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Minsheng Securities Investment Enhanced Yield Bond Fund prospectus _ Finance (Continued from D5 Edition) (7) known to leak during his tenure of the securities, the Fund's trade secrets, not according to the contents of public fund investment, fund investment plans and other information; (  Unless the laws and regulations, the fund management company system Fund investments, directly or indirectly, for other stock trading; (9) violation of stock exchange business rules, the use of knock down warehouses and other means to manipulate the market prices, disturb the market order; (10) intentional damage to investors and other industry bodies, legitimate rights and interests; (11) through improper means to seek business development; (12) contrary to public morality, harm the image of Securities Investment Fund staff; (13) disclosure of information is untrue, misleading, fraudulent; (14) laws and regulations and other acts prohibited by the CSRC. 4. The fund managers will fund the provisions of the contract, according to the prospectus stated investment objectives, strategies and restrictions on hand in dealing with the Fund's investments. 5. The fund managers do not engage in violations of \; (3) in the unlimited liability of the investment; (4) the sale of shares of other funds, but, except as otherwise provided in the State Council; (5) to the fund manager and fund trustee investment or trading the fund manager and fund custodian issued shares or bonds; (6) Trading the fund manager and fund trustee or a controlling shareholder of the relationship between the fund manager and fund custodian have other significant interest in the securities issued by the company during the underwriting or underwriting securities; (7) engage in insider trading, price manipulation and other improper securities trading in securities trading activities; ( in accordance with laws and regulations, the securities regulatory authority by the State Council and other prohibited activities. (E) commitment to a fund manager. Fund in accordance with relevant laws and regulations and provisions of the contract, in line with the principles of prudent fund the maximum benefit of share holders; 2. Not use his position for themselves and their being agents, servants or any third party to seek benefits; 3. Does not violate the relevant laws and regulations in force, the fund contract and the relevant provisions of China Securities Regulatory Commission, known leaks during his tenure of the securities, the Fund's trade secrets, not according to the contents of public fund investment, fund investment plans and other information; 4. Funds do not engage in damage to property and the interests of fund shareholders in securities transactions and other activities. (Vi) internal control system of fund managers that the fund managers Minsheng Royal Fund Management Co., Ltd. (hereinafter referred to as company) to strengthen internal control, and promote integrity of the company, legal, effective management, protection of the interests of fund shareholders, maintaining the company and the legitimate interests of shareholders, according to the \Management Limited Internal Control Framework. \Internal control is to prevent and reduce corporate risk, to ensure that the operations meet the company's development plan, taking full account on the basis of internal and external environment, through the establishment of institutional mechanisms, the use of management methods, operating procedures and control measures implemented to form the system . Companies to establish a scientific and rational, tightly controlled, efficient operation of internal control system, to develop scientific sound internal control system. Internal control system by the internal control framework, the basic management systems, departmental business rules and other components. Board of Directors of the companies to establish internal control systems and the ultimate responsibility to maintain its effectiveness, management of the internal control system responsible for the effective implementation. 1. The overall objective of internal controls (1) company operations to ensure strict compliance with relevant laws and regulations and industry regulatory rules, and consciously form a law-abiding, normal operation of the business ideas and business philosophy. (2) prevent and reduce operational risks and improve management effectiveness and ensure the stable operation and business assets entrusted the safety and integrity, to achieve the company's sustained, stable and healthy development. (3) ensure that the funds, corporate finance, and other information is true, accurate, complete and timely. 2. The following principles of internal control (1) a sound principle. Internal control covers all the business of the company, each department or agency and at all levels and includes decision-making, implementation, monitoring, feedback and other links. (2) the effectiveness of principle. Internal control through scientific means and methods, and establish reasonable internal control procedures, maintaining effective internal control system implemented. (3) the principle of independence. The company's various agencies, departments and job responsibilities set to remain relatively independent, the company's fund assets, assets and other assets owned operation from each other. (4) the principle of mutual restraint. The company set up various departments and positions, accountability and checks and balances. (5) cost-effective. Company uses scientific management methods to reduce operating costs, enhance economic efficiency, cost control at a reasonable internal controls to achieve the best results. 3. Development of the internal control system the following principles (1) the principle of legal compliance. Internal control system in line with national laws, regulations, rules and provisions. (2) The principle of comprehensiveness. Internal control system covering all aspects of company management, may be left blank or system vulnerabilities. (3) the principle of prudence. Development of prudent operation of internal control systems to prevent and reduce risk as a starting point. (4) timely principle. With the adjustment of the relevant laws and regulations and corporate business strategy, operating principles, business philosophy and other internal and external environment changes in a timely manner to amend or improve the internal control system. 