang
Contact number
021－68879999
010-85238982
E-mail
xin.zhang@nuodefund.com
bjxhg@hxb.com.cn
Customer service telephone
400-888-0009
95577
Fax
021－68877727
010-85238680
2.4 Information disclosure method
The administrator's Internet website for publishing the summary of the Fund's annual report
www.nuodefund.com
Place of preparation of the annual report of the Fund
Domicile of the Fund Manager and the Fund Custodian
§ 3 Main financial indicators, fund net value performance and profit distribution
3.1 Main accounting data and financial indicators
Monetary unit: RMB
3.1.1 Period data and indicators
2015
2014
2013
Realized income in the current period
1,092,144.33
10,708,588.74
15,547,716.99
Current profit
146,954.96
20,962,201.28
4,117,639.75
Weighted average fund share profit of the current period
0.0008
0.1108
0.0163
Growth rate of net value of fund units in the current period
0.19%
10.89%
3.05%
3.1.2 Ending data and indicators
End of 2015
End of 2014
End of 2013
Profit of fund units available for distribution at the end of the period
0.1677
0.1732
0.0982
Net value of fund assets at the end of the period
144,637,473.69
218,271,880.24
244,918,867.33
Net value of fund units at the end of the period
0.994
1.191
1.074
Note: 1. Realized income in the current period refers to the balance of interest income, investment income and other income (excluding income from changes in fair value) of the fund in the current period after deducting relevant expenses. The profit in the current period is the realized income in the current period plus income from changes in fair value in the current period.
2. The ending distributable profits shall be the lower of the undistributed profits in the ending balance sheet and the realized part of the undistributed profits in the ending balance sheet (the ending balance, not the current amount). The "end of the period" in the table refers to the last day of the reporting period, whether it is an open day or a trading day of the exchange.
3. The said fund performance indicators do not include the various fees for the holders to subscribe or trade the fund, and the actual income level after the fees are included should be lower than the listed figures.
4. The effective date of this Fund Contract is February 16, 2012.
3.2 Fund net value performance
3.2.1 The growth rate of the net value of fund shares and its comparison with the benchmark return rate of performance in the same period
stage
Growth rate of share net value ①
Standard deviation of share net value growth rate ②
Benchmark yield of performance ③
Benchmark return standard deviation of performance ④
①－③
②－④
Last three months
2.47%
0.11%
2.37%
0.11%
0.10%
0.00%
Last six months
-0.40%
0.47%
3.71%
0.11%
-4.11%
0.36%
Last year
0.19%
0.73%
4.51%
0.12%
-4.32%
0.61%
Last three years
15.87%
0.44%
6.39%
0.13%
9.48%
0.31%
Since the Fund Agreement came into force
24.97%
0.39%
5.83%
0.12%
19.14%
0.27%
3.2.2 Changes in the growth rate of the cumulative net value of fund shares since the fund contract came into force and its comparison with the changes in the benchmark return rate of performance in the same period
Nord Double Wings Bond Securities Investment Fund (LOF)
Historical trend comparison chart of share cumulative net value growth rate and performance benchmark yield
(February 16, 2012 to December 31, 2015)
/
Note: "Nord Double Wings Bond Securities Investment Fund (LOF) was established on February 16, 2012, and the time period shown in the figure is from February 16, 2012 to December 31, 2015.
The period of the Fund's position establishment is from February 16, 2012 to August 15, 2012, and the asset allocation ratio at the end of the reporting period complies with the provisions of the Fund's contract. "
3.2.3 The growth rate of the annual net value of the fund since the fund contract came into force and its comparison with the benchmark return rate of performance in the same period
Nord Double Wings Bond Securities Investment Fund (LOF)
Comparison between the growth rate of net fund value and the benchmark return rate of performance comparison since the fund contract came into force
/
Note: This chart shows the comparison between the growth rate of fund net worth and the benchmark return rate of performance from 2012 to December 31, 2015
§ 4 Manager's report
4.1 Fund manager and fund manager
4.1.1 Fund managers and their experience in managing funds
Nord Fund Management Co., Ltd. was established with the approval of ZJJZ [2006] No. 88 document of China Securities Regulatory Commission. The shareholders of the Company are Tsinghua Holdings Co., Ltd. and Yixin Huimin Investment Management (Beijing) Co., Ltd., registered in Shanghai, with a registered capital of 100 million yuan. By the end of the reporting period, the company has managed nine open-end funds: Nord Value Advantage Hybrid Securities Investment Fund, Nord Theme Flexible Allocation Hybrid Securities Investment Fund, Nord Enhanced Yield Bond Securities Investment Fund, Nord Growth Advantage Hybrid Securities Investment Fund, Nord Small and Medium Cap Hybrid Securities Investment Fund, Nord Optimality 30 Hybrid Securities Investment Fund Nord Double Wings Bond Securities Investment Fund (LOF), Nord Cycle Strategy Hybrid Securities Investment Fund, Nord Shenzhen 300 Index Graded Securities Investment Fund.
4.1.2 Profile of fund manager (or fund manager team) and fund manager assistant
full name
Position
Term of service as fund manager (assistant) of the Fund
Securities working years
Description
Date of appointment
Date of departure
Zhao Taotao
Fund manager of the Fund, fund manager of Nordisk enhanced yield bond securities investment fund
2012-02-16
-
9
Master of Finance, Shanghai University of Finance and Economics. From November 2006 to October 2008, he worked in Ping An Asset Management Co., Ltd. In October 2008, he joined Nord Fund Management Co., Ltd. as a bond trader, fixed income researcher and other positions, and was qualified for fund practice.
4.2 Statement of the Manager on the compliance of the Fund's operation during the reporting period
During the reporting period, the Fund Manager managed and used the Fund assets in strict accordance with the Fund Contract, the Securities Investment Fund Law, the Administrative Measures for the Operation of Publicly Offered Securities Investment Funds and other laws, regulations and relevant provisions of the regulatory authorities, in accordance with the principles of good faith, diligence, safety and efficiency, and on the basis of carefully controlling investment risks, Seeking the best interests for the Fund Unitholders and not harming the interests of the Fund Unitholders.
