Core Viewpoint - The report provides an overview of the performance and investment strategy of the Jiutai Juxin Mixed Securities Investment Fund for the second quarter of 2025, highlighting its focus on bond investments and risk management strategies [1][2]. Fund Overview - Fund Name: Jiutai Juxin Mixed [3] - Fund Manager: Jiutai Fund Management Co., Ltd. [4] - Fund Custodian: Huaxia Bank Co., Ltd. [4] - Total Fund Shares at End of Reporting Period: 8,875,114.83 shares [3]. Investment Strategy - The fund employs a combination of qualitative and quantitative research methods to determine the allocation of stocks, bonds, and cash in its investment portfolio [3]. - The investment strategy includes a focus on bond investments, particularly using a "barbell" strategy and coupon strategies to manage duration and enhance returns [8][9]. - The fund emphasizes the importance of duration management and has increased the duration of its bond holdings to enhance yield elasticity [9]. Financial Performance - As of the end of the reporting period, the net asset value (NAV) of Class A shares was 0.9807 yuan, with a net value growth rate of 1.37% [12]. - Class C shares had a NAV of 0.9708 yuan, with a net value growth rate of 1.33% [12]. - The performance benchmark for the same period yielded a return of 1.54% [12]. Asset Allocation - The fund's asset allocation is heavily weighted towards bonds, with 96.32% of total assets in bonds [13]. - The fund did not hold any stocks or equity-related securities during the reporting period [13][14]. Shareholder Information - The total number of shares at the beginning of the reporting period for Class A was 3,706,723.33, and for Class C was 5,618,643.01 [16]. - The total shares at the end of the reporting period for Class A were 3,705,522.14, and for Class C were 5,169,592.69 [16]. Compliance and Governance - The fund management adheres to relevant laws and regulations, ensuring fair trading practices and the protection of shareholder interests [7][8]. - No significant trading anomalies were reported during the period, and the fund maintained compliance with internal trading policies [8].