2008
2008 12 31
2009 3 28
1
2008
§1
1.1
2009 3 26
2008 4 30 2008 12 31
2
2008
1.2
§1
...................................................................................................... 2
1.1
........................................................................................................ 2
1.2
.......................................................................................................... 3
§2
................................................................................................................ 5
2.1
................................................................................................ 5
2.2
................................................................................................ 5
2.3
............................................................................ 5
2.4
................................................................................................ 6
2.5
................................................................................................ 6
§3
................................................ 6
3.1
............................................................................ 6
3.2
................................................................................................ 7
3.3
.................................................................... 9
§4
............................................................................................................ 9
4.1
.......................................................................... 9
4.2
................................ 10
4.3
.............................................11
4.4
.............................11
4.5
............................ 12
4.6
............................................ 12
4.7
........................................ 13
4.8
............................................ 13
§5
............................................................................................................ 14
5.1
................................................ 14
5.2
..................................................................................................................... 14
5.3
14
§6
.............................................................................................................. 15
§7
...................................................................................................... 16
7.1
.................................................................................................... 16
3
2008
7.2
............................................................................................................ 17
7.3
................................................................ 18
7.4
........................................................................................................ 19
§8
...................................................................................................... 40
8.1
................................................................................ 40
8.2
................................................................ 41
8.3
.... 42
8.4
............................................................ 43
8.5
........................................................ 45
8.6
45
8.7
............................................................................................................................. 45
8.8
46
8.9
........................................................................................ 46
§9
.......................................................................................... 47
9.1
.................................................... 47
9.2
............................ 47
§10
........................................................................................ 47
§11
.................................................................................................... 48
11.1
.......................................................................... 48
11.2
.......... 48
11.3
.............................. 48
11.4
.................................................................................. 48
11.5
...................................................... 48
