First of all, look directly at the performance of the fund. This part is also the most concerned issue for investors. You can directly turn to the "main financial indicators and fund net performance" section.
Understand the growth of the fund's net value in the past quarter, whether it outperforms the performance benchmark, or lengthen the interval to see the fund's excess returns relative to the performance benchmark in the past 1 year, the past 3 years, the past 5 years and since its establishment.
Then you can look at the fund's position. According to the regulatory requirements, the fund will update its position every quarter. First of all, look at the position and understand the fund manager's control over the position. Compared with industry allocation and stock selection, position control tests the fund manager's ability to respond to the market, and also reflects the fund manager's management level. The stock position is too high, the risk is high, and the position is too low, so it is difficult to keep up with the pace of market rise.
Look at the top ten awkward positions, see if there are any new or replaced awkward positions, and what changes have taken place compared with last time.
Another important point is the fund manager's point of view, which is also the core content of the fund's regular report. We can see directly in the section of "Investment Strategy and Operation Analysis", which contains the fund manager's review of the previous market and the prospect of the future market, which has a very important reference role for our subsequent investment planning.