Morgan China Advantage Securities Investment Fund (Morgan China Advantage Hybrid A)
Gold product data summary update
Prepared on: October 26, 2023
Date of delivery: October 27, 2023
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
Fund Abbreviation: Morgan China Advantage Hybrid Fund Code: 375010
Subordinate Fund Abbreviation: Morgan China Advantage Hybrid A Subordinate Fund Code: 375010
Morgan Fund Management (China) China Construction Bank Co., Ltd
Fund Manager Fund Custodian
Limited Company
Effective date of fund contract: September 15th, 2004
Fund type Mixed transaction currency RMB
Operation mode: ordinary, open, open, frequency: every open day
Start to serve as the Fund
2019-03-29
Date of fund manager
Fund Manager Du Meng
Securities practice date: July 1, 2002
2、 Fund investment and net worth performance
（1） Investment objectives and strategies
For details, please read Chapter IX "Investment of the Fund" of the Prospectus.
On the basis of long-term investment as the basic principle, the Fund adopts strict investment discipline
And risk management means, effectively combine strategic asset allocation with investment opportunity, and carefully select
Investment target: Chinese enterprises with international comparative advantage in the trend of economic globalization
To actively invest, provide domestic investors with international level financial services and seek fund assets
Long-term stable appreciation.
The investment scope of the Fund includes stocks, depositary receipts, bonds, laws and regulations or the CSRC
Other permitted investment varieties. The scope of stock investment is all A-shares legally issued in China,
The main types of bond investment include government bonds, financial bonds, corporate bonds, repurchase, short-term bills, and
Convertible bonds and other types of bonds allowed to invest by the CSRC. Under normal circumstances,
The proportion of the Fund's investment in stocks is 30% - 95% of the total value of the Fund's assets
The proportion of investment scope is 0-50% of the total value of fund assets, but cash or government bonds with maturity within one year
The bonds shall not be less than 5% of the net asset value of the fund. The Fund's stock investment focuses on those dynamic developments
For listed companies with comparative advantages and based on the international competitive market, the proportion of investment in this part will not be low
80% of the Fund's equity assets.
In the future, when permitted by relevant laws and regulations, except for fund assets in cash
All the remaining fund assets can be used for stock investment.
The Fund fully draws on the globally effective investment philosophy and technology of Morgan Asset Management Group,
The main investment strategy examines China's economic development from an international perspective, and compares the development trend of the domestic industry with the value of listed companies
Judge the integration of the global economy into the comprehensive consideration, through the organic qualitative/quantitative rigorous analysis
Combine, accurately grasp the comparative advantages of countries/regions and listed companies, and finally achieve the goal of listed companies
Reasonable evaluation of internal value of the company, correct implementation of portfolio asset allocation and risk management.
The Fund takes stock investment as the main body, and adopts "from bottom to bottom" in stock selection and asset allocation
Top up and top down investment strategies. According to the specific characteristics of the domestic market
Jin actively used the research resources of Morgan Asset Management Group in the global market
The superior value evaluation system of the concept distinguishes the quality of individual stocks, and combines with the long-term in-depth local company survey
Research and conduct strict and prudent analysis of the fundamentals and market, and screen out the listed company shares that focus on
Tickets. The asset allocation level includes category asset allocation and industry asset allocation
Strategic regulation was implemented among the three asset classes of stocks, bonds and cash, and the global/
After evaluating the regional industry effect, determine the industry asset allocation weight, and closely monitor the overall team
Combine the risk and return characteristics to finally effectively improve the liquidity, stability and profitability of the portfolio.
Specific investment strategies include: advantageous value analysis, focusing on five advantageous listed companies, asset allocation
Purchase strategy, bond investment management, and depositary receipts investment strategy.
Performance comparison benchmark: CSI 300 index yield × 70%+China Bond total index yield × 30%
The Fund is a hybrid fund product, and the expected risk and return level is higher than that of bond funds and
Money market funds are lower than equity funds.