11.6
...................... 48
11.7
.................................................. 49
11.8
.............................................................................................. 49
§12
...................................................................... 52
§13
.................................................................................................... 52
4
2008
§2
2.1
340007
2008 4 30
1,137,731,245.85
2.2
80%× 300 20%×
2.3
021-58368998 010- 67595003
dujx@xyfunds.com.cn yindong.zh@ccb.com
4006780099 021-38824536 010 -67595096
021-58368858 010-66275853
368 25
500 1 5
2008
20 1
200122 100140
2009 3 12
2.4
www.xyfunds.com.cn
2.5
1601 29
500 20
§3
3.1
3.1.1
2008 4 30 2008 12 31
-215,816,919.20
-311,106,325.85
-0.2537
-29.38%
-22.20%
6
2008
3.1.2
2008 4 30 2008 12 31
-252,774,263.51
-0.2222
884,956,982.34
0.778
3.1.3
2008 4 30 2008 12 31
-22.20%
1 1 < >
2
3
4 2008 4 30 2008 12 31
3.2
3.2.1
-7.16% 2.06% -13.49% 2.40% 6.33% -0.34%
-13.07% 1.72% -26.81% 2.34% 13.74% -0.62%
-22.20% 1.55% -42.12% 2.34% 19.92% -0.79%
80% 300 20% 300 300 A 300 A A
7
2008
Return
t
=80% 300 t
/ 300 t-1
-1 +20 t
/ t-1
-1
Benchmark
t
= 1+Return
t
Benchmark
t-1
t=1 2 3
3.2.2
2008 4 30 2008 12 31
1 2008 12 31
2 2008 4 30 2008 10 29
3 2008 4 30 2008 12 31
8
2008
3.2.3
2008 4 30 2008 12 31 2008 4 30 2008 12 31
3.3
§4
4.1
4.1.1
[2003]100 2003 9 30 2008 1 2 [2008]6
AEGON International N.V 51% 49% 2008 9
2008
7 7 [2008]888 1.2 1.5
2008 12 31 LOF
4.1.2
2008-4-30
9
1972
1
2
4.2
10
2008
4.3
4.3.1
4.3.2
5%
% %
-22.20 -42.12
-44.16 -55.10
1 2008 4 30 2008 12 31 2008 1 1 2008 12 31
2
3 2008 4 30 2008 10 29 11 12 1.15%
4.3.3
4.4
2008 A 2006 2007
2007 10 6000 11
2008
2008 A 2008 1820.81 65.39%
2008 4 30 6
4.5
2009 1 2008 2 3 2009 2008
1 A 2008 2 2009 3 2009 2009
4.6
1
2
3 12
2008
2008
4
4.7
1 2 IT IT 3 4 5
3
4.8
13
2008
5
5.1
5.2
5.3
14
2008
6
(2009) 60467611_B05
2008 12 31 2008 4 30 2008 12 31
1 2 3
15
2008
2008 12 31 2008 4 30 2008 12 31
2009 3 26
7
7.1
2008 12 31
2008 12 31
7.4.7.1 154,049,529.25
1,132,744.62
398,503.54
7.4.7.2 732,696,872.96
580,476,341.96
152,220,531.00
16
2008
7.4.7.3
7.4.7.4
2,878,351.84
7.4.7.5 1,800,412.28
104,776.92
7.4.7.6
893,061,191.41
2008 12 31
4,606,472.77
1,109,891.68
940,006.75
156,667.80
7.4.7.7 946,987.08
7.4.7.8 344,182.99
8,104,209.07
7.4.7.9 1,137,731,245.85
7.4.7.10 -252,774,263.51
884,956,982.34
893,061,191.41
2008 4 30 2008 4 30 2008 12 31 2008 12 31 0.778 1,137,731,245.85
7.2
2008 12 31
17
2008
2008 4 30 2008 12 31
-293,367,714.96
1. 8,992,560.88
7.4.7.11 1,794,512.28
6,891,449.75
-
306,598.85
-
2. -
-207,678,477.30
7.4.7.12 -212,406,803.73
7.4.7.13 1,510,467.87
7.4.7.14 269,311.02
7.4.7.15 2,948,547.54
3. - 7.4.7.16 -95,289,406.65
4. -
5. - 7.4.7.17 607,608.11
- -17,738,610.89
1 7.4.10.2.1-10,634,566.61
2 7.4.10.2.2-1,772,427.72
3
4 7.4.7.18 -4,905,179.37
5
-42,687.16
-42,687.16
6 7.4.7.19-383,750.03
-
-311,106,325.85
-
-
-311,106,325.85
2008 4 30 2008 4 30 2008 12 31
7.3
2008 12 31
2008 4 30 2008 12 31
18
2008
1,388,696,479.84 1,388,696,479.84
-311,106,325.85 -311,106,325.85
-
-250,965,233.99 58,332,062.34 -192,633,171.65
1.
359,033,219.85 -65,582,929.91 293,450,289.94
2. -
-609,998,453.84 123,914,992.25 -486,083,461.59
-
1,137,731,245.85 -252,774,263.51 884,956,982.34
2008 4 30 2008 4 30 2008
12 31
7.4
7.4.1
) 2008 356 2008 3 28 2008 4 25 2008 588 2008
4 30 1,388,444,274.71 252,205.13 1,388,696,479.84 1,388,696,479.84
19
2008
80% 300 20%
7.4.2
2006 2 38 < > 2 3
7.4.3
2008 12
31 2008 4 30 2008 12 31
7.4.4
7.4.4.1
1 1 12 31 2008 4 30 2008 12 31
7.4.4.2
7.4.4.3
(1)
20
2008
(2)
7.4.4.4
( )
(1)
21
2008
(2)
(3)
(4)
(2) (3)
(5)
7.4.4.5
22
2008
1)
(1)
(2)
A.
B.
a.
b.
2)
(1)
(2)
(3)
23
2008
(4)
3)
(1)
(2)
(3)
4)
2) 3)
5)
(1)
(2)
7.4.4.6
7.4.4.7
7.4.4.8
/( ) /( ) 24
2008
/( )
7.4.4.9
/
(1)
(2)
(3)
(4)
(5) /( )
(6) /( ) /( )
(7) /( )
(8)
(9) /( )
(10)
7.4.4.10
(1) 1.50%
(2) 0.25%
(3)
25
2008
(4)
7.4.4.11
(1)
(2)
(3) 6 50%
(4) 3
(5)
(6)
(7)
(8)
7.4.5
7.4.5.1
7.4.5.2
[2008]38 2008 9 16
(1) 0.25
(2) 0.25
26
2008
2008 2008 9 16 2008
2008
7.4.5.3
7.4.6
A.
[2007]84 2007 5 30 1 3
2008 4 24 3 1
2008 9 19
[2005]103
B.
[2004]78 2004 1 1
[2005]103
[2008]1
C.
