The investment target closely tracks the performance comparison benchmark and pursues the minimization of tracking deviation and tracking error.
Scope of investment The investment scope of the Fund is financial instruments with good liquidity, including gold spot contracts (including spot firm contracts and spot deferred settlement contracts). ), bonds, asset-backed securities, bond repurchase, bank deposits, money market instruments and other financial instruments permitted by laws and regulations or the China Securities Regulatory Commission (subject to the relevant provisions of the China Securities Regulatory Commission). If laws, regulations or regulatory authorities allow the Fund to be based on other varieties (including but not limited to forward contracts, futures contracts, option contracts, swap contracts and other derivatives linked to gold prices) in the future, the fund manager can include them in the investment scope after performing appropriate procedures.
Investment strategy: the proportion of principal in the gold spot contract is not less than 95% of the fund's net asset value. In order to closely track the performance of performance benchmarks, the Fund strives to control the daily average tracking deviation within 0.2% and the annualized tracking error within 2%. When the liquidity of the gold spot firm contract is insufficient or the investment cost of the gold spot deferred settlement contract is low, the Fund can also appropriately invest in the gold spot deferred settlement contract. In order to reduce the influence of fund fees on tracking deviation and tracking error, the fund can lend its gold spot contract to a reputable institution to obtain rental income, and ask the other party to return the gold spot contract on time or in advance. The Fund will carefully review the credit standing of borrowers of gold spot contracts, and decide the lease term of gold spot contracts, the proportion of lent gold spot contracts to the fund's net asset value and the lease interest rate according to the fund's subscription and redemption and the market supply and demand of gold. Fund managers will also pay attention to the launch of other yellow asset instruments in China. If laws, regulations or regulatory authorities allow the principal to be used for other financial instruments linked to the gold price (including but not limited to forward, futures, options and swap contracts), the fund manager will formulate an investment strategy suitable for the principal target and make prudent investment on the basis of fully evaluating its expected risks and returns.
Dividend policy 1, the income distribution of the fund's on-site share and off-site share is cash; 2. Each fund share of the Fund enjoys the same distribution right; 3. Only when the fund's cumulative rate of return approved on the fund's income evaluation date exceeds the performance benchmark and the cumulative rate of return in the same period reaches more than 0.5% can excess returns be distributed; 4. Based on the nature and characteristics of the fund, the income distribution of the fund does not need to make up for the floating loss. After the income distribution, the net value of the reduced fund share may be lower than the face value; 5. There is no need for income distribution less than 3 months from the effective date of the fund contract, and the fund income distribution is up to 4 times a year; 6. The time from the issuance date of fund income distribution to the base date of income distribution shall not exceed 15 working days; 7. Where laws, regulations or regulatory authorities provide otherwise, such provisions shall prevail.
Performance benchmark Shanghai gold exchange Au99.99 spot firm contract closing price
Risk-return characteristics The Fund tracks the closing price performance of the spot firm contract of Shanghai Gold Exchange Au99.99, which has similar risk-return characteristics to the spot firm contract of Shanghai Gold Exchange Au99.99.