4.3 Special instructions of the manager on fair transactions during the reporting period
4.3.1 Fair Trading System and Control Methods
In order to ensure the safety of various entrusted investment funds, ensure the normal operation of the Company's various asset management businesses, and safeguard the legitimate rights and interests of investors, in accordance with the Law of the People's Republic of China on Securities Investment Funds, the Measures for the Administration of Securities Investment Fund Management Companies, the Guiding Opinions on the Fair Trading System of Securities Investment Fund Management Companies and other laws and regulations According to the normative documents, the Fund Manager has formulated and implemented the "Management Measures for Fair Trading of Nord Fund Management Co., Ltd." to ensure that all investment portfolios are treated fairly in investment management activities, and strictly prevent the transfer of interests between different investment groups directly or through transaction arrangements with third parties. The scope of the regulations includes domestic listed stocks Investment management activities, such as bond purchase in the primary market and transaction in the secondary market, also include all links related to investment management activities, such as authorization, research and analysis, investment decision-making, transaction execution and performance evaluation. Specific control measures include:
1、 Implementation of information isolation system: the company establishes a management and confidentiality system for portfolio investment information, and positions and transactions between different portfolio managers and other major non-public investment information are isolated from each other;
2、 Fair sharing of research and analysis reports: all research reports are published on the company's intranet platform, but it is prohibited to publish them in other public channels. All portfolio managers simultaneously obtain research and analysis report materials;
3、 Strictly control the same day reverse transaction: in principle, the same day reverse transaction between different portfolios is prohibited. If the same day reverse transaction does occur due to the investment decision or liquidity needs of the portfolio, the relevant portfolio manager should provide the decision-making basis to the investment decision-making committee and keep records for filing;
4、 Fair execution of trading orders: (1) The traders shall execute the received trading orders in the order of time priority and price priority. When executing investment orders in the same direction issued by multiple portfolios on the same securities at the same time point, in addition to the exception orders that need to be reviewed for fairness, the fair trade switch of the system must be turned on; (2) Different portfolios participate in non centralized bidding transactions such as inter-bank market transactions and block transactions on exchanges. For transactions that need to be allocated trading volume, the Fair Trading Approval Form should be filled in, and the allocation should be carried out on a pro rata basis to ensure that different portfolios have fair trading opportunities; (3) For some transactions in the name of the company such as the subscription of bonds in the primary market and the subscription of non-public shares, each portfolio manager shall independently determine the transaction price and quantity of each portfolio before the transaction, and the centralized trading room shall distribute the transaction results according to the principle of price priority and proportional distribution; (4) For transactions that cannot be allocated through the fair trading module of the investment trading system due to special reasons, the fairness review shall be carried out, and the Fair Trading Approval Form shall be filled in and submitted to the company's investment director or senior management in charge of investment for approval before implementation.
5、 Conduct pre audit and post audit: the risk management department of the company conducts pre audit on the fairness of the transaction price of the bargaining transaction between each portfolio and the counterparty according to the third-party information recognized in the market, Conduct in-process monitoring on the reverse transactions of different portfolios with fair transactions on the same day and near the trading day, as well as abnormal trading behaviors that may lead to unfair transactions and benefit transfer, and conduct post event analysis on the trading timing and trading spread of the same direction transactions of different portfolios near the trading day.
4.3.2 Implementation of fair trade system
During the reporting period, the implementation of the fair trade system was generally good. At the end of each quarter in 2015, the Company made a special analysis of the transaction price difference of the same direction transactions of different portfolios managed by the Company in four consecutive quarters and at different time windows (within a day, three days, and five days). Through T test analysis and contribution rate analysis, there is no significant advantage or disadvantage in the same direction transactions between this portfolio and other portfolios within the day, three days, and five days, and no other situation of benefit transfer is found.
4.3.3 Special description of abnormal trading behavior
According to the Guiding Opinions on Fair Trading System of Securities Investment Fund Management Companies issued by China Securities Regulatory Commission, the Company has formulated the Management Measures for Monitoring and Reporting of Abnormal Transactions of Nord Fund Management Co., Ltd., which specifies that the Company monitors the same direction and reverse transactions and other daily trading behaviors of the investment portfolio, and reports the abnormal trading behaviors found. This method covers the types of abnormal transactions, definition standards, monitoring methods and identification procedures, analysis reports on abnormal transactions, etc. and has been effectively implemented. During the reporting period, there were no transactions between the Fund and other portfolios that participated in the public bidding of the Exchange and closed fewer one-sided transactions on the same day, with the volume of one-sided transactions exceeding 5% of the trading volume of the securities on the same day, and no unfair transactions were found.
4.4 The Manager's description of the investment strategy and performance of the Fund during the reporting period
4.4.1 Analysis of fund investment strategy and operation during the reporting period
The bond market rose sharply in 2015. On a quarterly basis, the replacement plan for local government bonds launched by the Ministry of Finance in the first quarter greatly impacted the supply expectation of the bond market, and the market fell sharply; After the first quarter, the decline of the stock market led to a rapid decline in investors' risk appetite. In addition, the macro-economy declined rapidly, monetary policy relaxed, and interest rates and reserve requirements were cut continuously; Funds poured into the bond market, pushing the bond market up unilaterally.
Throughout the year, the Fund adopted a dumbbell type allocation strategy, with short-term credit bonds as the underlying assets, and selected individual bonds with high coupon and good qualifications as the main allocation objects; Long term treasury bonds are the main allocation objects in the long term. Due to the moderate extension of the duration of the portfolio, it has better shared the gains of the bull market. In addition, due to the underestimation of the decline of the convertible bond market in the middle of the year, the high position of convertible bonds has caused great damage. During the reporting period, the Fund underperformed the benchmark performance mainly because of the over allocation of convertible bonds.
4.4.2 Performance of the Fund during the reporting period
As of December 31, 2015, the net value of the Fund units was 0.994 yuan, and the cumulative net value was 1.220 yuan. The growth rate of net share value in the reporting period was 0.19%, and the benchmark growth rate of performance in the same period was 4.51%.
4.5 Manager's brief outlook on macroeconomic, securities market and industry trends
Looking forward to 2016, the downward pressure on the economy is still great. It is expected that the loose monetary policy will continue, but the exchange rate expectation may be an important factor affecting the degree of easing. In addition, the bond market has risen for two consecutive years. At present, the rise has been large, and there is a certain demand for adjustment in the short term.
4.6 Manager's description of fund valuation procedures and other matters during the reporting period
In order to ensure that the fund valuation strictly complies with the new accounting standards, the relevant provisions of the CSRC and the agreement on valuation in the fund contract, and better protect the legitimate rights and interests of fund share holders, the Fund Manager has formulated and revised the Securities Investment Fund Valuation System of Nord Fund Management Co., Ltd. (hereinafter referred to as the "Valuation System")
According to the valuation system, the Fund Manager has established a special valuation committee. The valuation committee is composed of the company's investment director, operation director, manager of the clearing and registration department, fund accounting director and legal director. All relevant members have corresponding professional competence and long-term relevant work experience. The Valuation Committee is mainly responsible for formulating the valuation policies and procedures of fund assets, regularly evaluating the applicability of existing valuation policies and procedures and ensuring the consistency of valuation strategies and procedures. Including:
The fund accounting director is mainly responsible for formulating new valuation policies, methods and procedures, providing relevant accounting data, and specifically communicating with the accounting firm and the fund custodian bank on valuation models, assumptions and parameters to support the relevant decisions of the Committee;
The Operation Director and the Manager of the Liquidation and Registration Department are mainly responsible for supervising the effective implementation of the resolution of the Valuation Committee;
The Chief Investment Officer is mainly responsible for analyzing the market situation and judging the economic environment and relevant major issues of specific investment varieties based on the opinions of researchers in relevant industries;
The legal director is responsible for reviewing the legality and compliance of the committee's resolutions, as well as specific information disclosure.
According to the valuation system, the members of the valuation committee do not include fund managers. During the reporting period, there was no major conflict of interest between the parties involved in the above process.
4.7 Manager's description of fund profit distribution during the reporting period
During the reporting period, the Fund did not implement profit distribution.
4.8 Statement of the Manager on the number of fund holders or the early warning of the net asset value of the fund during the reporting period
None.
