1
2012 5 21 [2012]677 2012 7 25
2015 7 25 2015 6 30
2
..................................................... 3
..................................................... 4
............................................... 9
.............................................. 20
............................................ 24
.............................................. 32
.......................................... 33
.............................. 34
.............................................. 46
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............................................ 63
........................................ 65
...................................... 72
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.................................... 87
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............................. 130
........................... 132
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3
4
1
2
3
4
5
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9 2003 10 28 2004 6 1
10 2011 6 9 10 1
11 2004 6 8 7 1
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13
14
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BANK OF COMMUNICATIONS CO.,LTD
188
188
200120
1987 3 30
742.62
[1998]25
021-95559
1908 2005 6 2007 5 2010 (FORTUNE) 500 243 83 1,000 23 7 2014 2015 3 31 6.63 189.7
( )
2013 10 2013 5 2013
21
10 2009 12 2013 5 1983 1997 1999
2013 11 2013 10 2010 4 2013 9 2005 8 2010 4 2004 9 2005 8 2004 6 2004 9 2001 9 2004 6 1994
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2015 132 QFII RQFII QDII QDLP
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021 61870808
021 61601555
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021 61870666
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021-58408483
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2
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336 1870-5
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32
2012 5 21 [2012]677
4019 606170350.17 606170350.17 ( A
204783958.18 C 401386391.99 ) 98817.68 98817.68 ( A 39150.76 C 59666.92 ) 101004 0.01666% 2012 7 25 1.00
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GARP Growth at a Reasonable Price GARP
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5
60
, 2012 7 25 2015 6 30
A
- -
2012 07 25 -2012 12 31
1.4% 0.04% 0.49% 0.13% 0.91% -0.09%
2013 01 01 -2013
12 31
-0.92% 0.35% -2.47% 0.18% 1.55% 0.17%
2014 01 01 -2014
12 31
25.02% 0.50% 14.93% 0.18% 10.09% 0.32%
2015 01 01 -2015
06 30
23.93% 2.10% 5.07% 0.25% 18.86% 1.85%
2012 07 25 -2015 06 30
55.66% 0.93% 18.35% 0.19% 37.31% 0.74%
C
- -
2012 07 25 -2012 12 31
1.21% 0.04% 0.49% 0.13% 0.72% -0.09%
2013 01 01 -2013
12 31
-1.34% 0.35% -2.47% 0.18% 1.13% 0.17%
2014 01 01 -2014
12 31
24.49% 0.50% 14.93% 0.18% 9.56% 0.32%
2015 01 01 -2015
06 30
23.70% 2.10% 5.07% 0.25% 18.63% 1.85%
61
2012 07 25 -2015 06 30
53.76% 0.93% 18.35% 0.19% 35.41% 0.74%
10%× 300 90%×
Return t =10%×[ 300 t / 300 (t-1)-1]+90 ×[ t / (t-1) -1]
Benchmark t = 1+Return t ×Benchmark(t-1)
t =1 2 3 T T
A
2012 07 25 -2015 06 30
2012 7 25 6 2013 1 24
C
2012 07 25 -2015 06 30
62
2012 7 25 6 2013 1 24
63
1
2
3
4
5
6
7
8
9
1
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021-61870666 400-630-6999
1 7×24
2
3
2-7
400-630-6999 021 61870666
service@fadfunds.com
1568 29
200122
www.fadfunds.com
132
www.fadfunds.com
133
2015 9 7