Core Points - The announcement details the fourth dividend distribution of the Guolian Ruixiang Pure Bond Fund for 2025, with a record date of September 9 [1] - The dividend distribution plan includes specific amounts for different fund classes, with Class A receiving 0.33 CNY per 10 shares and Class C receiving 0.27 CNY per 10 shares [1] - The dividend payment date is set for September 30, 2025, with options for investors to choose between cash dividends or reinvestment [1] Summary by Categories Dividend Distribution - The dividend distribution is the fourth for the year 2025, with a record date of September 9 [1] - Class A (003071) has a net asset value of 1.16 CNY and will distribute 0.33 CNY per 10 shares, while Class C (003072) has a net asset value of 1.14 CNY and will distribute 0.27 CNY per 10 shares [1] Investor Options - Investors can choose to reinvest their dividends or receive cash payments, with reinvestment based on the net asset value on September 29, 2025 [1] - For those opting for reinvestment, the converted shares will be credited to their accounts on September 30, 2025, and can be redeemed starting October 9, 2025 [1] - Cash dividends will be transferred from the fund's custody account on September 30, 2025 [1] Tax and Fees - The fund's dividend distribution is exempt from income tax according to national tax regulations [1] - There are no fees for the dividend distribution, and investors choosing reinvestment will not incur subscription fees for the converted shares [1]

Core Viewpoint - The announcement details the second dividend distribution for the year 2025 from the China Merchants Jinling Fund Management Co., Ltd., specifically for the high-grade credit bond fund, indicating a structured approach to rewarding investors through cash dividends and reinvestment options [1]. Summary by Relevant Sections Dividend Announcement - The dividend distribution is based on a record date of September 9, 2025, with a cash dividend of 0.20 yuan per 10 shares for the fund identified as "交银中高等级信用债债券" (Code: 519717) [1]. - The dividend distribution date is set for September 26, 2025, with the record date for shareholders being September 24, 2025 [1]. Reinvestment Options - Shareholders opting for reinvestment will have their dividends converted into fund shares based on the net asset value after the ex-dividend date, with the reinvested shares available for inquiry and redemption starting September 26, 2025 [1]. - The reinvestment option is exempt from subscription fees, providing an incentive for investors to reinvest their dividends [1]. Tax Implications - According to regulations from the Ministry of Finance and the State Administration of Taxation, the fund's income distributed to shareholders is temporarily exempt from income tax [1].

Core Viewpoint - The article emphasizes the importance of setting realistic investment expectations and understanding the nature of fund investments, highlighting that long-term stable returns are more common than short-term high returns [4][6]. Group 1: Investment Expectations - Investors often have unrealistic expectations of achieving quick wealth through investments, which can lead to poor decision-making [4]. - Historical data shows that the annualized return of the S&P 500 index is approximately 8% from 2004 to 2024, while the annualized return of the CSI 300 index is about 7% during the same period [4]. - High investment expectations can lead to emotional distress and impulsive decisions, making it crucial for investors to set appropriate return expectations [6]. Group 2: Investment Timing and Strategies - Accurately timing market entry is extremely difficult, and a more scientific approach is to use methods like dollar-cost averaging or systematic investment plans [7]. - Dollar-cost averaging allows investors to spread their investments over time, reducing the risk of investing at market peaks [7]. - It is recommended to diversify investments across different asset types to mitigate risks [7]. Group 3: Understanding Fund Performance - New investors often misinterpret high net asset values as high risk, but past performance does not necessarily predict future results [8][9]. - The article illustrates that regardless of the net asset value, the total asset value can be the same if the funds perform equally over time [9]. - Investors should focus on the fund's investment strategy, the manager's long-term capabilities, and the overall research strength of the fund company rather than just the net asset value [9]. Group 4: Fund Dividends - High dividend funds are often favored by investors, but dividends are a distribution of earnings that reduce the fund's net asset value [10]. - Investors can choose between cash dividends or reinvesting dividends to purchase more fund shares, which does not change the total asset value [10][11]. - The decision to take cash or reinvest dividends should align with the investor's outlook on the fund's future performance [12].