4. The basic elements of internal control the basic elements of internal control including the control environment, risk assessment, control activities, information communication and internal controls. (1) control environment constitutes the basis for internal control, control, internal control environment, including business philosophy and culture, corporate governance, organizational structure, employee moral qualities and so on. (2) The company's management firmly establish the concept of internal control and risk management priorities, develop staff awareness of risk prevention and create a strong culture of internal control to ensure that all employees keep abreast of state laws and regulations and company rules and regulations, the risk awareness throughout to the company various departments, various positions and various links. (3) improve their corporate governance structure, fully independent directors and the supervisory board of the oversight function to prohibit improper related party transactions, benefits delivery and the occurrence of the phenomenon of insider control and protect the interests of investors and corporate legal rights. (4) The duties of the company's organizational structure reflects the clear, the principle of mutual restraint, the department has a clear mandate to the division of labor, operating independently of each other. Companies to establish decision sciences, operational norms, management and efficient operation of mechanisms, including democratic and transparent decision-making procedures and management rules, efficient, robust implementation of business systems, as well as sound and effective internal monitoring and feedback system. (5) based company set up its own operating characteristics of the order of progression, powers and responsibilities of unity, strict and effective internal control line of defense: 1) the specific job responsibilities, a detailed job description and business processes in the induction of all staff positions should be aware of before and written promise to abide by, within their authority responsibility. 2) passes the credentials to establish important business processes and information communication system between related departments and post checks and balances. 3) The inspector general and internal company audit department to monitor independent of the other sector, the implementation of the internal control system to implement stringent checks and feedback. (6) the establishment of effective human resources management system and improving the incentive and restraint mechanisms to ensure that companies have with their positions at all levels meet the requirements of professional conduct and professional competence. (7) the establishment of rigorous scientific risk assessment system, the internal and external risk identification, assessment and analysis, timely prevent and reduce risks. ( establish a strict and effective license management system, authorization controls throughout the company has business activities. 1) to ensure that shareholders, board of supervisors and management to fully understand and exercise their respective powers, authorized to establish and improve standards and procedures to ensure the implementation of authorization system. 2) the company business units, branches and at all levels within the authority in the exercise of the provisions of the corresponding duties. 3) The major business of the company authorized in writing, power of attorney expressly authorized the content and timeliness. 4) the company is properly licensed, authorized establishment of evaluation and feedback mechanisms, including the departments and personnel have been authorized to feedback and evaluation have been authorized in a timely manner does not apply to amend or cancel the authorization. (9) establish a sound system of separation of assets, company assets and fund property assets between different funds and other trust assets, the implementation of independent, separate accounting. (10) to establish a scientific and strict system of separation of the posts, a clear delineation of job responsibilities, investments and transactions, trading and settlement, fund accounting and corporate accounting and other important staff positions shall not overlap. Important business sector and jobs for physical isolation. (11) Development of effective emergency response measures to establish mechanisms and procedures for crisis management. (12) to maintain communication channels open, to establish a clear reporting system. (13) to establish effective internal control system, set the inspector general and independent supervision and auditing departments, internal control system of the implementation of ongoing monitoring to ensure implementation of internal control system. Company regularly evaluate the effectiveness of internal control, and the market environment, new financial instruments, new technology and new laws and regulations to improve the situation in due course. 5. The main contents of the internal control (1) the company conscientiously abide by relevant state laws and regulations, in accordance with the investment management business of the nature and characteristics of rigorous development of management regulations, operating procedures and job manuals, clearly reveals the different business point of possible risks and to take control measures. (2) operational control of the main contents include: 1) research to be independent and objective. 2) rigorous research to establish business processes, a scientific and effective research methods. 3) establish a library system, alternative investments, according to fund contractual requirements, in the full study, based on the establishment and maintenance of alternative library. 4) the establishment of research and investment business communication system, with clear channels of communication. 5) the establishment of research quality evaluation system. (3) operational control of the main investment decision-making include: 1) strict compliance with the relevant provisions of the laws and regulations, in line with the provisions of the contract the Fund's investment objectives, investment scope, investment strategy, portfolio and investment restrictions and other requirements. 2) improve the investment decision-making authority system, clearly define the investment authority, strict compliance with investment restrictions, to prevent unauthorized decision. 3) there is adequate investment investment decisions based on the importance of a detailed report on investment and risk analysis support, and decision-making records. 4) the establishment of investment risk assessment and management system, in setting the amount of risk for investment decision-making authority. 5) establish a scientific evaluation system of investment management performance, including portfolio situation, whether funds product features and decision-making process, fund performance attribution analysis and so on. (4) Fund control major transactions include: 1) centralized trading system for fund transactions, fund managers may not be directly issued to the traders to trade or direct investment instructions. 2) create a transaction monitoring system, early warning systems and transaction feedback system, improve the related security facilities. 3) transaction management department and investment order to confirm their legal, compliance and integrity of the rear of the executable, if there illegal instruction or other unusual circumstances shall be reported to the appropriate departments and personnel. 4) the implementation of fair trading company distribution system, to ensure that the interests of different investors can be treated fairly. 5) setting up the transaction log system, in time to collate and archive portfolio daily list of such custody. 