4个交易日累计跌幅超7%，华宸未来稳健添利引发“踩雷”猜测

Core Viewpoint - The bond fund "Huachen Future Steady Income" has experienced significant net value decline, raising concerns among investors due to its performance compared to similar products [1][4]. Market Performance - From November 27 to December 2, the A share of the fund fell by 7.61%, while the C share dropped by 7.68% [1]. - In the same period, the average decline for 419 similar mixed bond funds was only 0.06%, with the second-largest decline being 0.74% for "Jiangxin One-Year Open" [1]. Fund Holdings and Management - The fund's net value drop was attributed to significant price adjustments in certain held bonds, primarily government bonds, which constitute 56.34% of its portfolio [3]. - The fund's overall leverage is at 115.29%, well below the 140% limit [3]. - The top five holdings are all government bonds, with corporate bonds and financial bonds making up 32.73% and 10.93% of the portfolio, respectively [3]. Fund History and Performance - Huachen Future has struggled with growth since its establishment in June 2012, with a peak management scale of less than 1.5 billion yuan [5]. - As of the end of Q3 this year, the fund's total management scale was only 1.95 million yuan, ranking 186 out of 192 in the industry [5]. - The fund has only issued three funds, with the second fund, Huachen Future Steady Income, being the longest-running since its inception in August 2013 [6]. Shareholder Actions - The largest shareholder, Huachen Trust, is attempting to divest its 40% stake in the fund, with a minimum listing price of 17.2 million yuan [7]. - The assessed value of this stake is significantly lower at 4.5229 million yuan, raising concerns about the fund's ongoing viability [8].