Core Viewpoint - The market is experiencing a rebound followed by a period of adjustment, providing an opportunity window for investing in quality equity assets. Most institutions maintain a bullish outlook on the medium to long-term market trend, viewing short-term fluctuations as potential buying opportunities [1]. Fund Overview - The Jiashi Growth Sharing Mixed Fund (A Class 025830, C Class 025831) has commenced its initial fundraising on October 20, offering investors a new option for growth allocation [1]. - This fund features a novel floating fee rate mechanism, making it the second "new model fund" launched by Jiashi Fund following the Jiashi Growth Win Fund [2]. Fee Structure - The fund's management fee is determined based on the holding period and annualized return during that period. For holdings under one year, a fee of 1.20% is charged. For holdings of one year or more, the fee varies based on performance: 1.50% for annualized excess returns over 6%, 0.60% for returns at or below -3%, and 1.20% for other scenarios [2]. - This floating fee mechanism aligns the interests of the fund manager and investors, incentivizing the manager to pursue excess returns [2]. Investment Strategy - The fund's performance benchmark is a composite of 70% CSI 800 Growth Index, 10% CSI Hong Kong Stock Connect Composite Index (RMB), and 20% China Bond Total Price Index. The CSI 800 Growth Index includes the top 150 securities with the highest growth factor scores from the CSI 800 Index [3]. - The fund manager, Meng Xia, focuses on long-term growth potential, valuation safety margins, and diversified industry allocation, aiming to meet the needs of investors seeking long-term returns while managing risks [3][4]. Market Outlook - Meng Xia believes that sustainable long-term returns stem from the value created by the continuous growth of excellent companies. He emphasizes a focus on top-tier companies and long-term growth opportunities [4]. - The A-share growth style is expected to benefit from a recovery in market risk appetite and ongoing policy support, with an increasing emphasis on quality factors as the market matures [4]. - Key investment areas include high-end manufacturing, domestic demand recovery, and sectors with significant growth potential such as energy storage, solid-state batteries, robotics, smart driving, pharmaceuticals, and electronics [4].

Core Viewpoint - The launch of the Jiashi Growth Sharing Mixed Fund represents a new investment choice for investors seeking growth opportunities and excess returns in the market, with a floating fee structure linked to fund performance [1][3]. Fund Overview - The Jiashi Growth Sharing Mixed Fund will be publicly offered starting October 20, with a performance benchmark of "70% CSI 800 Growth Index return + 10% CSI Hong Kong Stock Connect Composite Index (RMB) return + 20% China Bond Total Price Index return," indicating a growth-oriented investment style [1]. - The fund is positioned to capitalize on the strong return of growth styles in the A-share market, supported by macroeconomic policies aimed at stabilizing growth and boosting confidence [1]. Fund Manager Profile - Meng Xia, the proposed fund manager, has 11 years of experience in the securities industry and a strong background in quality growth investment, having joined Jiashi Fund in 2014 [2]. - Meng Xia's management of various funds has demonstrated significant excess returns, with the Jiashi Manufacturing Upgrade fund achieving a 54.63% return over the past year compared to a benchmark of 28.76% [2]. Investment Focus - The fund will focus on high-end manufacturing, domestic demand recovery, and sectors with high growth potential such as energy storage, solid-state batteries, robotics, smart driving, pharmaceuticals, and electronics [3]. - Jiashi Fund has a history of adapting to market trends, having successfully navigated various investment themes over the years, including TMT, innovative drugs, semiconductors, and artificial intelligence [3]. Fee Structure - The floating fee mechanism ties management fees to the fund's performance relative to its benchmark, enhancing alignment between the interests of the management and investors [6]. - Management fees are structured based on the holding period and annualized return, with rates varying from 0.6% to 1.5% depending on performance [4][5]. Conclusion - The Jiashi Growth Sharing Mixed Fund is positioned as a noteworthy option for investors seeking to share in growth opportunities, with a focus on risk-sharing and benefit-sharing through its innovative fee structure [6].