Core Viewpoint - The announcement details the second dividend distribution for the year 2025 from the "Honeysuckle Fengxin Pure Bond One-Year Regular Open-End Bond Fund" [1] Summary by Sections Dividend Announcement - The dividend distribution date is set for September 9, 2025, with a cash dividend of 0.50 yuan per 10 shares for the fund [1] - The fund's net asset value on the record date is 1.17 yuan [1] Dividend Distribution Details - The beneficiaries of the dividend are all registered holders of the fund shares as of the record date, September 17, 2025 [1] - The cash dividend will be distributed on September 19, 2025 [1] - Investors opting for reinvestment will have their dividends converted into fund shares based on the net asset value after the ex-dividend date, credited to their accounts on September 18, 2025 [1] Tax and Fees - According to relevant regulations, the fund's income distributed to investors is temporarily exempt from income tax [1] - There are no fees for the dividend distribution, and investors choosing the reinvestment option will not incur subscription fees for the converted fund shares [1]

登录新浪财经APP 搜索【信披】查看更多考评等级 1 公告基本信息 ■ 注：在符合有关基金分红条件的前提下，本基金管理人可以根据实际情况进行收益分配，具体分配方案 以公告为准，若《基金合同》生效不满3个月可不进行收益分配。 2 与分红相关的其他信息 （3）对于未选择具体分红方式的投资者，本基金默认的分红方式为现金方式。投资者可通过查询了解 本基金目前的分红设置状态；投资者可以在基金开放日的交易时间内到本基金销售机构修改分红方式， 本次分红确认的方式将按照投资者在权益登记日前最后一次生效的分红方式为准；分红方式修改只对单 个交易账户有效，即如投资者在多家销售机构购买了本基金，其在任一家销售机构所做的基金份额的分 红方式变更，只适用于投资者通过该销售机构指定交易账户下持有的基金份额。 （4）投资者可登陆本公司官网查询本基金销售机构。请投资者到各销售机构或通过本公司确认分红方 式是否正确，如不正确或希望修改分红方式的，请务必在规定时间前到相应的销售机构办理变更手续。 （5）咨询方式 ■ 注：选择现金分红方式的投资者的现金红利款将于2025年9月17日自托管账户划出。 3 其他需要提示的事项 （1）权益登记日当日申请 ...

Core Insights - The article highlights that while fund investments have low entry barriers and are easy to operate, less than 30% of investors actually make profits due to fundamental cognitive biases [1] Group 1: Fund Types and Rules - Money Market Funds generate returns during weekends and holidays, with holiday earnings disclosed on the second business day after the holiday [2] - Bond Funds continue to earn interest during holidays, but secondary market trading is paused due to stock market closures [3] - Stock/Index Funds do not generate returns during holidays, and investors should be aware of early market closures for Hong Kong stocks [3] Group 2: Buy and Redemption Rules - For buying funds, purchases made before 15:00 are confirmed at the same day's net value, while those after are confirmed at the next day's net value [5] - For redemptions, requests before 15:00 count the same day's earnings, while those after include both the current and next day's earnings [5] Group 3: Investment Strategies - Long-term investment strategies, such as dollar-cost averaging, should not be influenced by specific days of the week, as empirical data shows minimal differences in returns [7] - Suitable funds for dollar-cost averaging include high-volatility stock funds and low-fee index funds, while avoiding low-volatility bond and money market funds [8] Group 4: Timing and Market Signals - Technical indicators like MACD and RSI can help determine the timing for one-time purchases, especially when the PE ratio of indices is low [9] - Signals from monetary policy, such as interest rate cuts, often correlate with market uptrends [10] Group 5: Fund Valuation and Costs - Net asset value does not equate to valuation; a fund with a higher net value may offer better returns than one with a lower net value [12] - Hidden costs, such as management fees and transaction costs, can significantly erode returns over time [14] Group 6: Risk Management - Funds with a continuous low scale may trigger liquidation, but investors can recover their assets at the current net value [15][16] - Understanding the nature of fund dividends is crucial, as dividends do not equate to additional earnings [18] Group 7: Cognitive Biases and Portfolio Construction - Common misconceptions include the belief that lower net values are safer, that dollar-cost averaging guarantees profits, and that frequent dividends indicate a good fund [23] - A recommended asset allocation strategy is the 50-30-20 rule, which suggests 50% in broad index funds, 30% in thematic funds, and 20% in bonds or money market funds [24]

