Minsheng Jiayin Zhaoli One year holding period hybrid securities investment fund (Minsheng Jiayin Zhaoli
One year holding period of mixed C shares)
Summary of Fund Product Information
Prepared on: February 19, 2021
Date of delivery: February 26, 2021
This summary provides important information about the Fund and is part of the Prospectus.
Please read the complete prospectus and other sales documents before making an investment decision.
1、 Product Overview
Short name of the fund Minsheng Jiayin Zhaoli One year holding period fund code 010574
blend
Subordinate Fund Abbreviation Minsheng Jiayin Zhaoli One year Holding Period Subordinate Fund Code 010575
Mix C
Fund Management People's Health Bank Plus Fund Management Co., Ltd. Fund Custodian Postal Savings Bank of China Co., Ltd
Company Limited
Effective date of fund contract - listing exchange and listing date --
Fund type Mixed transaction currency RMB
Operation mode Other open frequency One year holding period
Started as the Fund Manager of the Fund-
Li's Date Fund Manager Lu Xin
Securities practice date: July 1, 2006
After other Fund Contracts come into force, the number of Fund Unitholders is less than 200 or
Where the net asset value of a fund is less than 50 million yuan, the fund manager shall disclose such information in the regular report
Dew; In case of any of the above circumstances for 60 consecutive working days, the Fund Manager shall, within 10 working days, notify the CSRC
The Regulatory Commission reports and proposes solutions, such as changing the operation mode, merging with other funds or terminating the fund partnership
Same, and a general meeting of fund share holders shall be held within 6 months for voting.
2、 Fund investment and net worth performance
（1） Investment objectives and strategies
Please read Part IX "Fund Investment" of the Prospectus for details
The investment objective is to pursue sustainable and stable returns on the basis of strict risk control and high liquidity.
Investment Scope The investment scope of the Fund includes stocks (including the main board, SME board, GEM and other investments permitted by the CSRC
Stocks, bonds (including treasury bonds, financial bonds, corporate bonds, corporate bonds, and local governments
Bonds, subordinated bonds, convertible bonds, separate transaction convertible bonds, exchangeable bonds, central bank notes, medium-term notes
Short term financing bonds (including ultra short term financing bonds) and other bonds allowed by the CSRC to invest), asset support certificates
Bonds, bond repurchase, stock index futures, treasury bond futures, stock options, bank deposits, interbank certificates of deposit, cash and
Other financial instruments permitted by laws and regulations or the CSRC to be invested by the Fund (subject to the relevant regulations of the CSRC
).
If laws and regulations or regulatory authorities allow the Fund to invest in other varieties in the future, the Fund Manager shall perform appropriate procedures
After that, it can be included in the scope of investment.
Main investment strategies The Fund aims to focus on risk control, and control through strict asset allocation strategy and individual bond selection strategy
Downward risk, use diversified investment strategies to achieve stable appreciation of fund assets.
Performance comparison benchmark: yield of China Bond Composite Index × 80%+yield of Shanghai Shenzhen 300 Index × 15%+yield of Hang Seng Composite Index × 5%.
Risk return characteristics The Fund is a hybrid securities investment fund with higher expected risk and return than bond funds and money market funds
Gold, but lower than equity funds. The Fund will invest in the underlying stocks of the Hong Kong Stock Connect, and it is required to undertake the business investment under the Hong Kong Stock Connect mechanism
Unique risks caused by differences in the capital environment, investment target, market system and trading rules.
（2） Portfolio Asset Allocation Chart/Regional Allocation Chart
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（3） Annual net value growth rate of the fund since the effectiveness of the fund contract/in the last ten years (whichever is shorter) and comparison with the performance of the same period
Comparison chart of benchmark
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3、 Expenses involved in investing in the Fund
（1） Fund sales related expenses
The following fees are charged in the process of subscribing/subscribing/redeeming funds:
Fee type share (S) or amount (M)/holding period (N) Charging method/fee remarks
rate
Subscription fee M ≥ 0.0 yuan/transaction-
Subscription fee (pre charge) M ≥ 0.0 yuan/transaction-
Redemption fee N ≥ 0 day 0.0%-
Note: The subscription rate and subscription rate in the above table are applicable to non pension customers investing in the Fund. For pension customers investing in the Fund
The account can enjoy a discount of 10% of the subscription rate and subscription rate in the fund manager's direct marketing center, but for the subscription rate and
If the subscription rate is a fixed amount, pension customers shall follow the rate provisions in the above table and no longer enjoy preferential rates.
