Zheng Quan Zhi Xing·2025-07-17 10:19Core Viewpoint - The report outlines the performance and management of the Rongtong ChiNext ETF for the second quarter of 2025, emphasizing its investment strategy, financial indicators, and market outlook for the second half of the year [1][11]. Fund Product Overview - The fund is named Rongtong ChiNext ETF, with a total share of 131,484,790.00 at the end of the reporting period [2][4]. - The investment objective is to closely track the underlying index with a daily tracking deviation not exceeding 0.2% and an annual tracking error not exceeding 2% [2]. Investment Strategy - The fund employs a fully passive index investment strategy, primarily using a replication method based on the benchmark weights of constituent stocks [2]. - The fund's investment strategies include stock investment, bond investment, asset-backed securities, and stock index futures [2]. Financial Indicators and Fund Performance - As of the end of the reporting period, the fund's net asset value was 0.8221 yuan, with a net value growth rate of 3.57% compared to a benchmark return of 2.34% [12]. - The fund's performance over the past three months showed a net value growth rate of 3.57% and a standard deviation of 1.98% [3][8]. Management Report - The fund is managed by experienced professionals, including Cai Zhiwei and Lü Han, with extensive backgrounds in finance and investment management [5][6]. - The management adheres to strict compliance with regulations and aims to maximize benefits for fund holders while maintaining risk control [10]. Market Outlook - The A-share market is expected to show a trend of moderate upward movement in the second half of the year, driven by liquidity easing and policy support [11]. - The focus for investments is anticipated to be on "technology innovation" and "dividend" assets, with a strategic allocation expected to yield good returns [11].