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001832

E Fund Ruiheng Flexible Allocation Hybrid Fund

001832

E Fund Ruiheng Flexible Allocation Hybrid Fund

  • Daily NAV and Return
  • Basic Information
  • Portfolio Managers
  • Fee Structure
  • Asset Allocation
  • Historical Daily NAV
  • Risk Disclaimer
2.2485
NAV(RMB)
-0.60%
Daily Return
Date:2025-04-30
Return: 0.00% Max. Drawdown: 0.00%
Basic Information
Fund Name: E Fund Ruiheng Flexible Allocation Hybrid Fund
Fund Name (Short name): E Fund Ruiheng Fund
Fund Code: 001832
Inception Date: 2018-01-10
Fund Manager: E Fund Management Co., Ltd.
Portfolio Managers: Nan Xiao
Custodian: China Merchants Bank
Net Asset Value: As of 31/03/2025: RMB 2,269,134,076.96
Investment Scope:

The Fund may invest in domestic stocks (including those listed on the ChiNext Market as well as other stocks or depositary receipts issued and listed as authorized by or registered at CSRC), bonds (including China government bonds, central bank bills, local government bonds, financial bonds, corporate bonds, company bonds, short-term company bonds issued by securities companies, private bonds of small and medium enterprises, subordinated bonds, medium-term notes, commercial paper, convertible bonds, exchangeable bonds, etc.), asset-backed securities, bond repurchase agreements, bank deposits, warrants, China government bond futures, equity index futures, stock options, and other financial instruments as allowed by Laws and Regulations or CSRC.

Should Laws and Regulations or regulatory authorities subsequently allow investment in additional asset types, the Fund may include them in its investment scope.

Portfolio Allocation: This Fund is a hybrid fund, with stocks accounting for 0% to 95% of the Fund assets. After deducting margin requirements for stock index futures and China government bond futures contracts, cash or government bonds maturing within one year shall not be less than 5% of the Net Asset Value, where cash excludes settlement provisions, deposited margins, or Subscription receivables, etc. The proportion of warrants, China government bond futures, stock index futures, stock options, and other financial instruments in the investment portfolio shall be compliant with the provisions of Laws and Regulations or the rules set by regulatory authorities.
Investment Objective: The Fund aims to pursue steady growth of the fund's assets while managing risk.
Benchmark: CSI 800 Index Return × 85% + ChinaBond Aggregate Index Return × 15%
Portfolio Managers
Nan Xiao
Commentary
In Q1 2025, while liquidity conditions in the A-share market improved, macroeconomic data did not indicate a stronger performance. Investors continued trading along the bearish domestic demand theme, leading to even more pronounced market divergence. During the quarter, the SSE Composite Index fell by 0.48%, the large-cap-focused SSE 50 Index declined by 0.71%, and the growth-style ChiNext Index, representing small and mid-cap stocks, dropped by 1.77%. Amid extreme pessimism toward domestic demand, investors sought to mitigate risks by avoiding sectors tied to domestic consumption while chasing high-concept themes and sectors where short-term data may exceed expectations.We believe that although current micro data may hardly boost confidence to go long on domestic demand, certain assets—trading at deeply discounted prcies with sustainable cash flow generation—have reached highly attractive risk-reward levels. This quarter, we significantly increased our allocation to baijiu stocks, viewing them as high-yield bonds embedded with a domestic demand call option. Additionally, the industry’s shift toward “quality over quantity” continues. After multiple cycles, a considerable number of second- and third-tier A-share companies have fallen behind, leading to a sharp reduction in the supply of high-quality firms. Valuations for these companies now have little room for further downside. We also took profits on some outperforming stocks this quarter while adding exposure to undervalued sectors such as electrolytic aluminum and banking. Given our substantial exposure to external demand, we further increased holdings in gold-related stocks as a hedge against potential geopolitical risks, enhancing portfolio stability.

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Fee Structure
Subscription Fee
Subscription Amount M (RMB) (inclusive of Subscription fee) Subscription Fee Rate
M<1 million 0.60%
1 million≤M<5 million 0.30%
M≥5 million RMB 1000.00 per transaction
Note: In the case where the subscription fee is tiered by amount, if an investor makes multiple subscriptions, the subscription fee will be applied according to the rate corresponding to the amount of each individual subscription.
Redemption Fee
Holding Period (days) Redemption Fee Rate
0-6 1.50%
7-29 0.75%
30-89 0.50%
90-179 0.50%
180 days or more 0.00%
Management Fee and Custody Fee
Management Fee 0.60%
Custody Fee 0.15%
Note: 1. The annual fee amounts in the table above are for the overall fund expenses, not the expenses for individual share classes. Moreover, the annual fee amounts are estimated values, and the final actual amounts are subject to the disclosures in the periodic reports of the fund. 2. The expenses and tax liabilities incurred by this fund from trading securities, funds, etc., are deducted from the fund assets based on the actual amounts incurred.
Asset Allocation
Type of asset Amount(RMB) % of Total Asset of the Fund
Equity Investment 2,096,667,050.45 89.91%
Fixed Income 9,735,195.73 0.42%
Bank Deposit and Settlement Reserve 224,302,437.32 9.62%
Others 1,244,032.60 0.05%
Total 2,331,948,716.10 100.00%
Total Asset: 0 !
Net Asset Value (NAV) = Total Asset Value - Total Liability. There could be difference between total asset value and net asset value due to the possible liability (e,g, payable). All numbers are calculated on fund level.
Top 10 Stock Holding(59.3%)
Stock Name Stock Code Number of Shares % of NAV
Kweichow Moutai Co.,Ltd. 600519 135,585 9.33%
Wuliangye Yibin Co.,Ltd. 000858 1,607,793 9.31%
NAURA Technology Group Co., Ltd. 002371 441,200 8.09%
Chaozhou Three-Circle (Group) Co.,Ltd. 300408 3,423,600 5.98%
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. 600809 553,400 5.23%
Sailun Group Co.,Ltd. 601058 7,718,187 4.91%
Henan Shenhuo Coal & Power Co.,Ltd 000933 5,168,263 4.27%
Bank of Ningbo Co., Ltd 002142 3,680,813 4.19%
Midea Group Co., Ltd 000333 1,160,600 4.02%
Zhejiang CFMOTO Power Co., Ltd. 603129 481,729 3.97%
Risk Disclaimer