According to the Measures for the Administration of the Suitability of Securities and Futures Investors implemented on July 1, 2017, the Fund
The risk return characteristic manager and relevant sales agencies have re rated the risk of the Fund
It does not change the substantive risk return characteristics of the Fund, but due to the change of risk classification standards
The risk rating statement of the Fund may change accordingly, and the specific risk rating results shall be
The rating results provided by the fund manager and the sales agency shall prevail.
（2） Portfolio Asset Allocation Chart/Regional Allocation Chart
Portfolio Asset Allocation Chart
（3） The annual net value growth rate of the Fund in the last ten years and its comparison with the benchmark performance in the same period
Note: 1 Past performance of the Fund does not represent future performance.
2. Since December 7, 2013, the Fund has changed the benchmark of fund performance from "the yield of FTSE China A600 Index × 70%+
The yield of SSE treasury bond index × 25%+interbank deposit rate × 5% was changed to "yield of CSI 300 index × 70%+total of China bonds
Index return rate × 30% ".
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:
Share (S) or amount (M)
Expense Type Charging Method/Rate Remarks
/Holding period (N)
0 yuan ≤ M
Subscription fee (pre charge) 1 million yuan ≤ M
M ≥ 5 million yuan 1000 yuan/transaction
0 days ≤ N
7 days ≤ N
Redemption fee 1 year ≤ N
2 years ≤ N
N ≥ 3 years 0.00%
（2） Fund operation related expenses
The following expenses will be deducted from the fund assets:
Fee category Charging method/annual fee rate
Management fee 1.50%
Custody fee 0.25%
Those that can be disbursed from the fund assets in accordance with relevant national regulations and the Fund Contract
other expenses
cost.
Note: The fees and taxes incurred by the Fund in dealing with securities 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 they want to buy the Fund.
The risks of the Fund mainly include:
1. Market risk
The main risk factors include policy risk, economic cycle risk, interest rate risk and purchasing power risk.
2. Credit risk
3. Investment risk
4. Liquidity risk
5. Risk of enabling side pocket mechanism
6. Managing risk
7. Operational or technical risk
8. Compliance risk
9. Portfolio residual maturity management risk
10. Risk of stock investment in science and technology innovation board
Main risk factors include: liquidity risk of science and technology innovation board stocks, delisting risk of science and technology innovation board enterprises, and investment concentration risk
Insurance, market risk, systematic risk, stock price fluctuation risk, policy risk
11. Risk of investment in depositary receipts
12. Risk of termination of fund manager's duties
13. Other risks
For complete risk disclosure of the Fund, please refer to the "Risk Disclosure" section of the Prospectus of the Fund.
（2） Important tips
The CSRC's approval of the Fund's offering does not indicate that it has made a substantive judgment on the value and income of the Fund or
The guarantee 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 must be profitable and does not guarantee the minimum return.
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.
All disputes arising from or in connection with the fund contract between the parties to the fund contract shall be settled through consultation
Or solve the problem through mediation. If the problem cannot be solved through consultation or mediation, the dispute can be submitted to the Shanghai Branch of China International Economic and Trade Arbitration Commission
The arbitration shall be conducted in accordance with the then effective arbitration rules of the China International Economic and Trade Arbitration Commission. The arbitral award shall be final and binding upon the parties
Everyone is binding.
If the summary information of the fund product information changes significantly, the fund manager will update it within three working days. Other information
In case of any change, the Fund Manager shall update it once a year. Therefore, compared with the actual situation of the Fund, the contents of this document may
If you need timely and accurate information about the fund, please also pay attention to the relevant temporary information released by the fund manager
Announcement, etc.
5、 Other data query methods
See the Fund Manager's website for the following information
Website: am.jpmorgan.com/cn Customer service hotline: 400-889-4888
● Fund contract, custody agreement, prospectus
● Regular reports, including quarterly, interim and annual reports of the Fund
● Net value of fund units
● Fund sales agency and contact information
● Other important data