6) establish a scientific evaluation system of trading performance. According to the principle of internal control, the development over the counter, under the net purchase transactions and other special procedures and rules. (5) the establishment of strict and effective system to prevent improper related party transactions damage the interests of fund shareholders. Related party transactions involving investment funds, investment research reports in the relevant specified, shall be reported to the company Risk Control Committee for approval. (6) Company operations and prudent on the basis of legal norms and strive to financial innovation. Under the premise of full argument careful consideration of financial innovation species or the legal nature of the business, operating procedures, economic consequences, strictly control financial new products, new business and run the risk of legal risk. (7) establish and improve standards of customer service, sales channel management, advertising code of conduct, the establishment of advertising, sales practices law review system, develop guidelines for sales staff, strict incentives. ( the registration of transfer of work to develop detailed process, transfer of a registration computer system, data periodically check the backup system, establish confidentiality of customer information storage system. (9) Company in accordance with laws, regulations and relevant provisions of China Securities Regulatory Commission, establish and improve the information disclosure system to ensure public disclosure of the information is true, accurate, complete and timely. (10) The person responsible for the company with information disclosure, the organization of information, review and release. (11) to strengthen information disclosure on the company and fund the inspection and evaluation of the existing problems to improve timely way, to put forward opinions errors occur, and to hold the relevant people. (12) The master, officers inside information before the public disclosure of information shall not disclose its contents. (13) in accordance with national laws and regulations, follow the safety, practicality, feasibility principle of strict management system to develop information systems. Information technology systems design and development of the national financial industry software engineering standards, the preparation of complete technical information; in the realization of e-business, set the security system and the corresponding control mechanisms, and to ensure that computer systems can be protracted, information technology systems put into operation before, after the business, operations, supervision and auditing departments of the joint acceptance. (14) through a strict licensing system, post responsibility system, access control system, the system of separation of internal and external network management measures to ensure the safe operation of the system. (15) computer room, equipment, network hardware requirements to meet the standards, equipment operation and maintenance of a clear responsibility to implement the process management, strict separation of business operations, technical maintenance and other responsibilities. (16) take full account of the use of our software to software security, reliability, stability and scalability, with authentication, access control, recovery, security, separation of powers constraints and other functions. Information technology systems design, software development and other technical personnel involved in the actual business operations may not. Users change the password for the password on a regular basis, shall not be disclosed to others. The password database and operating system passwords are kept by different officers. (17) on the strict management of information and data to ensure data security of information, true and complete, and timely and accurate transmission to the accounting and other functions; strictly authorized computer transaction data revision process, and adhere to the electronic information data Regular inspection system. The immediate establishment of electronic information and data preservation and backup systems, remote backup of important data and long-term preservation. (1 information technology systems audit checks on a regular basis, improve the business data storage and other safety measures for troubleshooting, disaster recovery drills to ensure the system is reliable, stable and safe operation. (19) Under the \operating procedures and work manuals accounting positions, and control points for each risk to establish strict control of the accounting system. (20) Clear division of responsibility in a clear position on the basis of division of the accounting job responsibilities, positions against the need for mutual supervision and operation by one person alone, the whole process. (21) to the main fund accounting, prepare accounts separate, independent accounting to ensure registration of the names between different funds, account settings, funds transfer, books and records so independent of each other. Fund accounting and corporate accounting independent of each other. (22) to take appropriate accounting controls to ensure the normal operation of accounting system. 1) create a certificate system designed by the certificate, registration, transfer, archive and a series of credential management system to ensure proper records of transactions, a clear economic responsibility. 2) the establishment of accounting organizations and the accounting treatment system, the correct set of accounting books, accounting accounting control procedures. 3) establish a review system for review by the accounting and business review to prevent the generation of accounting errors. (23) take reasonable valuation of the valuation methods and scientific procedures, the fair reflects the Fund invests in securities on the valuation point value. (24) regulate the work of clearing and settlement funds, within the scope of authorization, timely and accurate completion of fund liquidation, ensure that the Fund property. (25) the establishment of strict cost control and performance evaluation system, strengthen the accounting before, during and after supervision. (26) set up a sound accounting and financial transfer system of record keeping, safekeeping of the accounting department TEST KEY, business with the chapter, checks and other important credentials and accounting files, access to rigorous procedures of accounting data, accounting data to prevent damage, loss and leakage . (27) strict approval system and the development of financial revenue and expenditure reimbursement operations management approach, consciously abide by the national tax system and financial discipline. (2 companies to set up inspector general of the Board, appointed by the Board, reported to the CSRC for approval. According to the company needs to monitor and audit the work authorized by the Board, Inspector General may attend relevant meetings of the company, access to company files related to the implementation of the internal control system to carry out independent inspections, evaluations, reports, proposals functions. Inspector regular and irregular reports to the Board the implementation of internal control, the Board considered the report of Inspector General. (29) companies to set up supervision and auditing departments of the company's management is responsible to carry out surveillance audit, the company monitoring the audit departments to ensure the independence and authority. (30) clearly monitor the internal audit department and the specific responsibilities of each position, with adequate supervision and auditing personnel, strict monitoring of the professional audit staff qualifications, strict supervision and auditing of operating procedures and organizational discipline. (31) strengthen the internal inspection system and inspection through regular or irregular implementation of the system of internal control, ensure the effective operation of management activities. (32) Board of Directors and management attention and support monitoring of audit work on the violation of laws, regulations and internal control systems and hold relevant departments and personnel responsibilities. 