§ 5 Custodian report
5.1 Statement on Compliance and Credibility of the Fund Custodian during the Reporting Period
During the reporting period, the Custodian strictly complied with the Securities Investment Fund Law, the Fund Contract, the Custodian Agreement and other relevant provisions in the custody process of the Fund, did not harm the interests of fund share holders, and fully and dutifully fulfilled the obligations of the Fund Custodian.
5.2 The Custodian's explanation of the Fund's investment operation compliance, net value calculation, profit distribution, etc. during the reporting period
During the reporting period, the Custodian has carefully reviewed the calculation of the Fund's net asset value, fund expenses and other aspects in accordance with the relevant national regulations, fund contracts, custody agreements and other relevant provisions, and has supervised the investment operation of the Fund. It has not found that the Fund Manager has any behavior that harms the interests of fund share holders.
During the reporting period, the Fund did not implement profit distribution.
5.3 The Custodian expresses its opinions on the authenticity, accuracy and completeness of the financial information in this annual report
The Custodian believes that the financial indicators, net worth performance, financial accounting report, profit distribution, portfolio report, etc. in the 2015 annual report of the Fund prepared by the Fund Manager and reviewed by the Custodian are true, accurate and complete.
§ 6 Audit report
The financial accounting report of the Fund in this reporting period was audited by PricewaterhouseCoopers Zhongtian Certified Public Accountants (special general partnership), and the CPA Shan Feng Cao Yang signed and issued the standard unqualified audit report of PricewaterhouseCoopers Zhongtian Shen Zi (2016) No. 20698. Investors can view the full text of the audit report through the body of the annual report.
§ 7 Annual financial statements
7.1 Balance Sheet
Accounting entity: Nord Double Wings Bond Securities Investment Fund (LOF)
Report deadline: December 31, 2015
Unit: RMB
assets
Note No
At the end of the period
December 31, 2015
End of last year
December 31, 2014
Assets:
-
-
Bank deposits
7.4.7.1
5,375,870.89
1,028,075.91
Settlement reserve
3,075,904.13
5,467,320.85
Deposit
103,593.55
55,839.42
Trading financial assets
7.4.7.2
309,748,524.24
317,965,044.80
Including: stock investment
-
-
Fund investment
-
-
Bond investment
309,748,524.24
317,965,044.80
Asset backed securities investment
-
-
Precious metal investment
-
-
Derivative financial assets
7.4.7.3
-
-
Redemptory financial assets for sale
7.4.7.4
-
-
Receivables from securities settlement
-
3,104,649.96
Interest receivable
7.4.7.5
6,884,545.99
8,922,922.95
Dividends receivable
-
-
Subscription receivable
2,400.00
-
Deferred income tax assets
-
-
Other assets
7.4.7.6
-
-
Total assets
325,190,838.80
336,543,853.89
Liabilities and owner's equity
Note No
At the end of the period
December 31, 2015
End of last year
December 31, 2014
Liabilities:
-
-
Short term borrowings
-
-
Trading financial liabilities
-
-
Derivative financial liabilities
7.4.7.3
-
-
Financial assets sold for repurchase
178,462,786.75
115,999,945.40
Securities settlement payable
788,763.71
1,133,074.79
Redemption amount payable
-
-
Remuneration payable to manager
85,597.34
129,297.38
Custody fee payable
24,456.40
36,942.11
Sales service fees payable
48,912.79
73,884.23
Transaction expenses payable
7.4.7.7
1,627.65
525.00
Taxes payable
425,592.78
304,578.88
Interest payable
25,627.69
3,725.86
Profit payable
-
-
Deferred income tax liabilities
-
-
Other liabilities
7.4.7.8
690,000.00
590,000.00
Total liabilities
180,553,365.11
118,271,973.65
Owner's equity:
-
-
Paid in fund
7.4.7.9
118,167,085.76
178,631,030.92
Undistributed profits
7.4.7.10
26,470,387.93
39,640,849.32
Total owner's equity
144,637,473.69
218,271,880.24
Total liabilities and owners' equity
325,190,838.80
336,543,853.89
Note: As of December 31, 2015, the net value of fund units was 0.994 yuan, and the total number of fund units was 145449812.25.
7.2 Income Statement
Accounting entity: Nord Double Wings Bond Securities Investment Fund (LOF)
The reporting period: January 1, 2015 to December 31, 2015
Unit: RMB
project
Note No
Current period
January 1, 2015 to December 31, 2015
Comparable period of the previous year
January 1, 2014 to December 31, 2014
1、 Revenue
5,911,097.70
30,552,815.17
1. Interest income
12,724,630.74
18,287,885.51
Including: deposit interest income
7.4.7.11
119,578.53
174,370.79
Bond interest income
12,575,708.55
18,041,052.94
Interest income from asset-backed securities
-
-
Income from redemptory sale of financial assets
29,343.66
72,461.78
Other interest income
-
-
2. Investment income (loss expressed with "-")
-5,922,147.69
2,011,154.98
Including: Stock investment income
7.4.7.12
-8,404,266.45
-
Fund investment income
-
-
Bond investment income
7.4.7.13
2,353,366.00
2,011,154.98
Investment income of asset-backed securities
-
-
Investment income of precious metals
-
-
Income from derivative instruments
7.4.7.14
-
-
Dividend income
7.4.7.15
128,752.76
-
3. Income from changes in fair value (loss expressed with "-")
7.4.7.16
-945,189.37
10,253,612.54
4. Exchange gains (loss expressed with "-")
-
-
5. Other income (loss expressed with "-")
7.4.7.17
53,804.02
162.14
Less: II. Expenses
5,764,142.74
9,590,613.89
1. Manager's remuneration
1,250,067.15
1,515,670.48
2. Custody fee
357,162.09
433,048.77
3. Sales service fee
714,324.21
866,097.46
4. Transaction expenses
7.4.7.18
202,454.02
5,799.74
5. Interest expense
2,782,935.27
6,333,597.44
Including: Expenditure on financial assets sold for repurchase
2,782,935.27
6,333,597.44
6. Other expenses
7.4.7.19
457,200.00
436,400.00
3、 Total profit (total loss expressed with "-")
146,954.96
20,962,201.28
Less: income tax expenses
-
-
4、 Net profit (net loss expressed with "-")
146,954.96
20,962,201.28
7.3 Statement of Changes in Owner's Equity (Net Fund Value)
Accounting entity: Nord Double Wings Bond Securities Investment Fund (LOF)
The reporting period: January 1, 2015 to December 31, 2015
Unit: RMB
project
Current period
January 1, 2015 to December 31, 2015
Paid in fund
Undistributed profits
Total owner's equity
1、 Opening owner's equity (net fund value)
178,631,030.92
39,640,849.32
218,271,880.24
2、 Changes in net fund value generated by operating activities in the current period (profit in the current period)
-
146,954.96
146,954.96
3、 Changes in the net value of the fund arising from the transaction of fund units in the current period (decrease in net value is indicated by "-")
-60,463,945.16
-13,317,416.35
-73,781,361.51
Including: 1. Fund subscription
32,699,913.11
8,214,853.69
40,914,766.80
2. Fund redemption
-93,163,858.27
-21,532,270.04
-114,696,128.31
4、 Changes in the net value of the fund arising from the distribution of profits to fund share holders in the current period (decrease in net value is indicated by "-")
-
-
-
5、 Owner's equity at the end of the period (net fund value)
118,167,085.76
26,470,387.93
144,637,473.69
Project
Comparable period of the previous year
January 1, 2014 to December 31, 2014
Paid in fund
Undistributed profits
Total owner's equity
1、 Opening owner's equity (net fund value)
222,520,094.40
22,398,772.93
244,918,867.33
2、 Changes in net fund value generated by operating activities in the current period (profit in the current period)
-
20,962,201.28
20,962,201.28
3、 Changes in the net value of the fund arising from the transaction of fund units in the current period (decrease in net value is indicated by "-")
-43,889,063.48
-3,720,124.89
-47,609,188.37
Including: 1. Fund subscription
3,641.39
362.00
4,003.39
2. Fund redemption
-43,892,704.87
-3,720,486.89
-47,613,191.76
4、 Changes in the net value of the fund arising from the distribution of profits to fund share holders in the current period (decrease in net value is indicated by "-")
-
-
-
5、 Owner's equity at the end of the period (net fund value)
178,631,030.92
39,640,849.32
218,271,880.24
Notes to the financial statements are an integral part of the financial statements.