Dear Investors,

Please be advised that investment inherently carries risks, and it is recommended to allocate capital prudently. The mutual fund (hereinafter referred to as the "Fund") is structured as a long-term investment vehicle, primarily aimed at diversifying investments and mitigating the risks associated with individual security acquisitions. Unlike financial mechanisms offering guaranteed returns, such as savings accounts, subscribing to a mutual fund entails participating in the Fund's portfolio returns relative to your investment share, as well as bearing any associated losses.

In compliance with current regulatory requirements, distributors must classify investors' categories, assess investors' risk tolerance, and determine the risk level of the funds, providing appropriate matching advice. Note that discrepancies may exist between the Fund's risk descriptions in its legal documentation and the risk evaluations made by the distribution entity. Therefore, before making any investment decisions, investors are urged to carefully read and understand the product’s legal documents, including the Fund Contract, Prospectus, Summary of Fund Information, and Risk Disclosure Statement. This will ensure a thorough understanding of the risk-return dynamics and intrinsic attributes of the Fund. Investors should meticulously evaluate the Fund’s various risk factors and, considering their investment objectives, timelines, experience, and financial standing, conduct a comprehensive assessment of their risk tolerance. This will allow for informed and prudent investment decisions based on an intrinsic understanding of the product and suitability assessments provided by the distributors.

Pursuant to relevant legal frameworks, E Fund Management Co., Ltd., as the Fund Manager, hereby disseminates the following risk disclosure:

I. Depending on their investment objectives, the Fund is classified into various categories, including equity funds, balanced funds, bond funds, money market funds, fund-of-funds (FoF), and commodity funds. Each category offers differing expectations of return and associated risks. Generally, higher expected returns are often accompanied by higher risks.

II. Investors should achieve a robust understanding of the differences between systematic investment plans and traditional savings methods such as fixed deposits. Systematic investment plans are designed to promote long-term investment and average investment costs, but they do not insulate investors from market risks or guarantee returns. Thus, they should not be viewed as direct substitutes for traditional savings methods.

III. During its investment operations, the Fund may encounter various risks, including market risk, liquidity risk, management risk, tax risk, technological risk, and compliance risk. A specific risk to open-end funds is that of substantial redemptions—if the net redemption requests exceed 10% of the Fund's total share volume on any given business day, investors may experience delayed redemptions or may not be able to redeem all their shares promptly.

IV. Potential investment risks associated with the Fund include: (1) market risk; (2) liquidity risk; (3) management risk; (4) additional risks arising from the Fund's investment scope, such as stocks on the Science and Technology Innovation Board, stock index futures, treasury bond futures, stock options, various financial derivatives, short-term corporate bonds issued by securities companies, private bonds of small and medium-sized enterprises, and depository receipts; (5) potential inconsistencies between the Fund's risk descriptions in legal documents and evaluations by distributors; (6) and other unforeseen risks.

V. The Fund Manager commits to managing and utilizing the Fund's assets with diligence, integrity, and honesty. However, the profitability or a minimum return on the Fund cannot be guaranteed. The Fund's historical performance and net asset values are not indicative of future performance. The performance of other funds managed by E Fund Management Co., Ltd. is not a guarantee for the performance of this Fund. Investors are reminded to adhere to the principle of "caveat emptor" when investing in funds and to bear the associated risks of fluctuations in the Fund’s operations and net asset values when making investment decisions. Neither the Fund Manager, the custodian, the distributors, nor affiliated entities make any commitments or guarantees regarding the Fund’s returns.

VI. The registration of the Fund with the China Securities Regulatory Commission (CSRC) does not imply any substantive judgment or guarantee of its value or returns, nor does it indicate that the Fund is risk-free. The Fund Manager manages and utilizes the Fund's assets adhering to principles of diligence, honesty, and credibility, but cannot guarantee profitability or a minimum return. Investors who purchase fund shares in accordance with the Fund Contract become unit holders and parties to the Fund Contract. Any disputes arising from or in relation to the Fund Contract should initially be resolved through negotiation and mediation. If negotiation fails, arbitration will be the final means of dispute resolution, as detailed in the Fund Contract. The Fund Contract, Prospectus, and Information Summary of this Fund have been publicly disclosed on the CSRC Fund Electronic Disclosure Website at http://eid.csrc.gov.cn/fund and on the Fund Manager's website at http://www.efunds.com.cn.

VII. Investors are advised to purchase or redeem Fund shares through the Fund Manager or other authorized institutions with fund sales qualifications. A list of such institutions can be found on the Fund Manager's website.