Group 1 - The announcement includes information about the fund's dividend distribution, stating that the net asset value of the fund shares cannot fall below par value after the distribution [1] - Investors who apply for subscription, conversion, or regular investment on the record date will not enjoy the dividend rights, while those who redeem or convert out on the record date will [1] - The default dividend distribution method for investors who do not choose is cash distribution, and investors can modify their distribution method at sales outlets [1][2] Group 2 - The fund management company has decided to adjust the valuation method for the stock "SMIC" (stock code: 688981) held by its funds, using the index yield method starting from September 4, 2025 [4] - The subscription and redemption prices will be based on the net asset value calculated using the adjusted valuation method [4] - The valuation method will revert to market price once the stock resumes trading and shows active market trading characteristics [4] Group 3 - Starting from September 5, 2025, Huatai Securities will begin selling certain funds managed by the company [6] - The specific dates, times, processes, and fee discount activities for fund sales will be determined by the sales institution [7] - Investors can consult details through the websites and customer service numbers of both Huatai Securities and the fund management company [8]

Group 1 - The article highlights that most investors are familiar with stock index funds but have limited knowledge about bond index funds and their investment strategies [2] - A free course is offered to educate investors on how to invest in bond index funds, along with supplementary materials like course notes and mind maps for efficient learning [2] Group 2 - The article discusses the treatment of dividends in index funds, noting that many A-share stocks distribute dividends annually, which index funds can also receive [6] - It explains that some funds accumulate dividends and distribute them as fund dividends, while others reinvest the dividends into the fund's net asset value, effectively treating them as reinvested dividends [6] - The necessity for index funds to maintain a high stock position is emphasized, as holding cash from dividends would reduce stock exposure, contrary to fund contracts [6]

Core Viewpoint - The announcement details the fourth dividend distribution for the Galaxy SSE State-Owned Enterprises Dividend ETF for the year 2025, highlighting the distribution date and amounts [1]. Summary by Relevant Sections Dividend Announcement - The dividend distribution base date is set for August 8, with a cash dividend of 0.02 yuan per 10 shares for the SSE Dividend ETF (code: 530880), which had a net asset value of 1.01 yuan on the record date [1]. - The record date for equity registration is September 8, and the cash dividend payment date is September 12 [1]. Taxation and Fees - According to relevant tax regulations, both individual and institutional investors will not be subject to personal income tax or corporate income tax on the income derived from the fund's profit distribution [1]. - There will be no dividend distribution fees charged for this dividend [1].

Core Viewpoint - The financial performance of Junzheng Group's affiliate Tianhong Fund remains robust, with a reported revenue of 2.78 billion yuan and a net profit of 917 million yuan in the first half of 2025, despite a challenging market environment. However, the disparity between the company's profits and the returns for ordinary investors highlights a significant structural contradiction within the fund [1][3][13]. Financial Performance - Tianhong Fund achieved a revenue of 2.78 billion yuan and a net profit of 917 million yuan in the first half of 2025, ranking 7th among 65 fund companies, but it was the only one in the top 7 to experience a decline in net profit compared to the same period in 2024 [3][13]. - Junzheng Group received a dividend of 125 million yuan from Tianhong Fund in the first half of 2025, while former general manager Guo Shuqiang, despite being absent from the public eye for two years, received 20 million yuan in dividends, totaling over 200 million yuan in cumulative dividends [1][8][12]. Investor Returns - The total profit generated by Tianhong Fund's related funds (including bond, stock, mixed, and money market funds) was only 9.58 billion yuan in the first half of 2025, significantly lower than competitors like Southern Fund and Fortune Fund, which reported profits of 27.36 billion yuan and 32.98 billion yuan, respectively [3][4]. - Tianhong's Yu'ebao, the largest money market fund in China, had a 7-day annualized yield of 1.3056%, ranking it in the lower tier among similar funds, indicating a decline in investor returns [4][5]. Structural Contradiction - The disparity between the stable dividends received by shareholders and the declining returns for ordinary investors has become a prominent issue for Tianhong Fund, reflecting a broader challenge within the public fund industry regarding aligning management profits with investor returns [10][13]. - The case of Guo Shuqiang, who continues to receive dividends despite his absence from management, exemplifies the disconnect between fund management and investor outcomes [8][9][12].