6. Fund Manager's statement on internal control system (1) above is committed to the disclosure of internal control system true and accurate. (2) the company undertakes to market changes and business development continue to improve the internal control system. Fourth, the fund custodian (a) of the fund custodian 1. Basic Name: China Construction Bank Corporation (referred to as: China Construction Bank) Address: Beijing, Financial Street, Xicheng District, the 25th office address: Xicheng District, downtown Port Building 1, 1st Street Legal representative: Guo Shuqing Established : September 17, 2004 Organization Type: Corporation Capital: Erqian Triple Bai Bai Jiu San Shi Lu billion Baqian eight million Siqian Yuan Renminbi zero duration: Continuing operations eligible for approval and fund custodian of the text: CSRC SFC-based word will be [1998] 12 Contact: Yoon Dong Tel :010 -67,595,003 China Construction Bank Corporation has a long operating history, its predecessor, \\China Construction Bank is one of four major commercial banks in China. China Construction Bank China Construction Bank Corporation was formed in September 2004 set up separate, inherited the former China Construction Bank's commercial banking business and related assets and liabilities. China Construction Bank (stock code: HK0939) on October 27, 2005 listed on the Hong Kong Stock Exchange, is the first in the four major commercial banks in overseas publicly listed bank. September 11, 2006, China Construction Bank and as the first H-share companies joined this Hang Seng Index. September 25, 2007 China Construction Bank A shares in Shanghai Stock Exchange and began trading. A shares after the release of the bank's total number of issued shares: 233,689,084,000 shares (including 224,689,084,000 shares of 9,000,000,000 shares of H shares and A shares). In 2008, China Construction Bank's overall profitability and asset quality to continue leading the industry, as of December 31, 2008, China Construction Bank net profit of 92.64 billion yuan, representing an increase of 34%; average assets of 1 .3% return on average equity was 20.7%, respectively over the previous year by 0.16 percentage points and 1.18 percentage points, ranking the best level in the banking industry; earnings per share is 0.4 yuan, an increase of 0.10 yuan; total assets of 75,554.52 million, representing an increase of 14.51%; asset quality and a steady increase in the amount of bad loans and bad loan ratio to achieve double-down, credit quality continued to improve, performing loan ratio was 2.21%, down 0.39 percentage points over the previous year; provisioning levels sufficient provision coverage ratio was 131.58 percent, 27.17 percent increase over the previous year. China Construction Bank, the mainland of China with 1.4 million in the branches, and in Hong Kong, Singapore, Frankfurt, Johannesburg, Tokyo and Seoul, has branches in London, New York, with offices in Sydney, New York Branch, London and a bank official received a business license. China Construction Bank China Construction Bank in Hong Kong has Asia and CCB International two wholly owned subsidiaries. The bank has installed ATMs run (ATM) 31,896 units, ranking first in global banking. In 2008, China Construction Bank in the British \bit; by \Best Commercial Bank \Retail Risk Management Excellence Award \Investment in China Construction Bank set up the Ministry of managed services, integrated system under the Department, the fund market place, asset custody at, QFII custodian office,tory burch outlet, fund accounting office, fund liquidation Office, the Oversight Audit Office and the investment trust team, foreign asset accounting team Pension Managed Services team, pension managed marketing team, the Shanghai backup center functions such as 12 offices and currently employs 130 people. In 2008, China Construction Bank has passed under the AICPA (AICPA) issued by the Auditing Standards No. 70 (SAS70) for the internal control audit, Ernst & Young's submission of the \Report, \2. Luo Zhongtao key personnel situation, investment, general manager of managed services, has worked for the State Statistical Bureau, China Construction Bank assessment, credit, agency and other business and leadership work, statistics, evaluation, credit and has extensive agency management experience. Lichun Xin, deputy general manager of investment managed services, has worked for China Construction Bank, the Ministry of Personnel and Education, Ministry of Planning, financing savings, international business department, comprehensive business plan for commercial banks, retail business and has extensive international business customers service and business management experience. Ji Wei, deputy general manager of investment managed services, has worked Nantong Branch of China Construction Bank, China Construction Bank, the Ministry of Planning and Finance, the credit management department, business department, engaged in large customer account management and service work, with extensive experience in customer service and business management. 3. Fund custody business operation as of December 31, 2008, China Construction Bank has managed Huaxia Xing Hua closed, Huaxia Xing and closed, Harvest Taihe closed closed Jinxin Cathay Pacific, Cathay Pacific Jinsheng closed facility closed through Qian, Galaxy Yinfeng closed or seven closed-end securities investment funds, and growth of mixed Chinese to finance the new blue-chip hybrid, Bo, when mixed value growth, Fortune SGAM Po Hong configuration mixing, Fortune SGAM Po Hong consumer stocks, bonds Fortune SGAM Po Hong, Bo Yu-Fu Index when the Great Wall for a long time constant balancing mixed mixed Yinhua guaranteed value, China is Jinzeng Li currency, multi-strategy equity Fortune SGAM, National Tai Jinma sound mixing, Yinhua - Dow Jones 88 index, on the advantages of mixed-JP Morgan China, Eastern Long mixed, Bo Theme Industry stock (LOF), Wah Fu competitive selection mix, Fortune SGAM Cash Po currency, the JP Morgan currency, China dividends mixed, Bo, when the stable value of the bonds, the value of preferred stock Yinhua, CIFM Alpha shares, stock dividends, CITIC, ICBC currency, the Great Wall consumer value stocks, the Shanghai Hua 180ETF, interest on the balance of JP Morgan double-mixing, ABN AMRO TEDA Efficiency optimization of mixed (LOF), Chinese small plates ETF, Bank of strong configuration mixing, Fortune SGAM mixed