HZBank(SH:600926) Zheng Quan Zhi Xing·2025-03-31 05:01Core Viewpoint - The report provides a comprehensive overview of the performance and management of the China Resources Yuanda Hongyuan Interest Rate Bond Fund for the year 2024, highlighting its investment strategies, financial performance, and compliance with regulations [1][2][3]. Fund Overview - Fund Name: China Resources Yuanda Hongyuan Interest Rate Bond Fund - Fund Management Company: China Resources Yuanda Fund Management Co., Ltd. - Fund Custodian: Hangzhou Bank Co., Ltd. - Total Fund Shares at Period End: 3,985,636,184.94 shares [2][3]. Investment Strategy - The fund employs a diversified investment strategy based on macroeconomic analysis, market liquidity, and asset valuation comparisons. Key strategies include duration strategy, yield curve strategy, repo arbitrage strategy, and treasury futures trading strategy [3][4]. Performance Metrics - The fund's net asset value growth rate for the reporting period was 7.11%, while the benchmark return was 7.88% [12][15]. - The fund's net value at the end of the reporting period was 1.0757 CNY for Class A and 1.0740 CNY for Class C [12][15]. Financial Indicators - The fund achieved a profit of 4,571,947.23 CNY during the reporting period, with a weighted average profit margin of 6.90% for Class A and 5.88% for Class C [5][12]. - The fund did not distribute profits during the reporting period [6][12]. Regulatory Compliance - The fund management strictly adhered to the Securities Investment Fund Law and internal control regulations, ensuring the protection of investors' interests [10][11][16]. - The fund's financial statements were audited by Ernst & Young Huaming, receiving a standard unqualified opinion [19][23]. Market Environment - The bond market experienced a strong performance due to supportive monetary policy and a persistent asset shortage, despite some volatility during the year [12][13]. - Economic fundamentals showed signs of weakness, with a focus on real estate policy adjustments and limited fiscal stimulus [12][15].