Zheng Quan Zhi Xing·2025-08-27 13:38Fund Overview - The fund is named Penghua Guozheng Securities Leading Exchange-Traded Open-Ended Index Fund, managed by Penghua Fund Management Co., Ltd. and custodied by CITIC Securities Co., Ltd. [1][3] - The fund was listed on February 7, 2020, and aims to closely track the underlying index with minimal tracking deviation and error [2][3]. Investment Strategy - The fund employs a passive index investment strategy, constructing an investment portfolio based on the benchmark weights of the constituent stocks in the underlying index [2][4]. - The fund aims to keep the average daily tracking deviation within 0.2% and the annual tracking error within 2% [2][4]. Financial Performance - As of June 30, 2025, the fund's total net asset value was approximately RMB 2.05 billion, with a total of 1,693,197,982 fund shares outstanding [8][3]. - The fund reported a realized income of RMB 27.34 million and a profit of -RMB 23.75 million for the reporting period [8][7]. - The fund's net asset value per share at the end of the reporting period was RMB 1.2095, with a cumulative net value growth rate of 20.95% [8][7]. Market Context - The report indicates that the securities market is in a recovery phase, with significant capital inflow expected due to improved market sentiment and policy support [23][24]. - The fund's performance is influenced by macroeconomic factors, including GDP growth of 5.4% in Q1 2025, driven by consumption stimulus policies and real estate stabilization [22][23]. Management and Compliance - The fund management strictly adheres to relevant laws and regulations, ensuring compliance and protecting the interests of fund shareholders [19][20]. - The fund management has established a complete ETF tracking mechanism to minimize tracking errors and optimize adjustments based on market conditions [20][21].