（2） Fund operation related expenses
The following expenses will be deducted from the fund assets:
Fee category Charging method/annual fee rate
Management fee 0.80%
Custody fee 0.20%
Sales service fee 0.50%
Note: Information disclosure fees, accounting fees, attorney fees, legal fees and arbitration fees related to the Fund after the Fund Contract of the Fund comes into effect
The expenses of the general meeting of fund share holders and the expenses and taxes incurred from trading securities and funds shall be deducted from the fund assets according to the actual amount incurred.
4、 Risk disclosure and important tips
（1） Risk disclosure
The Fund does not provide any guarantee. Investors may lose their investment principal.
The investment is risky, and investors should carefully read the Prospectus and other sales documents of the Fund when purchasing the Fund.
The Fund's unique risks
1. Investment risk of stock index futures
Leverage risk: the existence of leverage due to the use of margin trading in stock index futures may result in greater earnings volatility of fund assets.
Basis risk: When using stock index futures to hedge market system risk, the fund assets may be affected by the stock index futures contract and the underlying index price
Assume basis risk due to inconsistent direction of change. Due to the basis risk, when the stock index futures contract is extended, the fund assets may be
The abnormal change of the price difference between the stock index futures contracts will cause the risk of extension.
Liquidity risk when stock index futures are extended: the stock index futures positions held by the Fund need to be extended, and the stock indexes held by the Fund need to be closed
If the futures contract is replaced by the stock index futures contract of other months, when the liquidity of the stock index futures market is poor and the trading volume is insufficient, it will lead to extension
The operation is more difficult to implement and the transaction cost increases, which may have an adverse impact on the fund assets.
Cash management risk brought by the futures mark to market settlement system: the stock index futures adopt the margin trading system, and the margin account is not available on the same day
Debt settlement system, high capital management requirements. When the market continues to fluctuate in an unfavourable direction, resulting in insufficient futures margin, if it fails to
Make up the margin within the time limit of, and the position will be compulsorily closed according to the regulations, which may bring more than expected losses to the fund assets.
Maturity risk: when the stock index futures contract expires, if the Fund's account still holds the open position contract, the Exchange will settle according to the delivery
The price carries out cash delivery of the contract held in the account, so it is impossible to continue to hold the expired contract, with maturity risk.
Counterparty risk: when the asset manager uses the fund assets to invest in stock index futures, it will try its best to choose a good credit status and risk control
As a broker, the futures company with strong ability cannot prevent the selected futures company from violating the rules in the trading process under extreme circumstances
The fund assets suffer losses due to illegal operation or bankruptcy liquidation.
Joint and several risks: the clearing member that settles the fund assets or other investors under the clearing member have insufficient margin and have not
When the fund can be replenished within the specified time, or the brokerage account of the clearing member is forced to be closed by China Financial Exchange due to other reasons, the fund assets
It may suffer losses due to the forced closing of positions.
The risk that the open position contract cannot continue to be held: due to changes in national laws, regulations and policies, changes in the trading rules of China Financial Exchange
Due to the introduction of emergency measures and other reasons, the open position contracts held by the fund assets may not continue to be held, and the fund assets must bear the resulting
Losses.
2. Investment risk of treasury bond futures
The investment in treasury bond futures may face market risk, basis risk and liquidity risk. Market risk is caused by the fluctuation of futures market price
The risk of changes in the value of futures contracts held. Basis risk is one of the unique risks of the futures market, which refers to the difference between futures and spot
The risk that the fluctuation of price difference will affect the hedging or arbitrage effect and cause unexpected profits and losses. Liquidity risk can be divided into two categories:
The category is liquidity risk, which refers to the risk that futures contracts cannot establish or close positions at the desired price in a timely manner. Such risk is often caused by
The lack of breadth or depth of the market; The other is the amount of capital risk, which means that the amount of capital can not meet the margin requirements, so that the
The position faces the risk of being forced to close.
3. Investment risk of asset-backed securities
The Fund's investment in fixed income assets includes asset-backed securities into its investment scope, which may bring the following risks:
① Credit risk: the debtor of the asset-backed securities invested by the Fund defaults, or the settlement defaults in the course of trading, or
The decline in the credit quality of asset-backed securities has led to a decline in the price of securities, resulting in loss of fund assets.
② Interest rate risk: market interest rate fluctuations will lead to changes in the yield and price of asset-backed securities. Generally speaking, if the market interest rate
If the rate increases, the Fund will face the risk of price decline and principal loss when holding asset-backed securities. If the market interest rate decreases
The reinvestment income of holding securities interest will face the risk of decline.