The pages (serial number) of this report range from 7.1 to 7.4. The financial statements are signed by the following persons in charge:
Person in charge of fund manager: Hu Zhiwei, person in charge of accounting: Hu Zhiwei, person in charge of accounting agency: Gao Qi
7.4 Notes to statements
7.4.1 Basic Information of the Fund
Nord Double Wings Bond Securities Investment Fund (LOF) (hereinafter referred to as "the Fund") comes from Nord Double Wings Hierarchical Bond Securities Investment Fund (hereinafter referred to as "the Original Fund") after changing its operating mode in accordance with the relevant provisions of Nord Double Wings Hierarchical Bond Securities Investment Fund Contract. The original funds have been approved by the China Securities Regulatory Commission (hereinafter referred to as the "CSRC") in the Official Reply on Approving the Raising of Nord's Two wing Graded Bond Securities Investment Fund (ZJXK [2011] No. 1691), and Nord Fund Management Co., Ltd. shall, in accordance with the Securities Investment Fund Law of the People's Republic of China, the Measures for the Operation and Management of Securities Investment Funds The Nord Double Wings Graded Bond Securities Investment Fund and the Prospectus of Nord Double Wings Graded Bond Securities Investment Fund are responsible for public offering. The original fund was a contractual open-ended fund with an indefinite duration. The initial establishment of the fund raised a total of 403647325.12 yuan, excluding the interest of subscription funds, which was verified by the capital verification report of PricewaterhouseCoopers Zhong Tian Yan Zi (2012) No. 020. After filing with the China Securities Regulatory Commission, the Fund Contract of Nord Double Wings Hierarchical Bond Securities Investment Fund officially came into force on February 16, 2012. The total fund shares on the effective date of the fund contract were 403706862.48 fund shares, including 269098125.12 Class A shares of Nord Double Wings Hierarchical Bond Securities Investment Fund (hereinafter referred to as "Double Wings A"), 134549200.00 Class B shares of Nord Double Wings Graded Bond Securities Investment Fund (hereinafter referred to as "Double Wings B"); The interest of subscription funds is equivalent to 59537.36 fund shares, of which 32930.95 are for Double A and 26606.41 are for Double B. At the end of the fundraising, the share ratio of double wing A and double wing B was 1.99984725:1. The Fund Manager of the Fund is Nord Fund Management Co., Ltd., and the Fund Custodian is Huaxia Bank Co., Ltd.
In accordance with the relevant provisions of the Fund Contract of Nord Double Wings Hierarchical Bond Securities Investment Fund and the Prospectus of Nord Double Wings Hierarchical Bond Securities Investment Fund, within three years from the effective date of the fund contract, Double Wings A will be opened every six months, and Double Wings B will be closed and listed for trading. In principle, the share balance of Double Wing A shall not exceed twice the share balance of Double Wing B within three years from the effective date of the fund contract. Double wing B operates in a closed manner. The closing period is from the effective date of the fund contract to the corresponding date three years later. No subscription and redemption are accepted during the closing period. All the remaining income of the original fund after deducting the accrued income of Double Wing A belongs to Double Wing B, and the loss is borne by Double Wing B to the extent of the net asset value of Double Wing B. Double A obtains the agreed income according to the provisions of the fund contract, and its rate of return will be set and announced once every open day. The calculation formula is: the annual rate of return (simple interest) of Double A=1.3 × 1-year bank fixed deposit interest rate, and the annual rate of return is rounded to the second place after the decimal point. On each open day of Double A, the Fund Manager resets the annual return rate of Double A according to the benchmark interest rate for one-year bank fixed deposits of financial institutions published and implemented by the People's Bank of China on that day.
After the fund contract takes effect, the net value of the fund units of Double A shall be calculated on the opening day of Double A, and the net value of the fund units of Double A and Double B shall be calculated on the expiration date of the closing period of Double B respectively; On the basis of calculating the net asset value of the Fund, the Fund Manager shall calculate and announce the reference net value of the Fund units of Double A and Double B respectively in the principle of "virtual liquidation". The calculation date of the reference net value of the Fund units of Double A does not include the opening day of Double A. At the expiration of three years after the fund contract comes into effect, the original fund will be converted to listed open-ended fund (LOF), and the original fund will no longer be graded. The fund units of Double A and Double B will be converted to listed open-ended fund (LOF) shares based on the net value of their respective fund units, and the fund subscription and redemption business will be handled.
With the approval of Shenzhen Stock Exchange (hereinafter referred to as "Shenzhen Stock Exchange") SZSZ [2012] No. 89, 6672791.00 fund units of the original Fund Shuangyi B (150068) were listed on the Shenzhen Stock Exchange on April 23, 2012. The unlisted fund units are kept off the market, and the fund unit holders can transfer them to the Shenzhen Stock Exchange through the cross system re custody business before they can be listed and circulated.
The graded operation period of the original fund expired on February 16, 2015. With the consent of the Shenzhen Stock Exchange SZS [2015] No. 56 Notice on Termination of Listing, the listing of the original Fund Double B was terminated on February 16, 2015. The benchmark date of conversion of the Fund is February 16, 2015. On the benchmark date of conversion, the fund units of Double A and Double B are converted into listed open-ended fund (LOF) units based on the net value of their respective fund units.
With the approval of SZS [2015] No. 94 document of Shenzhen Stock Exchange, 149006343.00 fund units of the Fund were listed and traded in Shenzhen Stock Exchange on March 20, 2015. The unlisted fund units can be listed and circulated only after the holders of fund units have transferred their cross system custody to the Shenzhen Stock Exchange for custody outside the OTC market.