earnings growth, Fu currency, ICBC Selected Balanced Mixed, Peng Hua Value Advantage Stock (LOF), CITIC stable double profits bonds, Hua An Hongli stocks, the Vanguard Growth Equity JP Morgan, Boshi Value Growth II No. mixing, sea-Fortis shares edge style, silver Hua Fuyu theme stocks, China Advantage Growth Equity, Fidelity Growth Stock essence, ICBC steady growth stocks, Cinda Leaders Growth Equity, Nord advantage of the stock value, ICBC increased revenue bonds, the value of Cathay Pacific TIS mixed, the rich days of Bo Innovation stocks, growth stocks leading facility (LOF), Fortune SGAM Selected stock industry, ICBC stock dividends, preferred stock market value of ABN AMRO TEDA, Great Wall brand preferred stock, Bank of blue chip tickets, Huaxia Global Equity (QDII), easy to square up to enhance the return on bonds, the South Sheng Yuan dividend stocks, Bank of increased profits bonds, ICBC Tim Lee Bond, Bauhinia resources preferred stock, Hua stable yield debt, the Industrial Social Responsibility stocks, China Bao Overseas Chinese Industrial stocks (QDII), China Overseas stock sea Fortis (QDII), Bauhinia enhanced income securities, bonds harvest Peng Hua, Bo, when franchise value stocks, bonds Fu revenue enhancement, Prudential Spirit blue-chip votes, East strategy growth stocks, the new blue-chip mixed-EU, mixed cycle HSBC Jintrust 2026, Cinda essence of configuration mixing, Dacheng strengthen revenue bonds, Bank of Global Select Equity (QDII), Great sound and increased profits bonds, Chinese businessmen flourishing growth stocks, Prudential third benefit bonds, Changsheng active configuration bonds, Peng Hua Shengshi innovation stock (LOF), Hua core stock, the rich countries to strengthen bonds Tin Fung, Everbright Pramerica yield bonds increased profits, Nord flexible configuration mixing, Soochow letter sound excellent bond Yinhua enhance revenue bonds, bond returns Oriental sound, Fu strategy selection and mix 89 open-end securities investment funds. (B) of the fund custodian's internal control system 1. Internal control objectives as a fund custodian, China Construction Bank, managed the business strictly observe the relevant laws and regulations,moncler jackets sale, industry regulations and our regulatory provisions relating to management, compliance management, standardized operation, strict monitoring to ensure the sound operation of the business to ensure that the fund property safety integrity, to ensure that the information is true, accurate, complete, timely and Protection Fund the legitimate interests of share holders. 2. Internal control structure of China Construction Bank has a risk management and internal control committee for the bank risk management and internal control, risk control work on the hosting business for inspection and guidance. Managed Investment Services set up a special monitoring audit department is equipped with a full-time staff responsible for internal monitoring of internal control supervision of the custody business, with the independent exercise of supervision and audit functions and capabilities. 3. Internal control system and measures the Ministry of Investment has managed services system, sound system, control system, the establishment of a management system, control system, job responsibilities, operational processes, can ensure that the trust business, standardize operations and smooth; business people have the qualifications; strict business management review, audit, inspection system, centralized control of authorized work, business seal by order keeping, storage, use, account information strictly kept strict and effective control mechanism; business operating area specially set, closed management, the implementation of audio and video monitoring; full-time business information disclosure by the person responsible, to prevent leakage; automate business operations, to prevent the occurrence of human, technical system integrity, independence. (C) the fund custodian of the fund manager to supervise the operation of the Fund's methods and procedures 1. Methods of surveillance in accordance with \Using self-developed \operation of fund investment oversight reports submitted to the CSRC. Investment in the daily operation of the fund clearing and accounting of funds provided in the areas of service, the investment of fund managers to send commands, the fund manager of the funds the cost of extraction and to conduct inspection and supervision expenses. 2. Monitoring processes (1) time per working day supervision of sub-system through the Fund for the operation of the fund investment ratio control routine monitoring indicators and found that the proportion of excessive investment in such unusual circumstances, a written notice to the fund manager, and the conduct of fund managers verification, and urge them to correct, and timely report to the CSRC. (2) money received by the fund manager's instruction program, involving the Fund's investment scope, investment and other objects and the contents of counterparty legal compliance oversight. (3) oversight by the fund investment operation, regular monitoring reports prepared by fund investment operations, investment operations of the funds legal compliance, independence and style of investing significantly in areas such as evaluation, submitted to the CSRC. (4) technical or technological means that funds suspected of illegal trading, telephone or written request to the Manager to explain or prove, and timely report to the CSRC. Fifth, related services (a) of the sales organization and contact 1. Direct marketing agencies Minsheng Royal Fund Management Co., Ltd. Registered Address: Yi Tian Road, Futian District, Shenzhen City Business Centre 42 Floor, New World Office Address: Yi Tian Road, Futian District, Shenzhen 42,43 F, New World Business Centre Legal representative: Yang Customer Service Tel: 400-8888-388 Contact: Wen Yunchun Tel :0755 -23999809 Fax :0755 -23999810 Website: www. msjyfund. com. cn2. Commission agencies (1) China Construction Bank Corporation Registered Address: Financial Street, Xicheng District,Uggs Laarzen, Beijing No. 25 Office Address: Port Street, Xicheng District, downtown, Building 1, No. 1 Hospital Legal representative: Guo Shuqing Customer Service Tel: 95533 Contact Person: He Yi Tel :010 -67596088 Fax :010 -66275654 Website: www. ccb. com (2) China Minsheng Banking Co., Ltd. Registered Address: Fu Xing Men Nei Street, Xicheng District, Beijing No. 2 Office Address: Fu Xing Men Nei Street, Xicheng District, Beijing No. 2 Legal representative: Dong Wenbiao Customer Service Tel: 95568 Contact: Dong Yunwei, Wu Haipeng Phone :010 -58351666 Fax :010 -83914283 Website: www. cmbc. com. cn (3) See list of other consignment agency-specific notice of the sale of fund shares. (B) of the Fund registered name: Minsheng Royal Fund Management Co., Ltd. Registered Address: Yi Tian Road, Futian District, Shenzhen City Business Centre 42 Floor, New World Office Address: Yi Tian Road, Futian District, Shenzhen New World Business Centre Building Official 42,43 Person: Yang Tel :0755 -23999888 Fax :0755 -23999810 Contact: Hong Rui Zhu (c) legal opinion of the law firms and lawyers Attn: Shanghai Source Thai Law Firm Registered Address: 256 South Pudong