受个券影响，华宸未来基金旗下债基暴跌

Core Viewpoint - The recent significant decline in the net value of Huachen Future Fund's bond fund has raised concerns among investors and industry professionals, highlighting the challenges faced by small public fund management companies [1][3][9] Group 1: Fund Performance - Huachen Future Stable Income Bond Fund experienced a cumulative decline of 7.75% from November 25 to December 2, with a notable drop of 7.61% over four trading days from November 27 to December 2 [3] - The fund's net value had previously shown stability, but recent performance has been likened to a "waterfall" drop, with the latest net value recorded at 1.1921 yuan as of December 4 [3] - The fund's net value decline has surpassed the annual gains of previous years, with 2023 and 2024 gains recorded at 4.59% [3] Group 2: Fund Management and Strategy - The fund's investment strategy includes a focus on short-term and long-term government bonds, with a 36.55% allocation to these securities as of the third quarter [4] - The fund management team has been actively adjusting the investment portfolio in response to market changes, aiming to optimize performance and control credit risk [4][6] Group 3: Company Background - Huachen Future Fund, established in 2012, has struggled with a small public fund management scale, with assets dropping from a peak of 13.18 billion yuan in early 2024 to just 1.95 billion yuan by the end of the third quarter [9] - The fund company currently manages only two public funds, with the other being a mixed fund that has also underperformed significantly [9]