Core Viewpoint - The report provides an overview of the performance and investment strategy of the Bosera Double Monthly Enjoy 60-Day Rolling Bond Fund for the second quarter of 2025, highlighting its focus on maximizing returns while managing risks in a favorable bond market environment [1][10]. Fund Overview - Fund Name: Bosera Double Monthly Enjoy 60-Day Rolling Bond Fund - Fund Manager: Bosera Fund Management Co., Ltd. - Fund Custodian: China Postal Savings Bank Co., Ltd. - Total Fund Shares at Period End: 3,671,367,885.46 shares [1][3]. Investment Objectives and Strategies - The fund aims to achieve returns exceeding its benchmark through a combination of top-down and bottom-up analysis, utilizing both qualitative and quantitative methods [2]. - Investment strategies include term structure strategy, credit strategy, swap strategy, spread strategy, and individual bond selection strategy, with a focus on maximizing credit premium while controlling interest rate risk [2]. Performance Metrics - The fund's performance is benchmarked against a composite index: 85% of the China Bond Composite Wealth Index (for maturities under one year) and 15% of the after-tax one-year fixed deposit rate [2]. - Net Value Growth Rates for the past periods: - Last 3 months: 0.57% - Last 6 months: 0.88% - Last year: 2.36% - Last 3 years: 9.71% [5]. Financial Indicators - As of June 30, 2025, the net value of Class A shares is 1.1339 CNY, and Class C shares is 1.1251 CNY [11]. - The fund's total assets include 94.30% in bonds, with no holdings in stocks or asset-backed securities [13]. Market Environment - The bond market experienced a downward trend in yields during the second quarter, influenced by external demand uncertainties and a shift in central bank policy towards stabilizing growth [10][11]. - The current market conditions are deemed favorable for bonds, with expectations of potential monetary easing measures such as reserve requirement ratio cuts and interest rate reductions [11]. Management Report - The fund management adheres to regulations and maintains a commitment to fair trading practices, ensuring no unfair trading or conflicts of interest occurred during the reporting period [10]. - The fund manager has not engaged in any transactions involving the fund's own capital during the reporting period [18].