Core Viewpoint - The Hongta Hongtu Zhongzheng Interbank Certificate of Deposit AAA Index 7-Day Holding Fund is convening a meeting to discuss the continuation of the fund's operations due to its net asset value falling below 50 million yuan for 60 consecutive working days [1] Group 1: Fund Performance - The fund will review a proposal regarding its continued operation at the upcoming meeting [1] - The average yield of interbank certificate of deposit index funds in the market, excluding those newly established in the second half of this year, is only 0.7%, which underperforms compared to bond funds' average yield of 1.8% and money market funds' average yield of 0.97% during the same period [1]

Fund Overview - The fund is named "Xinao Zhongzheng Interbank Certificate of Deposit AAA Index 7-Day Holding Period Securities Investment Fund" with a fund code of 024728 [19] - It is a mixed-type, contractual open-end fund with a minimum holding period of 7 days for each fund share [19][20] - The fund's subscription period is from September 1, 2025, to September 19, 2025, not exceeding 3 months [21] Fund Management and Custody - The fund is managed by Xinda Australia Fund Management Co., Ltd. and the custodian is Bank of Communications Co., Ltd. [50][51] - The fund's management and registration agency is also Xinda Australia Fund Management Co., Ltd. [52] Subscription and Redemption Rules - Each investor can only subscribe up to 10 million yuan per day, with a total subscription cap of 5 billion yuan [4][13] - The fund allows multiple subscriptions during the subscription period, but once a subscription application is accepted, it cannot be withdrawn [8][12] - Investors cannot redeem or transfer their shares until the 7th day after the fund contract takes effect [2][19] Fund Investment Strategy - The fund primarily invests in interbank certificates of deposit, specifically those rated AAA with a maturity of 1 year or less [14][15] - The fund aims to reflect the overall performance of AAA-rated interbank certificates of deposit [15] Fees and Charges - There is no subscription fee for investors, but a sales service fee will be charged as per the fund contract and prospectus [21] - The fund's share value is set at 1.00 yuan per share [20] Investor Eligibility - The fund is open to individual investors, institutional investors, qualified foreign investors, and other investors permitted by laws and regulations [3][4] - The fund does not sell to financial institutions' proprietary accounts, except for the fund manager's own funds [13] Important Dates and Announcements - The fund's prospectus and contract will be disclosed on the company's website and the China Securities Regulatory Commission's electronic disclosure website on August 27, 2025 [54]

Group 1 - The core viewpoint is that major state-owned banks and key joint-stock banks have collectively lowered deposit interest rates, leading to a shift in fixed deposit rates entering the "1 era" [1] - The Tianhong Zhongzheng Interbank Certificate of Deposit AAA Index 7-day holding period product has shown a stable annualized return of over 2% since its inception, indicating its strong performance [1] - The investment threshold for this product is very low, starting at just 0.01 yuan, making it accessible for a wide range of investors [1] Group 2 - The fund manager of the Tianhong product stated that the yield operation space of interbank certificate of deposit index funds is greater than that of money market funds but less than that of short-term bond funds, making it suitable for most investors [2] - The configuration value of interbank certificates of deposit is expected to become more prominent in the future, especially after the recent deposit rate cuts [2] - The demand for certificates of deposit is anticipated to increase as banks transition deposits to non-bank funding, improving the supply-demand relationship [2]

Fund Overview - The fund is named "China Post CSI Interbank Certificate of Deposit AAA Index 7-Day Holding Period Securities Investment Fund" with a code of 024199 [20] - It is classified as a mixed-type securities investment fund [2] - The fund operates as a contractual open-end fund with a lock-up period of 7 days for each share [20][18] - The total fundraising cap is set at RMB 5 billion [6][21] Fund Management and Operations - The fund is managed by China Post Capital Management Co., Ltd., with the registration and custody handled by China Postal Savings Bank [3][4] - The fund will be publicly offered from May 28, 2025, to June 10, 2025 [5] - Investors must open a fund account with the management company to purchase the fund [7] Investment Strategy - The fund aims to achieve returns similar to the underlying index before deducting fees, minimizing tracking deviation and error [21] - It primarily invests in the components and alternative components of the CSI Interbank Certificate of Deposit AAA Index, maintaining at least 80% of its non-cash assets in these securities [22][23] - The fund does not invest in stocks or convertible bonds, focusing instead on interbank certificates of deposit and other debt instruments [23] Subscription and Redemption Process - Investors can subscribe to the fund without incurring subscription fees, but a service fee will be charged [30] - The subscription process requires investors to submit specific documentation and ensure funds are transferred to designated accounts by the deadline [39][45] - The fund has a 7-day lock-up period during which investors cannot redeem or transfer their shares [18] Risk Factors - The fund's risk profile is lower than that of equity funds but higher than that of money market funds, primarily due to its investment in interbank certificates of deposit [7] - Potential risks include tracking error, index volatility, and the possibility of component securities being suspended or defaulting [8][14][15]