Road, Shanghai Room 1405, Huaxia Bank Building Address: 256 South Pudong Road, Shanghai, Huaxia Bank Building, Room 1405 Person in charge: Liu Hai lawyers handling: Liu Hai, Wu June Tel :021 -51150298 Fax :021 -51150398 Contact: Wu June (iv) Audit Fund accounting firm and the handling of property names Certified Public Accountant: PricewaterhouseCoopers Zhong Tian CPAs Limited Registered Address: 1233 Lujiazui Ring Road Pudong New Area, Azia 1604-1608 Room Address: 202 Hu Bin Road, Shanghai PricewaterhouseCoopers Center, 11th Floor, No. Legal representative: Yang Shaoxin Certified Public Accountants Attn: Wang Di, a single peak Tel :021 -23238888 Fax :021 -23238800 Contact: six single peak, the fund-raising (a) the basis for the fund raising by the fund manager in accordance with \the text approved raising. (B) The fund type and duration of the existence of the Fund type: Bond Fund works: contractual period of the existence of open-end funds: time to time (c) the release of the fund raising period, raising period of June 16, 2009 -2009 in July 17, the Fund for sale to the public during that period. Raising period from the date of sale of fund shares shall not exceed 3 months. Fund managers have the right to raise the actual situation of the Fund in accordance with the procedures available to extend or shorten the recruitment period, such changes apply to all sales offices. See the specific requirements of the fund shares of the Fund and commission agencies offering related announcement announcement. (D) raising target individual investors, institutional investors and qualified foreign institutional investors as well as laws and regulations or the CSRC to allow the purchase of securities investment funds and other investors. (E) to raise the scale of the first to raise the funds do not set the size limit. (F) ways and places available through the fund sales outlets (including the fund manager's direct sales outlets and consignment consignment agency network, the specific list of announcements offering of fund shares, see related announcement) on sale. Sales Agent for the Fund's specific circumstances of the business network and contacts, see the offering of fund shares of the Fund's announcement or notice of local distribution agents. Fund managers may increase or decrease depending on the circumstances change or affiliate organizations, and announce it. (G) raising the subscription offering of the Fund during the period of time the specific business day processing time, the Fund's share offering by the announcement or notice of the sales organization or related to the notification requirement. Various sales organizations in the sale of the fund raising period, individual investors or institutional investors for the specific business processing time may be different, if the share offering prospectus or the notice does not specify, then by the sale of the business sector to decide for a day time. (Viii) the principle of a subscription. The amount of fund shares subscribed by way of subscription; 2. Investor subscription, adjustment shall be specified by way of sale of their contributions in full; 3. Investors in the fund raising share subscription period for many times, but has not allowed to accept applications for revocation of the subscription; 4. Raising period, the individual investor is no limit to the scale of the cumulative subscription; 5. If the investor's subscription application has been recognized as a valid part of the fund manager shall be valid for partial refund of the subscription corresponding to the investors; 6. T day of trading hours for the subscription applications received, under normal circumstances, the Fund registered institutions will apply in the T +1 day to confirm the validity. However, confirmation of the validity of applications received represent only does the investor's subscription applications, subscription applications should confirm the success of the Fund registered agencies in raising funds after the end of the confirmation of registration applies. Investors in the fund after the commencement of the contract to the provisions of the sales outlets,Uggs Laarzen, or other lawful means for its final confirmation query situation. Investors should take the initiative to check the application confirm the results. (I) limit the amount of subscription 1. Investors of the Fund for each subscription is a minimum subscription amount of 1,000 RMB yuan (including subscription fees); 2. Fund managers in accordance with relevant laws and regulations and market conditions, adjusting the amount of the subscription restrictions, fund managers should be adjusted no later than at least one of the first 2 be announced on the designated media. (J) The fund share classes of the Fund under the subscription, purchase fees charged in different ways, will be divided into different classes of fund shares. Investors to subscribe / purchase fund subscription fee, subscription fee, known as the A class of fund shares; do not charge subscription fees, subscription fees, but from the provision of this type of fund assets in the sales and service fees, known as the C class fund shares. The Fund Class A, C fund share classes were set up code. Because the different expenses of the Fund, the Fund Class A Class C fund shares and the calculation of fund shares fund shares will be calculated as: certain types of fund shares calculated at the calculation date = share of such funds net assets of the Fund / the calculation on sale outside of the categories the total number of fund shares. Investors can choose to subscribe, purchase shares in the fund category. (Xi) the rate of the Fund to subscribe for Class A fund shares in the subscription fee funds charge; C class of fund shares do not charge subscription fees. The subscription costs are not included in the Fund the Fund assets, mainly for fund marketing, sales, registration and other fees that occurred during the raising. The Fund's subscription rates are as follows: a single class of fund shares, the subscription amount of MA subscription rates for Class C fund shares, the subscription rates for M <100 万 0.6% 0 1,000,000 ≤ M <200 万 0.4% 2,000,000 ≤ M <500 万 0.2% M ≥ 500 万 per 1,000 investors at the same day or different times subscribed, shall each subscribe for, respectively, corresponding to charge premium rates. When you need to take the proportion of the subscription amount by way of placing the effective partial recognition, investment rates in accordance with subscription applications to subscribe for the amounts recognized in the corresponding rates. (Xii) the face value of the Fund, the subscription price and subscription fees and the calculation of a subscription share. Nominal value of the fund shares of the Fund an initial face value of each fund is RMB 1.00. 