Zheng Quan Zhi Xing·2025-07-21 02:26Core Viewpoint - The report provides an overview of the performance and management of the Southern Stable View 3-Month Holding Mixed Fund of Funds (FOF) for the second quarter of 2025, highlighting its investment strategies, financial indicators, and market conditions during the reporting period [1][2]. Fund Overview - The fund is managed by Southern Fund Management Co., Ltd. and is designed to seek long-term stable appreciation of fund assets through a diversified investment strategy [1]. - The fund's total share at the end of the reporting period was approximately 3.63 billion shares [1]. Financial Indicators and Fund Performance - The A share net value at the end of the reporting period was 1.0031 yuan, with a net value growth rate of 0.31%, while the C share net value was 1.0026 yuan, with a growth rate of 0.26% [2]. - The performance benchmark for the fund showed a growth rate of 1.22% during the same period [2]. Management Report - The fund manager adhered to relevant laws and regulations, ensuring compliance and risk control while managing the fund assets [2]. - The macroeconomic environment in the second quarter was stable, with positive developments in US-China trade negotiations and a slight recovery in the domestic market [2]. Investment Strategy - The fund's investment strategy focuses on balancing risk and return, with an emphasis on selecting assets with high win rates during the initial phase of the investment period [2]. - The fund's asset allocation includes a mix of stocks, bonds, and other investment tools, aiming for a stable return [1][2]. Market Conditions - The domestic macroeconomic indicators showed a PMI of 49% during the reporting period, indicating a slight improvement [2]. - The market experienced a "V" shaped recovery, with the CSI 300 index rising by 1.25% and the CSI 500 by 0.98% [2]. Investment Portfolio - The fund did not hold any asset-backed securities at the end of the reporting period, and its investment in bonds was primarily focused on policy financial bonds [4][5]. - The fund's investment in the top ten securities did not exceed the limits set by the fund contract, ensuring compliance with investment guidelines [4].