In accordance with the Securities Investment Fund Law of the People's Republic of China, Nord Double Wings Classified Bond Securities Investment Fund Fund Contract and the latest Nord Double Wings Bond Securities Investment Fund (LOF) Prospectus, the investment scope of the Fund is financial instruments with good liquidity, It includes stocks (including small and medium-sized board, growth enterprise board and other stocks approved to be listed by the CSRC), bonds, money market instruments, warrants, asset-backed securities and other financial instruments that are legally issued and listed in China (but must comply with the relevant provisions of the CSRC). The Fund mainly invests in fixed income financial instruments such as government bonds, financial bonds, corporate bonds, corporate bonds, subordinated bonds, short-term financing bonds, government agency bonds, central bank bills, interbank deposits, repurchases, convertible bonds, separable bonds, asset securitization products and other fixed income financial instruments issued and listed in accordance with the law in China. The Fund may also invest in non fixed income financial instruments. The Fund does not directly purchase equity assets such as stocks and warrants from the secondary market, but can participate in the subscription of new shares and additional new shares in the primary market, and can hold stocks formed by convertible bonds into shares, warrants distributed for stocks held, and warrants generated by investment in separable bonds, And other types of non fixed income permitted by laws and regulations or the CSRC. The Fund will sell stocks, warrants and other assets held for the above reasons within 90 trading days from the date when they can be traded. The proportion of the Fund's investment in fixed income securities such as bonds shall not be less than 80% of the Fund's net asset value, of which the proportion of cash held or government bonds with a maturity date of less than one year shall not be less than 5% of the Fund's net asset value; The proportion of the Fund's investment in non fixed income assets shall not exceed 20% of the Fund's net asset value. The benchmark of the Fund's performance is the China Bond Index.
The financial statements were approved and reported by Nord Fund Management Co., Ltd., the fund manager of the Fund, on March 25, 2016.
7.4.2 Preparation basis of accounting statements
The financial statements of the Fund are in accordance with the Accounting Standards for Business Enterprises - Basic Standards, various specific accounting standards and relevant regulations (hereinafter collectively referred to as "Accounting Standards for Business Enterprises") issued by the Ministry of Finance on February 15, 2006 and later periods, and the XBRL Template No. 3 of Securities Investment Fund Information Disclosure<Annual Report and Semi annual Report>issued by the CSRC The Guidelines for Securities Investment Fund Accounting Business, Nord Double Wings Bond Securities Investment Fund (LOF) Fund Contract issued by the China Securities Investment Fund Association (hereinafter referred to as the "China Fund Association") and the relevant regulations issued by the China Securities Regulatory Commission and the China Fund Association as listed in Note 7.4.4 of the financial statements, as well as the allowed preparation of fund industry practice.
7.4.3 Statement of compliance with Accounting Standards for Business Enterprises and other relevant regulations
The 2015 financial statements of the Fund comply with the requirements of the Accounting Standards for Business Enterprises, and truly and completely reflect the financial position of the Fund as of December 31, 2015, as well as the operating results and changes in the net value of the Fund in 2015 and other relevant information.
7.4.4 Explanation of the consistency between the accounting policies and accounting estimates adopted in the reporting period and the latest annual report
The accounting policies and accounting estimates adopted in this reporting period are consistent with the latest annual report.
7.4.5 Description of changes in accounting policies and accounting estimates and error correction
7.4.5.1 Description of accounting policy changes
There is no change in accounting policies of the Fund during the reporting period.
7.4.5.2 Description of changes in accounting estimates
Fixed income varieties (except convertible bonds, asset-backed securities and private placement bonds) listed or transferred on the stock exchange, in view of their trading volume and frequency are insufficient to provide continuous pricing information, During the reporting period, the Fund adopted the valuation results independently provided by China Securities Index Co., Ltd. in accordance with the Valuation and Accounting Working Group of China Securities Investment Fund Association on the Valuation Treatment Standards of Fixed Income Varieties in the First Quarter of 2015 to determine the fair value.
7.4.5.3 Description of error correction
Correction of accounting errors not required to be explained by the Fund during the reporting period.
7.4.6 Taxes
According to the Notice of the Ministry of Finance and the State Administration of Taxation on Tax Issues Related to Open ended Securities Investment Funds (CS [2002] No. 128), the Notice of the Ministry of Finance and the State Administration of Taxation on Several Preferential Policies for Enterprise Income Tax (CS [2008] No. 1), the Notice of the Ministry of Finance and the State Administration of Taxation on Issues Related to the Implementation of Dividends and Dividends Differentiated Individual Income Tax Policies for Listed Companies (CS [2012] No. 85), and the Ministry of Finance and the State Administration of Taxation (CS [2015] No. 101 Notice on Issues Related to Differentiated Individual Income Tax Policies for Dividends and Bonuses of Listed Companies and other relevant financial and tax regulations and practical operations, the main taxes are listed as follows:
(1) Raising funds by issuing funds does not belong to the scope of business tax collection, and no business tax is levied. The business tax shall not be levied on the differential income from the purchase and sale of stocks and bonds by the Fund.
(2) The income of the fund from the securities market, including the income from the difference between buying and selling stocks and bonds, dividends and bonuses from equity, interest income from bonds and other income, shall not be subject to corporate income tax for the time being.
(3) For the interest income of enterprise bonds obtained by the fund, the enterprise issuing the bonds shall withhold and remit 20% of the individual income tax when paying the interest to the fund. For the dividend income obtained by the fund from a listed company, if the shareholding period is within one month (including one month), the full amount of the dividend income shall be included in the taxable income; If the shareholding period is more than one month to one year (including one year), 50% will be included in the taxable income temporarily; If the shareholding period is more than one year, 25% of the amount will be included in the taxable income temporarily before September 8, 2015, and the individual income tax will be temporarily exempted from September 8, 2015. For the restricted shares of listed companies held by the Fund, the dividends and bonus income obtained after the lifting of the ban shall be taxed in accordance with the above provisions, and the holding time shall be calculated from the date of lifting the ban; Dividends and bonus income obtained before the lifting of the ban will continue to be temporarily reduced by 50% and included in taxable income. The personal income tax rate of 20% is applied to the above income.
(4) The fund shall pay stamp tax on stock transactions at the tax rate of 0.1% when selling stocks, and no stamp tax on stock transactions shall be levied when buying stocks.
7.4.7 Relationship between related parties
Name of related party
Relationship with the Fund
Nord Fund Management Co., Ltd. ("Nord Fund")
Fund Manager, Fund Sales Agency
Huaxia Bank Co., Ltd. ("Huaxia Bank")
Fund Custodian, Fund Sales Agency
Tsinghua Holdings Co., Ltd. ("Tsinghua Holdings")
Shareholders of the Fund Manager
Yixin Huimin Investment Management (Beijing) Co., Ltd. ("Yixin Huimin")
Shareholders of the Fund Manager (since July 16, 2015)
Changjiang Securities Co., Ltd. ("Changjiang Securities")
Former shareholders of the fund manager (before July 16, 2015)
Lord Abbett & Co. LLC
Former shareholders of the fund manager (before July 16, 2015)
Note: 1. On July 16, 2015, Lord Abbett&Co. LLC transferred 49% of its shares in Nord Fund to Yixin Huimin and Changjiang Securities transferred 30% of its shares in Nord Fund to the original shareholder Tsinghua Holdings after being reviewed and approved by the shareholders' meeting of Nord Fund and approved by the CSRC's ZJXK [2015] No. 497 document. After the equity transfer, the shareholders and equity ratio of Nordisk Fund are: Tsinghua Holdings holds 51%, and Yixin Huimin holds 49%.
2. The following connected transactions are concluded in the normal business scope according to the general commercial terms.
7.4.8 Related party transactions during the reporting period and the comparable period of the previous year
7.4.8.1 Transactions through related party transaction units
7.4.8.1.1 Stock trading
The Fund did not conduct stock trading business through related party trading units during the reporting period and the comparable period of the previous year.
