Core Viewpoint - Recent reductions in deposit interest rates have led state-owned banks to offer one-year fixed deposit rates below 1%, prompting investors to seek better alternatives for idle funds [1] Group 1: Market Context - The one-year fixed deposit rates at major state-owned banks are now between 0.95% and 0.98%, marking the entry into a "zero" interest rate era [1] - With traditional bank deposits becoming less attractive, there is a growing interest in short-term financial instruments that offer liquidity and better returns [1] Group 2: Investment Opportunities - Short-term bond funds are highlighted as a favorable option for managing idle cash, providing both liquidity and a positive return profile [1] - The Wind data indicates that the Wind Short-term Pure Bond Fund Index has achieved positive returns every year since its inception, with an annualized return of 3.44% over the past 18 years [1] Group 3: Fund Performance - The Hui'an Short-term Bond Fund has consistently delivered positive returns for five consecutive years since its inception in September 2019, with a maximum drawdown of around -1% [2] - The fund offers multiple share classes to cater to different investor needs, with low investment thresholds and flexible redemption options [2] Group 4: Specific Fund Features - The Hui'an Yongli 30-day Holding Period Short Bond Fund and Hui'an Yongfu 90-day Holding Period Short Bond Fund have maintained a maximum drawdown of approximately -0.3% since their inception [3] - The Hui'an Yongli fund requires a minimum holding period of 30 days for free redemption, making it suitable for managing funds idle for over a month, while the Hui'an Yongfu fund requires a 90-day holding period [3]

Group 1 - The core viewpoint of the articles highlights the increasing pace of dividend distributions by public funds in response to regulatory calls for enhancing investor experience, with total dividends exceeding 81 billion yuan as of April 25, 2025 [1] - Bond funds are the main contributors to this dividend distribution, accounting for over 62 billion yuan, which is approximately 80% of the total dividends distributed by funds this year [1] - The Hui'an Jiayu Pure Bond Fund has announced dividends of 0.27 yuan per 10 shares for Class A and 0.08 yuan for Class C, with the cash dividend distribution date set for April 29, 2025 [1] Group 2 - Hui'an Fund has established a strong competitive position in the fixed income investment sector over its nine years of operation, consistently empowering bond investments [2] - According to a report by Guotai Haitong Securities, Hui'an Fund ranks in the top 30 for absolute returns in pure bond funds over the last three years and five years, with rankings of 28 out of 132 and 27 out of 111, respectively [2] - The bond market has experienced fluctuations, with long-term interest rates remaining stable following recent monetary policy announcements, including a 600 billion yuan MLF operation by the central bank [2] Group 3 - Analysts suggest that the bond market may stabilize as the political bureau meeting emphasized the acceleration of fiscal issuance and monetary policy support, reducing concerns over negative market sentiment [3] - The Hui'an Fund research team believes that the current bond market lacks negative fundamentals, and the probability of short-term rate cuts may decrease, leading to a continued range-bound market [3] - Hui'an Fund offers several low-volatility, low-drawdown short- and medium-term bond funds, which have consistently performed well since their inception [3] Group 4 - As of the end of Q1 2025, Hui'an Short Bond Fund A has achieved positive returns for 25 consecutive quarters since its inception, while Hui'an Yongli 30-Day Holding Period Short Bond A and Hui'an Yongfu 90-Day Holding Period Medium-Short Bond A have also maintained positive returns for 12 and 11 consecutive quarters, respectively [4] - These funds have effectively controlled maximum drawdowns to around -0.3%, enhancing the holding experience for investors [4]