[2002]128 27
2008
20%
[2005]107 2005 6 13 [2005]102 50%
[2005]103
7.4.7
7.4.7.1
2008-12-31
154,049,529.25
154,049,529.25
7.4.7.2
2008 12 31
677,175,724.95 580,476,341.96 -96,699,382.99
102,762,704.66 103,675,531.00 912,826.34
48,047,850.00 48,545,000.00 497,150.00
150,810,554.66152,220,531.00 1,409,976.34
827,986,279.61732,696,872.96 -95,289,406.65
7.4.7.3
/
/
7.4.7.4
7.4.7.4.1
7.4.7.4.2
28
2008
7.4.7.5
2008 12 31
19,923.36
549.35
1,779,939.57
1,800,412.28
7.4.7.6
2008 12 31
7.4.7.7
2008 12 31
945,462.08
1,525.00
946,987.08
7.4.7.8
2008 12 31
250,000.00
90,000.00
4,182.99
344,182.99
7.4.7.9
29
2008
2008 4 30 2008 12 31
1,388,696,479.84 1,388,696,479.84
359,033,219.85359,033,219.85
-609,998,453.84 -609,998,453.84
1,137,731,245.85 1,137,731,245.85
1
2 2008 3 28 2008 4 25 1,388,444,274.71 252,205.13 1,388,696,479.84 1,388,696,479.84
3 2008 4 30 2008 12 31
7.4.7.10
-215,816,919.20-95,289,406.65 -311,106,325.85
-33,571,482.6791,903,545.01 58,332,062.34
-56,451,901.78-9,131,028.13 -65,582,929.91
22,880,419.11101,034,573.14 123,914,992.25
-249,388,401.87-3,385,861.64 -252,774,263.51
2008 4 30 2008 12 31
7.4.7.11
2008 4 30 2008 12 31
1,764,332.43
28,210.81
1,969.04
1,794,512.28
7.4.7.12
2008 4 30 2008 12 31
929,351,643.55
30
2008
-1,141,758,447.28
-212,406,803.73
7.4.7.13
2008 4 30 2008
12 31
334,948,470.99
-327,103,789.51
-6,334,213.61
1,510,467.87
7.4.7.14
7.4.7.14.1 ——
2008 4 30 2008 12 31
1,004,896.00
-735,584.98
269,311.02
7.4.7.15
2008 4 30 2008 12 31
2,948,547.54
2,948,547.54
7.4.7.16
2008 4 30 2008 12 31
1. -95,289,406.65
-96,699,382.99
1,409,976.34
2.
3.
-95,289,406.65
31
2008
7.4.7.17
2008 4 30 2008 12 31 545,011.89
62,596.22
607,608.11
7.4.7.18
2008 4 30 2008 12 31
4,901,904.37
3,275.00
4,905,179.37
7.4.7.19
2008 4 30 2008 12 31
90,000.00
270,000.00
16,850.03
6,000.00
900.00
383,750.03
7.4.8
7.4.8.1
7.4.8.2
7.4.9
32
2008
AEGON International N.V
7.4.10
7.4.10.1
7.4.10.1.1
2008 4 30 2008 12 31
1,873,065,194.01 68.51%
7.4.10.1.2
2008 4 30 2008 12 31
86,807,922.87 74.84%
7.4.10.1.3
2008 4 30 2008 12 31
100,000,000.00 17.07%
7.4.10.1.4
7.4.10.1.5
33
2008
2008 4 30 2008 12 31
1,564,808.33 68.14% 569,772.67 60.26%
7.4.10.2
7.4.10.2.1
2008 4 30 2008 12 31
10,634,566.61
9,694,559.86
940,006.75
1 1.5% = 1.5%/
2
7.4.10.2.2
2008 4 30 2008 12 31
1,772,427.72
1,615,759.92
156,667.80
1 0.25% = 0.25%/
2
7.4.10.3
2008 4 30 2008 12 31 34
2008
7.4.10.4
7.4.10.4.1
2008 4 30 2008 12 31
37,304,664.21
/
/
37,304,664.21
3.28%
1 / /
2
7.4.10.4.2
2008 4 30 2008 12 31
30,051,250.00 2.64%
7.4.10.5
2008 4 30 2008 12 31
154,049,529.25 1,764,332.43
7.4.10.6
2008 4 30 2008 12 31
35
2008
7.4.11
10
7.4.12 2008 12 31
7.4.12.1 /
7.4.12.1.1
002257
2008-6-30
21.81 21.81 43,974 959,072.94 959,072.94
7.4.12.2
7.4.12.3
7.4.13
7.4.13.1
7.4.13.2
10% 36
2008
37
10%
7.4.13.3
7.4.12
7.4.13.4
7.4.13.4.1
7.4.13.1.1
2008
38
2008 12 31
1 1-3 3 -1 1 5 5
154,049,529.25 154,049,529.25
1,132,744.62 1,132,744.62
398,503.54 398,503.54
48,545,000.00 92,363,121.22 11,312,409.78 580,476,341.96 732,696,872.96
2,878,351.84 2,878,351.84
1,800,412.28 1,800,412.28
104,776.92 104,776.92
155,287,050.79 48,545,000.00 92,363,121.22 11,312,409.78 585,553,609.62 893,061,191.41
4,606,472.77 4,606,472.77
1,109,891.68 1,109,891.68
940,006.75 940,006.75
156,667.80 156,667.80
946,987.08 946,987.08
344,182.99 344,182.99
8,104,209.07 8,104,209.07
155,287,050.79 48,545,000.00
92,363,121.22 11,312,409.78 577,449,400.55 884,956,982.34
2008
7.4.13.4.1.2
1.