7.4.8.1.2 Warrant transaction
The Fund has not conducted warrant trading business through related party trading units during the reporting period and the comparable period of the previous year.
7.4.8.1.3 Commissions payable to related parties
The Fund has no commission payable to related parties arising from transactions through related party transaction units during the reporting period and the comparable period of the previous year.
7.4.8.2 Remuneration of related parties
7.4.8.2.1 Fund management fee
Unit: RMB
project
Current period
January 1, 2015 to December 31, 2015
Comparable period of the previous year
January 1, 2014 to December 31, 2014
Management fees payable by the fund incurred in the current period
1,250,067.15
1,515,670.48
Including: customer maintenance fees paid to sales agencies
125,555.86
148,083.14
Note: The remuneration paid to the fund manager shall be accrued at the annual fee rate of 0.70% of the net asset value of the fund on the previous day, accumulated day by day to the end of each month, and paid monthly. The calculation formula is:
Daily manager's remuneration=the net asset value of the fund on the previous day × 0.70%/days of the year.
7.4.8.2.2 Fund custody fee
Unit: RMB
project
Current period
January 1, 2015 to December 31, 2015
Comparable period of the previous year
January 1, 2014 to December 31, 2014
Custody fees payable for funds incurred in the current period
357,162.09
433,048.77
Note: The custodian fee paid to the Fund Custodian shall be accrued at the annual fee rate of 0.20% of the net asset value of the Fund on the previous day, accumulated day by day to the end of each month, and paid monthly. The calculation formula is:
Daily custody fee=net asset value of the fund on the previous day × 0.20%/days of the year.
7.4.8.2.3 Sales service fee
Unit: RMB
Name of each related party receiving sales service fee
Current period
January 1, 2015 to December 31, 2015
Sales service fees payable by the fund in the current period
Huaxia Bank
198,932.50
Nord Fund
54,198.76
Changjiang Securities
257.53
Total
253,388.79
Name of each related party receiving sales service fee
Comparable period of the previous year
January 1, 2014 to December 31, 2014
Sales service fees payable by the fund in the current period
Huaxia Bank
231,982.09
Nord Fund
175,294.31
Changjiang Securities
501.00
Total
407,777.40
Note: The sales service fee paid to the fund sales agency shall be accrued at the annual fee rate of 0.40% of the net asset value of the fund on the previous day, accumulated day by day to the end of each month, and paid to Nord Fund Management Co., Ltd. on a monthly basis, and then calculated and paid to each fund sales agency by Nord Fund Management Co., Ltd. The calculation formula is:
Daily sales service fee=net asset value of the fund on the previous day × 0.40%/number of days in the current year.
7.4.8.3 Bond (including repurchase) transactions in inter-bank market with related parties
During the reporting period and the comparable period of the previous year, the Fund did not conduct bond (including repurchase) transactions in the interbank market with related parties.
7.4.8.4 Investment of related parties in the Fund
7.4.8.4.1 The Fund Manager's investment in the Fund with its own capital during the reporting period
The Fund Manager did not use its own capital to invest in the Fund during the reporting period and the comparable period of the previous year.
7.4.8.4.2 Investment in the Fund by other related parties other than the Fund Manager at the end of the reporting period
At the end of the reporting period and the end of the previous year, there was no investment in the Fund by other related parties other than the Fund Manager.
7.4.8.5 Bank deposit balance kept by related parties and interest income generated in the current period
Unit: RMB
Name of related party
Current period
January 1, 2015 to December 31, 2015
Comparable period of the previous year
January 1, 2014 to December 31, 2014
Ending balance
Current interest income
Ending balance
Current interest income
Huaxia Bank
5,375,870.89
36,517.98
1,028,075.91
48,199.62
Note: Bank deposits of the Fund are kept by Huaxia Bank, the Fund custodian, and bear interest at interbank interest rates.
7.4.8.6 The Fund's participation in securities underwriting by related parties during the underwriting period
The Fund did not participate in the underwriting of securities by related parties during the underwriting period during the reporting period and the comparable period of the previous year.
7.4.8.7 Description of other related transactions
Other related transactions of the Fund that need not be explained during the current reporting period and the comparable period of the previous year.
7.4.9 Restricted negotiable securities held by the Fund at the end of the period (December 31, 2015)
7.4.9.1 Circulating restricted securities held at the end of the period for subscription of new/additional securities
At the end of the reporting period, the Fund did not hold tradable restricted securities held at the end of the reporting period due to subscription of new/additional securities.
7.4.9.2 Circulating restricted stocks held at the end of the period such as temporary suspension
At the end of the reporting period, the Fund did not hold tradable restricted stocks such as temporary trading suspension.
7.4.9.3 Bonds used as collateral in repurchase transactions of bonds at the end of the period
7.4.9.3.1 Bond repurchase in inter-bank market
As of December 31, 2015, at the end of the reporting period, the balance of securities sold for repurchase formed by the Fund's engagement in inter-bank market bond repurchase transactions was 18299772.55 yuan.
Monetary unit: RMB
Bond code
Bond name
Maturity date of repurchase
Valuation unit price at the end of the period
Quantity (piece)
Total valuation at the end of the period
101562045
15 Changsha Tongcheng MTN001
2016-01-06
100.29
100,000.00
10,029,000.00
041559074
15 Xin'ao CP002
2016-01-06
99.71
100,000.00
9,971,000.00
Total
200,000.00
20,000,000.00
7.4.9.3.2 Positive repurchase of bonds in the exchange market
As of December 31, 2015, at the end of the reporting period, the balance of securities sold for repurchase formed by the Fund's ongoing repurchase transactions of bonds at stock exchanges was 160163014.20 yuan, which was due from January 4, 2016 to January 25, 2016 (successively). Such transactions require that the bonds transferred by the Fund to the pledge library shall not be less than the balance of bond repurchase transactions after being converted into standard bonds according to the proportion specified by the stock exchange.
7.4.10 Other matters that help to understand and analyze the accounting statements
(1) Fair value
(a) Measurement method of fair value of financial instruments
The level of the fair value measurement result is determined by the lowest level of the input value that is important to the fair value measurement as a whole:
Level 1: Unadjusted quotation of the same assets or liabilities in the active market.
The second level: the directly or indirectly observable input values of related assets or liabilities except the input values of the first level.
Level 3: unobservable input values of related assets or liabilities.
(b) Financial instruments measured at fair value
(i) Fair value of financial instruments at all levels
As of December 31, 2015, the balance of the financial assets held by the Fund at fair value through profit or loss for the current period was 309748524.24 yuan, and there was no balance at the first and third levels (December 31, 2014: 297803044.80 yuan at the first level, 20162000.00 yuan at the second level, and no third level).