③ Liquidity risk: affected by the size of the asset-backed securities market and the level of transaction activity, asset-backed securities may not be available in the same
A large amount of buying or selling at the price level has a certain liquidity risk.
④ Prepayment risk: the debtor may prepay due to changes in interest rates and other reasons, which will make the fund assets face reinvestment
Risk.
⑤ Operational risk: due to defects in internal control or human factors during the operation of each link of the fund
Risks caused by operational errors or violations of operating procedures, such as unauthorized transactions, transaction errors, IT system failures and other risks.
⑥ Legal risk: due to laws and regulations, some market behaviors are restricted or the contract cannot be executed normally, resulting in the fund
Loss of property.
4. Investment risk of Hong Kong Stock Connect
① Risk of Hong Kong stock trading failure
There is a daily limit during the pilot period of Hong Kong Stock Connect business. At the pre opening stage of the Stock Exchange of Hong Kong Limited, the quota of the day is used
If it is completed, the newly added purchase order declaration will face the risk of failure; During the continuous trading period of the Stock Exchange, if the quota is used up on that day
The Fund will face the risk of not being able to buy through the Hong Kong Stock Connect. If the relevant business rules of Hong Kong Stock Connect change in the future
Business rules shall prevail.
② Exchange rate risk
The Fund is raised and valued in RMB, but the Fund invests in the Hong Kong market through the Hong Kong Stock Connect. Exchange rate change of Hong Kong dollar to RMB
The conversion will affect the value of the Fund's assets denominated in RMB, resulting in potential risks to the Fund's assets. RMB against Hong Kong dollar
The fluctuation of exchange rate may also increase the fluctuation of the net value of the fund, thus affecting the performance of the fund. In addition, due to the exchange rate in the operation of the fund
From the exchange rate publishing agency, if the exchange rate publishing agency has a delay in publishing the exchange rate or an error in the exchange rate data, it may
Operation or investors' decisions have adverse effects.
③ Risks in overseas markets
The Fund invests in the Hong Kong market through the trading interconnection mechanism between the mainland and the Hong Kong stock market, and the investment will be subject to the macro economy of the Hong Kong market
Economic operation, monetary policy, fiscal policy, tax policy, industrial policy, trading rules, settlement, custody and other operational risks
The fluctuation and change of the above factors may expose the fund assets to potential risks.
5. Risk of non redemption within the shortest holding period
For each fund unit, the Fund has set a minimum holding period of one year, and investors can only hold the shares on the end of the minimum holding period
The application for redemption can only be submitted from the next working day (inclusive) of, facing the risk of being unable to redeem within the shortest holding period.
6. Investment risk of stock options
The investment scope of the Fund includes stock options. The risks of stock options mainly include market risk, liquidity risk and margin risk
Insurance, credit risk and operational risk. Market risk refers to the price fluctuation of derivatives due to the change of underlying price. Liquidity risk
It refers to the risk generated when the fund trading volume is greater than the trading volume that can be quoted in the market. Margin risk refers to the failure to raise funds in time to meet the construction requirements
Risks arising from the establishment or maintenance of margin required for derivative contract positions. Credit risk refers to the counterparty's unwillingness or inability to perform the contract
Risk. Operational risk refers to losses caused by trading process, trading system, personnel negligence, or other unexpected time.
（2） Important tips
The registration of the Fund raised by the CSRC does not indicate that it makes substantive judgments or guarantees on the value and income of the Fund
It does not mean that there is no risk in investing in the Fund.
The Fund Manager shall manage and use the Fund assets in accordance with the principles of due diligence, good faith, prudence and diligence, but does not guarantee that the Fund will
Profitability is not guaranteed.
When a fund investor acquires fund units in accordance with the fund contract, he or she becomes the holder of fund units and the party to the fund contract.
If the summary information of the fund product information changes significantly, the fund manager will update it within three working days, and other information changes
The fund manager shall update it once a year. Therefore, the contents of this document may lag behind the actual situation of the Fund
Timely and accurately obtain the relevant information of the fund. Please also pay attention to the relevant temporary announcements issued by the fund manager.
As for the dispute settlement method of the Fund, investors should pay attention to the "Dispute Settlement" section of the Fund Contract.
5、 Other data query methods
For details of the following information, please refer to the fund manager's website www.msjyfund.com.cn or call the customer service hotline 400-8888-388 for consultation.
1. Fund contract, custody agreement, prospectus
2. Regular reports, including quarterly, interim and annual reports of the Fund
3. Net value of fund units
4. Fund sales agency and contact information
5. Other important information
6、 Other information
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