2.
2008 12 31
+1% -169.87
-1% 172.13
7.4.13.4.2
7.4.13.4.3
65%-95% 0%-30% 0%-3% 0%-20% 5% 2008 12 31
7.4.13.4.3.1
2008 12 31
%
-
580,476,341.96 65.59
-
152,220,531.00 17.20 -
39
2008
732,696,872.96 82.79
7.4.13.4.3.2
CAPM
1. CAPM
2. CAPM
3 10%
2008 12 31
+10% 67,222.61
-10% -67,222.61
7.4.14
8
8.1
% 1
580,476,341.96 65.00
580,476,341.96 65.00
2
152,220,531.00 17.04
152,220,531.00 17.04
40
2008
3
4
5
155,182,273.87 17.38
6
5,182,044.58 0.58
7
893,061,191.41 100.00
8.2
%
A
B
56,929,326.39 6.43
C
334,946,239.47 37.85
C0
49,618,495.56 5.61
C1
10,956,170.17 1.24
C2
C3
8,115,000.00 0.92
C4
54,710,438.70 6.18
C5
959,072.94 0.11
C6
108,121,104.66 12.22
C7
3,947,440.18 0.45
C8
89,281,081.80 10.09
C99
9,237,435.46 1.04
D
E
F
8,626,841.30 0.97
G
8,440,500.00 0.95
H
81,863,335.81 9.25
I
80,555,626.24 9.10
J
K
9,114,472.75 1.03
L
M
580,476,341.96 65.59
41
2008
8.3
% 1 000629
9,532,004 87,503,796.72 9.89
2 600036
4,814,114 58,539,626.24 6.62
3 600600
2,167,144 43,321,208.56 4.90
4 600196
3,140,396 33,319,601.56 3.77
5 600123
2,704,834 32,214,572.94 3.64
6 600309
2,925,339 29,253,390.00 3.31
7 600000
1,508,000 19,981,000.00 2.26
8 002091
2,200,000 19,404,000.00 2.19
9 600500
2,195,900 17,106,061.00 1.93
10 000061
1,036,335 16,477,726.50 1.86
11 600693
1,503,891 13,068,812.79 1.48
12 600664
1,154,960 12,912,452.80 1.46
13 000919
2,428,521 12,458,312.73 1.41
14 000983
999,982 11,659,790.12 1.32
15 600426
1,084,184 11,503,192.24 1.30
16 600361
1,599,930 9,855,568.80 1.11
17 600085
799,947 9,847,347.57 1.11
18 002003
893,369 9,237,435.46 1.04
19 600456
806,727 9,180,553.26 1.04
20 000726
1,414,488 8,684,956.32 0.98
21 000423
638,024 8,613,324.00 0.97
22 600019
1,513,837 7,024,203.68 0.79
23 600348
700,000 6,811,000.00 0.77
24 600050
1,350,000 6,790,500.00 0.77
25 601699
499,917 6,243,963.33 0.71
26 600655
599,916 5,951,166.72 0.67
27 000895
160,000 5,516,800.00 0.62
28 000059
999,904 5,089,511.36 0.58
29 600258
523,943 4,846,472.75 0.55
30 600717
500,000 4,340,000.00 0.49
31 600350
880,000 4,268,000.00 0.48
32 600521
333,777 4,058,728.32 0.46
33 600201
689,100 3,728,031.00 0.42
34 002054
400,000 3,220,000.00 0.36
35 600005
661,950 3,164,121.00 0.36
42
2008
36 600352
495,999 3,124,793.70 0.35
37 600308
500,000 3,050,000.00 0.34
38 600004
386,786 2,726,841.30 0.31
39 600686
555,273 2,587,572.18 0.29
40 600436
136,902 2,583,340.74 0.29
41 000488
500,000 2,570,000.00 0.29
42 600963
500,000 2,495,000.00 0.28
43 600232
769,903 2,271,213.85 0.26
44 600016
500,000 2,035,000.00 0.23
45 002038
47,981 1,759,943.08 0.20
46 002194
100,000 1,650,000.00 0.19
47 600269
200,000 1,560,000.00 0.18
48 600315