(ii) Significant changes between levels of fair value
For stocks and bonds listed on the stock exchange, if there are major events such as suspension of trading, inactive trading (including inactive trading at the time of the ceiling), or non-public issuance, the Fund will not list the fair value of relevant stocks and bonds in the first level between the date of suspension and the date of resumption of active trading, during the period of inactive trading and during the period of restriction on sales; And determine whether the fair value of relevant stocks and bonds should belong to the second level or the third level according to the impact of the unobservable input value used in the valuation adjustment on the fair value. For the fixed income varieties (except convertible bonds, asset-backed securities and private placement bonds) listed or transferred by listing on the stock exchange, the Fund has changed to use China Securities Index Co., Ltd. since March 30, 2015 in accordance with the Standards for Valuation Treatment of Fixed Income Varieties in the First Quarter of 2015 by the Valuation and Accounting Working Group of China Securities Investment Fund Association The valuation results provided independently determine the fair value (Note 7.4.5.2), and adjust the fair value of related bonds from the first level to the second level.
(iii) Balance of the third level fair value and current change amount
None.
(c) Non sustainable financial instruments measured at fair value
As of December 31, 2015, the Fund did not hold unsustainable financial assets measured at fair value (December 31, 2014: the same).
(d) Financial instruments not measured at fair value
Financial assets and liabilities not measured at fair value mainly include accounts receivable and other financial liabilities, and the difference between their book value and fair value is very small.
(2) Except for the fair value, as of the balance sheet date, the Fund has no other important matters that need to be explained.
§ 8 Portfolio report
8.1 Fund asset portfolio at the end of the period
Monetary unit: RMB
S/N
Project
Amount
Proportion in total fund assets (%)
1
Equity investment
-
-
Including: stock
-
-
2
Fixed income investment
309,748,524.24
95.25
Including: bonds
309,748,524.24
95.25
Asset backed securities
-
-
3
Precious metal investment
-
-
4
Financial derivatives investment
-
-
5
Redemptory financial assets for sale
-
-
Including: redemptory financial assets for sale purchased through outright repo
-
-
6
Total bank deposits and settlement provisions
8,451,775.02
2.60
7
Other assets
6,990,539.54
2.15
8
Total
325,190,838.80
100.00
8.2 Stock portfolio classified by industry at the end of the period
The Fund did not hold shares at the end of the reporting period.
8.3 Details of top ten stock investments ranked by the proportion of fair value in the net asset value of the fund at the end of the period
The Fund did not hold shares at the end of the reporting period.
8.4 Significant changes in stock portfolio during the reporting period
8.4.1 Details of stocks whose cumulative purchase amount exceeds 2% of the beginning net asset value of the fund or the top 20 stocks
Monetary unit: RMB
S/N
Stock code
Stock name
Accumulated purchase amount in the current period
Proportion in the net asset value of the fund at the beginning of the period (%)
1
000089
Shenzhen Airport
21,451,355.90
9.83
2
600219
Nanshan Aluminum
17,365,390.31
7.96
3
601988
Bank of China
12,069,842.95
5.53
4
600037
Gehua Cable
8,756,988.39
4.01
5
601398
ICBC
7,623,847.86
3.49
6
601318
Ping An, China
7,154,759.20
3.28
7
002391
Evergreen
7,141,341.90
3.27
8
600067
Guancheng Datong
5,357,252.46
2.45
9
002521
Qifeng New Material
5,294,626.00
2.43
10
601139
Shenzhen Gas
4,766,266.29
2.18
11
603993
Luoyang Molybdenum Industry
3,408,073.58
1.56
12
600795
Guodian Power
1,476,648.18
0.68
13
601211
Guotai Jun'an
118,260.00
0.05
14
601985
China Nuclear Power
67,800.00
0.03
15
002762
Blond Rabbi
13,000.00
0.01
16
300476
Shenghong Technology
7,865.00
0.00
17
601368
Greentown Water
6,430.00
0.00
18
002770
Kedi Dairy
3,425.00
0.00
8.4.2 Details of shares whose cumulative selling amount exceeds 2% of the beginning net asset value of the fund or the top 20
Monetary unit: RMB
S/N
Stock code
Stock name
Accumulated sales amount in the current period
Proportion in the net asset value of the fund at the beginning of the period (%)
1
000089
Shenzhen Airport
18,511,257.24
8.48
2
600219
Nanshan Aluminum
15,684,602.48
7.19
3
601988
Bank of China
11,399,586.13
5.22
4
601318
Ping An, China
7,357,867.88
3.37
5
601398
ICBC
7,189,353.00
3.29
6
002391
Evergreen
6,815,744.42
3.12
7
600037
Gehua Cable
6,396,934.60
2.93
8
002521
Qifeng New Material
5,425,488.38
2.49
9
601139
Shenzhen Gas
5,047,940.64
2.31
10
600067
Guancheng Datong
4,941,666.65
2.26
11
603993
Luoyang Molybdenum Industry
2,934,412.61
1.34
12
600795
Guodian Power
1,426,912.54
0.65
13
601985
China Nuclear Power
279,000.00
0.13
14
601211
Guotai Jun'an
190,320.00
0.09
15
002762
Blond Rabbi
37,500.00
0.02
16
601368
Greentown Water
16,760.00
0.01
17
300476
Shenghong Technology
13,250.00
0.01
18
002770
Kedi Dairy
10,310.00
0.00
8.4.3 Total cost of buying shares and total income from selling shares
Unit: RMB
Total cost (transaction) of buying shares
102,083,173.02
Total income (transaction) from selling shares
93,678,906.57
8.5 Bond portfolio classified by bond varieties at the end of the period
Monetary unit: RMB
S/N
Bonds
Fair value
Proportion in net fund assets (%)
1
State bonds
74,879,942.50
51.77
2
Central Bank Bill
-
-
3
Financial bonds
8,000,800.00
5.53
Including: policy financial bonds
8,000,800.00
5.53
4
Corporate bonds
206,867,781.74
143.03
5
Enterprise short-term financing bonds
9,971,000.00
6.89
6
Medium term notes
10,029,000.00
6.93
7
Convertible bond
-
-
8
Inter bank deposit receipt
-
-
9
Others
-
-
10
Total
309,748,524.24
214.16
8.6 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 period
Monetary unit: RMB
S/N
Bond code
Bond name
Quantity (piece)
Fair value
Proportion in net fund assets (%)
1
010303
03 National debt (3)
456,000.00
47,369,280.00
32.75
2
112069
12 Mingpai Bonds
110,000.00
11,311,300.00
7.82
3
1380012
13 Yunnan Highway Investment Bond
100,000.00
10,783,000.00
7.46
4
1380320
13 Longyan Huijin Bond
100,000.00
10,780,000.00
7.45
5
112045
11 claims
100,000.00
10,575,000.00
7.31
8.7 Investment details of the top ten asset-backed securities ranked by the proportion of fair value in the net asset value of the fund at the end of the period
The Fund did not hold asset-backed securities at the end of the reporting period.
8.8 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.
8.9 Top five warrant investment details sorted by the proportion of fair value in the net asset value of the fund at the end of the period
The Fund did not hold warrants at the end of the reporting period.
8.10 Description of stock index futures trading invested by the Fund at the end of the reporting period
8.10.1 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 at the end of the reporting period.
8.10.2 Investment policy for the Fund to invest in stock index futures
The Fund did not hold stock index futures at the end of the reporting period.
8.11 Description of treasury bond futures transactions invested by the Fund at the end of the reporting period
8.11.1 Investment policy of current treasury bond futures
The Fund did not hold treasury bond futures at the end of the reporting period.
8.11.2 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 at the end of the reporting period.
8.11.3 Evaluation of current treasury bond futures investment
The Fund did not hold treasury bond futures at the end of the reporting period.