2. Subscription price The subscription price of the Fund to fund the initial face value of shares calculated as the base. 3. Formula (1) A class of fund shares, share subscription ratio calculated rates for the subscription fee, the subscription share is calculated as follows: Subscription fee = (subscription amount × subscription rate) / (1 + subscription rates) the net subscription amount = subscription amount - subscription fee to subscribe share = (net subscription amount + interest) / nominal value of fund shares, the subscription fee for the initial fixed amount, the subscription share is calculated as follows: the amount of the subscription cost = fixed amount of the net subscription amount = Subscription - subscription fee subscription share = (net subscription amount + interest) / nominal value of fund shares, the initial example: Suppose an investor to subscribe for 100,000 investment in the Fund's Class A fund shares for the subscription rate of 0.6%, the subscription period of interest for the 100, then the investor to subscribe for shares in the fund can be obtained as follows: Subscription cost = (100,000 × 0.6%) ÷ (1 +0.6%) = 596.42 (million) net subscription amount = 100,000 4. Written confirmation from the China Securities Regulatory Commission the date of filing procedures for completion of the Fund, the Fund contracts to take effect. 2. 3. Fund raising period, records of the fund does not meet the conditions, the fund raising failed. 2. 3. Fund managers, fund custodians and fund raising to pay for the commission agencies for all costs borne by the respective parties. 2. Sales organizations can increase or decrease depending on the circumstances of its sale of the city, outlets, and a separate announcement. Open days and hours open day for investors in the purchase and redemption of fund shares, the specific processing time for the Shanghai Stock Exchange, Shenzhen Stock Exchange trading day of normal trading hours, but the fund manager under the laws and regulations, the CSRC may request or notice of the Fund to suspend provisions of the contract purchase, redemption excluded. The processing time to the specific business sales organizations published prevail. Fund manager may not contract in the fund beyond the date or time for fund shares for subscription, redemption or conversion. Fund after the commencement of the contract, if the emergence of new securities market, stock exchange trading hours changes or other special circumstances, the fund manager will depend on the situation on the previous open days and hours adjusted accordingly, but it should be in accordance with the implementation of the recent \disclosure approach \2. 5. Fund managers may be based on the actual situation of operation of the Fund shall be adjusted on the above principles. Purchase and redemption applications must be invested procedures provided under the sales organization, in the open day processing time within the specific business purchase or redemption request. Investors to purchase the application shall be submitted to the manner provided an ample supply of sales organizations purchase funds, investors redeemed at the time of application submission must hold sufficient funds share of the balance, or submitted by purchase, redemption application invalid. 2. Fund sales organization does not accept applications on behalf of purchase to apply some success, but only true representative of sales organizations receive applications. Investors should take the initiative to check the application confirm the results. 3. If the purchase is unsuccessful or invalid, the fund manager or fund manager will invest a specified commission agencies has paid the purchase money returned to investors. In the event a huge redemption, the funds be paid with reference to the relevant provisions of the contract dealing with the Fund. Investors can make multiple purchases and no limit on total purchase amount. 2. 3. 4. Fund managers must be adjusted in accordance with the former \When you need to take the proportion of the subscription amount by way of placing the effective partial recognition, investors purchase subscription rates apply in accordance with the amounts recognized in the corresponding rates. 2. Redemption fee from the redemption of fund shares assume the fund share holders, share holders in the fund collected when fund shares redeemed. 3. 4. Fund managers can not violate the laws and regulations and the fund contract cases to formulate a fund based on market promotion programs, transactions for a specific (such as online transactions, telephone transactions, etc.) and other investors to fund transactions on a regular or irregular Fund to carry out promotional activities. During the promotional activities of the Fund, by the relevant regulatory authorities required to perform the necessary procedures, the fund manager may purchase the appropriate rate reduction fund and fund redemption rates. 2. Therefore, convertible bonds in the market shares of both debt and, when stock price is higher than the conversion price and the price of convertible bonds and convertible priced less the same time, convertible bonds and the corresponding stock price changes price movements show strong correlation, and when the stock price much lower than the conversion price, convertible bond prices will tend to the pure bond prices, this time, convertible bonds showed strong bonds of . The Fund will study the market conditions, and convertible bonds in the current market conditions shown by the characteristics of convertible bonds to determine the investment strategy, while the Fund will be actively tracking the fundamentals of convertible bonds changes, such as the corresponding company performance as well as the reduction in conversion price may be an opportunity to find the best investment opportunity. In addition, the terms of issue, coupon rate, the higher the option value embedded in the fine and the company's fundamentals convertible bonds, because of its high intrinsic value, reflected in the secondary market, resulting in large primary and secondary market price differential . Therefore, the Fund will also take an active interest in convertible bonds, secondary market spreads on the possible investment opportunities arising in the tight control under the premise of the risk involved in purchase of convertible bonds in the primary market, access to stable income . The Fund's investment securities transactions for the separable main to take the following two strategies: First, a market purchase strategy for the coupon, compare favorable terms of issue of companies, net debt plus the listing price of an option higher than the level corresponding to the market purchase price, the Fund, based on in-depth study and actively participate in a market, purchase, and the premise of strict risk control to obtain a stable income; the second is concerned about the bond market trading after the separable pure intrinsic value of bonds, to explore the intrinsic value is underestimated the species, the secondary market operations. The Fund will be actively concerned about the yield curve changes, the site of the yield curve steeper yield curve ride with appropriate strategies, the use of the rapid decline in the yield curve to obtain the corresponding benefits. The Fund will also pay close attention to and actively seeking to produce the surge in demand for short-term capital investment strategies of the reverse repurchase investment opportunities. The same species in the interbank market and exchange market, bond products in the same period, the market structure on the secondary market, investors in a period of structural and other