Jinsheng Securities Investment Fund

Profile
Transaction code: 184703
Date of establishment: April 26, 2000
Size: 500 million
Type: Contract type closed-end
Fund trustee: China Construction Bank

Investment Conception
Obey the value investment concept. The value judgment is the key. It is necessary to correctly forecast the market profit level, determine the proper P/E ratio according to industry property, regulation structure, development strategy, management level, macro-environment, etc. and stress on the analysis on the regulation structure and the long-term competitiveness edge of listed companies.

Fund manager’s comment
The most importance job was to hold to the value investment concept and carry through to the end. It is estimated that the market will be relative balance, and the system reform will be the important content and the Chinese economy continuous to grow, still bringing the active strength for the market. We will continue to hold to the value investment concept and pay more attention to the long-term profit capacity in value judgment principle. For the investment strategy, we will hold to the thought of proceeding from personal stocks, emphasize the downstream service industry, prefer the leading enterprises in the upstream and pay attention to the wave band operation opportunities.

Investment objective
The investment objective of the fund is to achieve assets increment and profit maximization by investing into public companies whose investment is involved in burgeoning industry on the premise of risk decentralization and risk evasion.

Investment Strategy
The investment strategy of the fund is determined according to macroeconomic environment and the proportion of bond investment in accordance with the tendency of interest rate and expected-inflation. Moreover, stock is analyzed and selected on the basis of public companies’ value analysis and competitive advantages amongst the industry. Asset allocation of this fund is designed to adhere to comparatively convergence investment strategies, exploring industries with growth potential and afterward allocate major part of large weighted asset property to burgeoning industry or into its prime.