8.12 Notes to Portfolio Report
8.12.1 Composition of other assets at the end of the period
Unit: RMB
S/N
Name
Amount
1
Deposit
103,593.55
2
Receivables from securities settlement
-
3
Dividends receivable
-
4
Interest receivable
6,884,545.99
5
Subscription receivable
2,400.00
6
Other receivables
-
7
Deferred expenses
-
8
Others
-
9
Total
6,990,539.54
8.12.2 Details of convertible bonds held in the conversion period at the end of the period
The Fund did not hold convertible bonds in the conversion period at the end of the reporting period.
8.12.3 Explanation of restricted circulation of top ten stocks at the end of the period
The Fund did not hold shares at the end of the reporting period.
§ 9 Information of Fund Unitholders
9.1 Number and structure of fund share holders at the end of the period
Unit: copies
Number of holders
Fund shares held by each account
Holder structure
Institutional investors
Individual investors
Shares held
Proportion in total shares
Shares held
Proportion in total shares
407
357,370.55
140,914,527.48
96.88%
4,535,284.77
3.12%
9.2 Top ten holders of listed funds at the end of the period
S/N
Name of holder
Shares held
Proportion in total listing shares
1
Beijing International Trust Co., Ltd
92,632,673.00
63.69%
2
Beijing International Trust Co., Ltd
45,496,732.80
31.28%
3
Liu Xiaomei
619,195.05
0.43%
4
Hubei Jingshan Light Industry Machinery Co., Ltd
532,481.00
0.37%
5
Song Daosheng
420,841.00
0.29%
6
Hangzhou Iron and Steel Group Corporation (parent company) enterprise annuity plan China Merchants Bank Co., Ltd
388,738.00
0.27%
7
Sinochem Corporation Enterprise Annuity Plan Bank of Communications Co., Ltd
376,349.00
0.26%
8
Zhejiang Zhongxing Civil Air Defense Equipment Co., Ltd
252,860.39
0.17%
9
Tianjin Binhai Development Investment Holding Co., Ltd. Enterprise Annuity Plan Industrial and Commercial Bank of China
250,309.00
0.17%
10
Beijing Zhuoxina Technology Development Co., Ltd
217,701.45
0.15%
9.3 The Fund Manager's employees holding the Fund at the end of the period
project
Total number of shares held (copies)
Proportion in total fund shares
All practitioners of the Fund Manager hold the Fund
0.00
0.00%
9.4 At the end of the period, the employees of the fund manager hold the total amount range of the open-ended fund units
project
Quantity range of total fund units held (10000 shares)
The open-ended fund is held by the senior management of the company, the head of the fund investment and research department
0
The Fund Manager holds the Open ended Fund
0
§ 10 Change of open-ended fund shares
Unit: copy
Total fund shares on the effective date of the fund contract (February 16, 2012)
403,706,862.48
Total Fund Units at the Beginning of the Reporting Period
183,245,944.66
Total subscription shares of the Fund during the reporting period
40,258,135.78
Less: Total redeemed shares of the Fund during the reporting period
114,546,597.41
Share of fund split changes during the reporting period
36,492,329.22
Total fund units at the end of the reporting period
145,449,812.25
§ 11 Disclosure of major events
11.1 Resolution of Fund Unitholders' Meeting
There was no resolution of the general meeting of fund share holders during the reporting period.
11.2 Major personnel changes in the special fund custody department of the fund manager and fund custodian
(1) The Fund Manager announced on August 19, 2015 that Mr. Yang Yifeng left the office of Chairman of the Company for personal reasons and Mr. Pan Fuxiang acted as Chairman of the Company on his behalf. The Fund Manager announced on November 18, 2015 that Mr. Pan Fuxiang left his post as the General Manager of the Company, served as the Chairman of the Company and acted as the General Manager of the Company. The Fund Manager announced on December 26, 2015 that Mr. Hu Zhiwei was the General Manager of the Company and Mr. Luo Kai was the Deputy General Manager of the Company. The Company has reported the above changes to relevant regulatory authorities for filing.
(2) During the reporting period, there was no major personnel change in the senior management of the special fund custody department of the Fund Custodian.
11.3 Litigation involving fund manager, fund property and fund custody business
During the reporting period, there was no litigation involving the Fund Manager, the Fund property and the Fund custody business.
11.4 Change of fund investment strategy
There was no significant change in the Fund's portfolio strategy during the reporting period.
11.5 Accounting firms auditing for the Fund
During the reporting period, PricewaterhouseCoopers Zhongtian Certified Public Accountants (special general partnership) was employed as the fund auditor of the Fund in 2015. During the reporting period, the remuneration payable to the accounting firm was 60000 yuan. PricewaterhouseCoopers Zhongtian Certified Public Accountants (special general partnership) served as the capital verification agency raised by the Fund and provided relevant services.
11.6 The manager, custodian and its senior management personnel are subject to inspection or punishment
The Fund Manager and Fund Custodian of the Fund involved in the custody business institutions and their senior managers have not been inspected or punished.
11.7 Relevant information about the fund renting the trading unit of the securities company
11.7.1 The Fund rents the trading unit of the securities company for stock investment and commission payment
Monetary unit: RMB
Name of securities dealer
Number of trading units
Stock trading
Commission payable to the broker
Remarks
Transaction amount
Proportion in total transaction amount of current shares
Commission
Proportion in the total amount of current commission
Haitong Securities
1
62,865,356.53
67.11%
57,232.44
67.11%
-
CITIC Securities
1
30,813,550.04
32.89%
28,053.18
32.89%
-
Note: According to the relevant provisions of the CSRC, after comparing the financial status, operating status and research level of several securities operating institutions, the fund manager rented the fund trading unit from several securities companies.
1. The selection criteria of fund specific trading units are as follows:
(1) The company is in good financial condition, stable and standard operation behavior, sound internal control system, and has a good reputation in the industry;
(2) Having efficient and safe communication conditions necessary for the operation of the Fund, and trading facilities meeting the needs of the Fund for securities trading;
(3) Have strong research ability, be able to timely, comprehensively and regularly provide high-quality macro, industry, company and securities market research reports, and be able to provide special research reports according to the special requirements of fund investment;
2. The selection procedure of fund specific trading unit is as follows:
(1) The fund manager shall determine the securities operating institution that selects the trading unit after investigation according to the above standards;
(2) The fund manager and the selected securities operating institution shall sign a transaction unit lease agreement.
3. Changes in the rental of trading units of securities companies during the reporting period:
During the reporting period, the fund manager did not newly rent or withdraw the special trading seat for the fund.
11.7.2 The Fund leases the trading unit of the securities company for other securities investment
Monetary unit: RMB
Name of securities dealer
Bond trading
Repurchase transaction
Warrant transaction
Transaction amount
Proportion in total transaction amount of current bonds
Transaction amount
Proportion in total repurchase transactions of the current period
Transaction amount
Proportion in the total transaction amount of warrants in the current period
Haitong Securities
918,705,541.12
73.85%
8,272,400,000.00
78.08%
-
-
CITIC Securities
325,337,000.69
26.15%
2,322,318,000.00
21.92%
-
-
§ 12 Other important information affecting investors' decisions
None.
Nord Fund Management Co., Ltd
March 30, 2016