reasons there may be differences in yield. The viability of the Fund in full, based on arbitrage arguments, looking for the right time, to cross-market arbitrage. The Fund will use certain period of time based on interest in different varieties of bonds, default risk, liquidity, tax features, articles, etc. can be the difference between repurchase yield caused by differences in both buying and selling these Quanzhong to get the two the difference between the proceeds. The Fund will leverage the strength of the company industry researcher, on the assessment of the intrinsic value of shares; the same time, considering the stock issuance policy, the primary market supply and demand and risk-return characteristics, secondary market trading conditions and other factors, prediction of new shares to be subscribed in the ballot rate of return in order to determine the size of the funds at a reasonable selection of stock subscription, purchase of new shares to achieve maximum yield. The Fund's overall assets of the Fund liquidity needs, whether the stock market investment strategy and secondary market prices deviate from their intrinsic value and other factors in the decision to purchase, hold or sell shares obtained. The Fund will be based on macroeconomic, industry characteristics, industry competition structure, business models and other aspects of the industry analysis, synthesis, and industry to determine industry boom valuation levels, from top to bottom to determine the secondary market shares of the Fund industry investment ratio, too high to avoid the risk of industry concentration. Dividends from the historical record, the current dividend capacity, potential for future dividends and other aspects of analysis, evaluation of the indicators are retained earnings per share, earnings per share, net operating cash flow per share, dividend rate. In the resource monopolies, brand, technology innovation and channel has one or more of the core competitiveness advantage enterprises, help enterprises in the fierce market competition to win and maintain long-term comparative advantage, taking advantage of lower cost high returns. Researcher to provide research to research-driven investment of the Fund to support investment decisions strictly implement mechanisms to strengthen support for research on investment decisions, to prevent arbitrary investment decisions. Researchers familiar with the fund's investment objectives and investment strategy, based on a comprehensive study of bond products, depth analysis, extensive use of external reference and research; especially for corporate debentures, researchers should fully understand the national macro-economic policy and industry development conditions, operating conditions of enterprises as the real, regular or irregular basis to provide macroeconomic analysis to write reports, run reports and bond market research reports issuers to the Investment Committee and the fund manager. 2. Investment Committee to consider and decide major issues of fund investments Investment Committee will regularly analyze investment research team provides research reports, discussion of the macroeconomic situation in full, bond and stock market trends, based on the contract of the Fund's investment objectives, investment scope and investment strategies, to determine the Fund's overall investment plans. 3. Construction of the investment fund managers, portfolio fund managers specific investment decisions based on resolutions of the Commission, reference to research team, according to fund the contract, based on analysis of professional experience to determine, in particular within the mandate of building a portfolio, the portfolio's daily management. 4. Central dealing room independent implementation of the investment fund managers to set orders independent central trading room, by the fund managers investment programs based on the requirements and authorization and the operating characteristics of the market and make the relevant decisions of investment operations, sent to the central dealing room transactions commission. Central dealing room of investment fund managers received instruction, according to relevant provisions of the compliance of investment instructions, rationality and effectiveness of inspection, to ensure that investment instruction in legal, compliance by the premise of efficient implementation of the transactions timely feedback, supervision of investment instructions; if the bond trading market and the abnormal situation in a timely manner prompted fund managers. 5. Fund Performance Evaluation of investment fund managers to evaluate management strategies, issued by the self-assessment report. Financial engineering group to continuously evaluate investment management, periodic assessment reports, such as found in the original investment analysis and investment decisions with a greater deviation from the market immediately to the competent leadership and the Investment Committee report. Manager of the Fund Investment Committee and the Panel's assessment of financial engineering, for fund performance evaluation. Fund manager investment decisions based on the views of the Commission to adjust the portfolio. 6. Fund Audit Department to monitor risk control plan for the implementation process of the portfolio daily supervision and risk control in real time, including investment concentration, the proportion of investment portfolio, investment restrictions, investment rights and other transactions, risk control, the Fund Committee in accordance with changes in the market portfolio risk assessment and proposed risk prevention measures. The adjustment of the investment management process to ensure that fund managers in the interests of fund shareholders under the premise of the right to change the investment needs and circumstances, the investment management division of responsibilities and procedures to adjust, and in the prospectus or renewal shall be announced. As the scope of the Fund's investment in China covered bond market index consistent with the scope, so the index can reflect the Fund's risk-return characteristics, but also can be more appropriate to measure the investment performance of the Fund. In the operation of the Fund, if the laws change, or appear more representative, more authoritative, more generally accepted market index, the fund manager and fund custodian consensus report to the CSRC approval announcement, The benchmark of performance to make changes. If the laws and regulations on investment portfolio of the fund contract limit on the changes to after the change shall prevail. Laws, regulations or regulatory authority to cancel the restrictions, if applicable to the Fund, this fund investment restrictions are no longer relevant. Fund custodian of the Fund's investment fund supervision and inspection from the date of entry into force of the contract. 2. In addition according to \Borne by the fund property of non-debt fund property shall not be enforced. Stock Exchange of asset-backed securities, the fair value determined using valuation techniques, valuation techniques is difficult to reliably measure the fair value of the case, at cost valuation.
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