Because today is ex-dividend day. Fund dividend means that the fund distributes part of the income to fund investors in cash, which is part of the net value of the fund unit and an asset on the fund's books. Therefore, on the dividend day, that is, the ex-dividend day, the net value of the fund unit fell.

Investment objective: Under the premise of fully controlling risks and maintaining good liquidity of assets, strive to obtain higher return on investment for fund share holders.

Investment scope: The Fund mainly invests in fixed-income securities, including treasury bonds, financial bonds, corporate bonds, subordinated bonds, convertible bonds (including convertible bonds traded separately), asset-backed securities, central bank bills, short-term financing bonds, repurchase and other fixed-income securities, as well as other financial instruments or financial derivatives permitted by laws and regulations or China Securities Regulatory Commission. In order to improve the income level of the fund, the fund can participate in the subscription of new shares and stock investment in the secondary market.

investment strategy

1. Asset allocation: The Fund judges the macro-economic development environment, macro-economic operation, monetary and fiscal policy changes, market interest rate trends, economic cycle and corporate profitability through top-down analysis of macro-economy and bottom-up analysis of micro-level, so as to determine the overall asset allocation, that is, the allocation ratio of bonds, stocks, cash and repurchase. The fund's stock investment will be mainly based on the subscription of new shares, and it is cautious about the stock investment in the secondary market. Under the premise of paying full attention to the safety of principal, the Fund will obtain long-term and stable investment returns for fund share holders.

2. Fixed-income securities investment strategy: bond asset allocation

Through the analysis and judgment of macro-economy, monetary policy and bond market, the Fund grasps the running trend of market interest rate, formulates specific investment strategies according to the overall movement direction of bond market yield curve, and makes full use of various arbitrage strategies to improve the holding period yield of the portfolio on the basis of controlling interest rate risk, credit risk and liquidity risk, so as to maintain and increase the value of fund assets.