Huashang Fengli Enhanced Fixed-Term Open Bond Welcomes Another Open Period, Class A Ranks First Among Peers Over Nearly 5 Years

In a rapidly changing market, funds that can navigate cycles and consistently generate stable returns for investors are especially valuable. According to data from an authoritative fund rating agency, by the end of 2025, Huashang Fengli Enhanced Fixed-Term Open Bond A ranked first in its category for both 3-year and 5-year performance. Thanks to its outstanding medium- and long-term performance, this fund has become a leader among “Fixed Income+” products. It will open for a new round of subscriptions from March 16 to March 27, 2026, during which investors can subscribe, redeem, or switch (please refer to the company’s official announcement for details).

Huashang Fengli Enhanced Fixed-Term Open Bond A ranks first in its category for 3-year and 5-year performance

Huashang Fengli Enhanced Fixed-Term Open Bond Fund primarily invests in bonds (no less than 80% of the fund’s assets), with a moderate participation in stocks (no more than 20%). Through active management, it aims to achieve stable returns while appropriately engaging in stock investments, demonstrating strong adaptability across different market environments (full investment strategy details are in the fund’s legal documents). According to the latest quarterly report, the fund’s bond asset allocation mainly involves AAA-rated credit bonds, strictly controlling credit risk, and timely participating in interest rate bonds, convertible bonds, and equity assets to enhance returns.

As of December 31, 2025, Huashang Fengli Enhanced Fixed-Term Open Bond A achieved net value growth rates of 41.05% over 3 years and 109.78% over 5 years. Thanks to its excellent performance, data from an authoritative fund evaluation agency shows that the fund’s Class A shares ranked first among 776 similar funds over 3 years and also topped the list among 488 funds over 5 years. Additionally, historical annual performance indicates strong performance (see the table below).

Data source: Fund periodic reports.

Furthermore, the fund operates on a regular open mode, which effectively improves fund capital efficiency, helps investors avoid emotional trading, and enhances overall holding experience.

Strong fund manager Lì Qiān leads with diversified asset allocation to navigate market cycles

Lì Qiān, PhD in Economics

Deputy General Manager of Multi-Asset Investment Department at Huashang Fund

Fund manager of Huashang Fengli Enhanced Fixed-Term Open Bond

Fund manager of Huashang Credit-Enhanced Bonds and other funds

Lì Qiān, the fund manager of Huashang Fengli Enhanced Fixed-Term Open Bond, currently serves as Deputy General Manager of the Multi-Asset Investment Department at Huashang Fund, with nearly 10 years of securities industry experience (including 6 years in securities investment). He believes that due to significant market volatility, relying on a single asset class is difficult to sustain risk resistance. Only scientific, dynamic asset allocation can effectively diversify risks and strengthen the resilience of the portfolio through market cycles.

Behind the excellent performance is also a strong research and investment capability. In January 2026, Tianxiang Investment Consulting released a fund manager rating, awarding Huashang Fund a 5A rating for active bonds over three years. In February of the same year, Ji’an Jinxin’s fund manager rating gave Huashang Fund a five-star rating for secondary bond funds over three years. Additionally, data from an authoritative fund evaluation agency in January 2026 shows that Huashang Fund’s active fixed income funds ranked first in absolute returns over five years among 126 comparable companies, and also topped the list over seven years among 112 companies.

Huashang Fengli Enhanced Fixed-Term Open Bond Fund dynamically adjusts its asset allocation through professional management to adapt to different market conditions, optimizing the investor experience. It is an ideal allocation tool for investors seeking steady returns with some flexibility in their portfolios. We look forward to sharing this prosperous journey with you.

Data note: The current open period for Huashang Fengli Enhanced Fixed-Term Open Bond Fund is from March 16 to March 27, 2026, during which subscriptions, redemptions, and switches are accepted. After 3:00 PM on March 27, 2026, the fund will suspend these activities and enter the next closed management period. The fund does not currently offer regular fixed investment plans. “Fixed Income+” is an investment strategy that combines fixed income assets with equities, aiming for long-term stable returns while strictly controlling risks. The investment philosophies of the fund managers do not necessarily reflect the fund’s investment strategies; specific investment ratios and strategies are detailed in the fund’s legal documents. As of December 31, 2025, Lì Qiān has 3.7 years of securities research experience and 6.0 years of securities investment experience. His previous funds include Huashang Credit-Enhanced Bonds (since July 16, 2020), Huashang Fengli Enhanced Fixed-Term Open Bond (since December 25, 2019), Huashang Lixin Return Bonds (since August 29, 2023), and Huashang Innovation Growth Hybrid Initiated Fund (since January 6, 2025).

Huashang Fengli Enhanced Fixed-Term Open Bond was established on September 20, 2016, with the CSI Aggregate Bond Index as its benchmark. Performance data for the past 5 years (January 1, 2021 – December 31, 2025) and 3 years (January 1, 2023 – December 31, 2025) are from the fund’s periodic reports; ranking data was published by Guotai Haitong Securities in January 2026. The latest net asset value per share can be found on Huashang Fund’s official website.

Management’s 5-star, 5A, and peer ranking evaluation data are as of December 31, 2025, based on the “Interim Measures for the Evaluation of Securities Investment Fund Management Companies.” Ji’an Jinxin’s evaluation considers profitability, performance stability, risk resistance, and the scale of managed products, with ratings from five stars to one star. Tianxiang Investment Consulting’s evaluation assesses the fund management company’s overall strength, investment management ability, and operational stability, ranking from AAAA to A. Active fixed income fund ratings include pure bond funds, hybrid bond funds, and convertible bond funds, ranked by net value growth rate.

The subscription fee for Class A of Huashang Fengli Enhanced Fixed-Term Open Bond, for non-pension clients, varies by subscription amount: less than 1 million RMB at 0.8%, between 1 million and 3 million RMB at 0.5%, between 3 million and 5 million RMB at 0.3%, and 5 million RMB or more at a flat 1,000 RMB per transaction. Class C has no subscription fee. Redemption fees depend on the holding period: for Class A and C, less than 7 days at 1.5%, at least 7 days but redeemed within the same open period at 1.0%, and no redemption fee if held beyond a closed period. Sales service fee for Class A is waived; Class C charges 0.4% per year. Please refer to the fund’s prospectus and legal documents for details. Pension investors subscribing directly through the fund’s sales channels for Class A shares may be subject to different fee rates, as specified in the legal documents.

Risk warning: There is a risk that investors may be unable to subscribe or redeem during the open period. The fund manager commits to honest, diligent, and prudent management of the fund assets but does not guarantee profits or minimum returns. Past performance and net asset value do not predict future results. Performance of other funds managed by the manager does not guarantee the performance of this fund, and past performance of the fund manager does not guarantee future results. Investors should carefully read the fund contract, prospectus, and other legal documents before investing. Please choose products suitable for your risk tolerance and investment goals. The above does not constitute investment advice. Market risks are inherent in all investments; please invest cautiously.