PAB(SZ:000001) Zheng Quan Zhi Xing·2025-08-29 11:22Fund Overview - The fund is named "Ping An Zhongzhai-0-3 Year National Development Bank Bond ETF" and is managed by Ping An Fund Management Co., Ltd. [1] - The fund aims to closely track the underlying index, targeting an average tracking deviation of no more than 0.25% and an annualized tracking error of no more than 3% [1][2]. - The fund was established on September 1, 2022, and its shares are traded on the Shenzhen Stock Exchange [1]. Financial Performance - The fund achieved a realized income of CNY 15,116,613.31 and a profit of CNY 2,851,224.44 during the reporting period from January 1, 2025, to June 30, 2025 [2][3]. - The weighted average net value profit rate for the period was 0.21%, with a net asset value of CNY 1,008,139,154.66 at the end of the reporting period [2][3]. - The fund's share net value growth rate was 0.29%, while the cumulative net value growth rate since inception was 6.25% [2][3]. Investment Strategy - The fund employs a passive management strategy using representative stratified sampling to replicate the characteristics of the underlying index [1][6]. - The average daily tracking deviation during the reporting period was 0.02%, with an annualized tracking error of 0.33%, indicating effective tracking of the underlying index [6]. Market Conditions - The bond market faced challenges due to a conservative stance from the central bank regarding liquidity, with the 10-year government bond yield reaching 1.9% [7][8]. - The market is expected to remain volatile, with the 10-year government bond likely to experience fluctuations in the second half of the year [8]. Management and Governance - Ping An Fund Management Co., Ltd. has been managing the fund in compliance with relevant laws and regulations, ensuring the protection of investors' interests [5][9]. - The fund management team is composed of experienced professionals, with a focus on maintaining fair trading practices and transparency [5][6].