Zheng Quan Zhi Xing·2025-08-27 15:17Fund Overview - The fund is named Penghua Strategy Preferred Flexible Allocation Mixed Securities Investment Fund, managed by Penghua Fund Management Co., Ltd. and custodied by Industrial and Commercial Bank of China [2][3] - The fund aims for long-term capital appreciation and excess returns while effectively controlling risks through a flexible selection of investment strategies [2][3] Investment Strategy - The fund employs an asset allocation strategy that considers macroeconomic variables such as GDP growth rate, CPI trends, M2 levels, and interest rates to assess the economic cycle and adjust asset allocation among stocks, bonds, and cash [2][4] - Stock investments involve a two-step process: strategy selection and individual stock analysis, focusing on market leaders and stocks benefiting from significant industry changes [3][4] - The fund also utilizes various strategies for bond investments, including duration strategy, yield curve strategy, and credit strategy, to enhance returns [5][6] Financial Performance - As of June 30, 2025, the fund's total net asset value is approximately CNY 510.1 million, with a net asset value per share of CNY 2.811 [10][24] - The fund achieved a realized income of CNY 14.7 million and a profit of CNY 2.2 million during the reporting period [10][11] - The fund's net value growth rate for the period is 2.03%, outperforming the benchmark growth rate of 0.62% [21][12] Management Report - The fund manager emphasizes a focus on high-quality assets with competitive advantages and long-term growth potential, maintaining a consistent investment style [21][20] - The fund's portfolio is primarily concentrated in the financial, consumer goods, and industrial sectors [21] - The management reports a positive outlook for the A-share market, indicating potential for upward movement and opportunities outweighing risks [21][22] Custodian Report - The custodian, Industrial and Commercial Bank of China, confirms compliance with relevant laws and regulations, ensuring no actions detrimental to the interests of fund shareholders [26]