Core Viewpoint - The report indicates that the "Chuangjin Hexin Stable Pension Target One-Year Holding Period Mixed Fund of Funds (FOF)" will enter liquidation due to its net asset value falling below 200 million yuan by July 21, 2025, as stipulated in the fund contract [1][2]. Fund Overview - The fund was officially established on July 21, 2022, with a total share amount of 10,001,822.90 shares, and it had no accrued interest at the time of inception [1]. - The fund's A/Y share classes reported cumulative net values of 1.0563 yuan and 1.0630 yuan, with cumulative returns of 5.63% and 7.40% respectively [2]. Management Background - The fund was previously managed by Yan Biao, who has extensive experience in the investment sector, having held various positions in different financial institutions since 2008 [3]. - Currently, Yan Biao manages seven other FOF funds, most of which have positive returns but underperform compared to their peers [4].