50,380 1,412,151.40 0.16
49 002204
89,465 1,359,868.00 0.15
50 600529
131,000 1,248,430.00 0.14
51 000822
226,000 1,107,400.00 0.13
52 002257
43,974 959,072.94 0.11
53 600300
148,100 780,487.00 0.09
8.4
8.4.1
2%
% 1 000629 160,338,354.70 18.12
2 600036 136,338,258.56 15.41
3 600176 103,243,045.83 11.67
4 600000 94,615,983.15 10.69
5 600016 81,876,389.91 9.25
6 600019 76,252,314.33 8.62
7 600686 64,140,204.00 7.25
8 600123 55,871,003.16 6.31
9 600309 45,023,687.07 5.09
10 600600 43,178,319.56 4.88
11 600270 40,059,877.49 4.53
12 000061
34,793,457.59 3.93
13 600500 34,343,696.74 3.88
14 601898 29,826,542.37 3.37
15 601318 29,737,179.08 3.36
43
2008
16 601398 29,460,586.86 3.33
17 600050 29,354,042.00 3.32
18 600196 28,819,105.24 3.26
19 000895 26,043,192.00 2.94
20 000515 25,643,695.87 2.90
21 601628 24,527,141.30 2.77
22 600616 23,655,246.47 2.67
23 002024 22,766,936.19 2.57
24 600009 21,955,522.30 2.48
25 600015 21,720,015.51 2.45
26 600150 19,453,376.21 2.20
27 600426 18,650,305.03 2.11
28 601166 18,038,356.92 2.04
29 600798 17,807,069.42 2.01
8.4.2
2%
% 1 000629 70,572,897.20 7.97
2 600176 63,003,759.64 7.12
3 600000 57,980,833.73 6.55
4 600016 47,321,055.74 5.35
5 600019 47,153,953.61 5.33
6 601898 32,489,941.16 3.67
7 601398 28,002,094.70 3.16
8 000515 25,657,741.41 2.90
9 002024 25,403,288.78 2.87
10 600686 25,380,587.03 2.87
11 600050 25,149,846.72 2.84
12 601628 23,390,066.29 2.64
13 600270 22,512,995.68 2.54
14 600015 21,585,592.15 2.44
15 600009 21,577,834.28 2.44
16 000895 21,439,890.01 2.42
17 601318 18,520,315.04 2.09
18 601166 17,377,656.00 1.96
19 600616 17,376,272.91 1.96
20 000061
16,978,095.31 1.92
44
2008
8.4.3
1,818,934,172.23
929,351,643.55
8.5
1
2
48,545,000.00 5.49
3
4
5
6
103,675,531.00 11.72
7
8
152,220,531.00 17.20
8.6
1 0801052 0852 500,00048,545,000.00 5.49
2 110227
327,05037,175,773.50 4.20
3 125572
262,10928,467,658.49 3.22
4 125709
193,60919,645,505.23 2.22
5 125528
101,49311,312,409.78 1.28
8.7
45
2008
8.8
8.9
8.9.1
8.9.2
8.9.3
1
398,503.54
2
2,878,351.84
3
4
1,800,412.28
5
104,776.92
6
7
8
9
5,182,044.58
8.9.4
1 110227
37,175,773.50 4.20
2 110971
3,303,396.00 0.37
3 125528
11,312,409.78 1.28
4 125572
28,467,658.49 3.22
5 125709
19,645,505.23 2.22
8.9.5
46
2008
9
9.1
11,838 96,108.40
530,851,973.02 46.66% 606,879,272.83 53.34%
9.2
3,720,561.49 0.33%
10
2008 4 30 1,388,696,479.84
359,033,219.85
609,998,453.84
“-”
1,137,731,245.85
47
2008
11
11.1
11.2
1 2008 Marc van Weede Imaad Zuberi
2 2008 6 13
11.3
11.4
11.5
2008 2008 11
22
9
11.6
48
2008
11.7
2 1,873,065,194.01 68.51% 1,564,808.33 68.14%
1
1 418,768,385.06 15.32% 355,950.62 15.50%
2
1 441,982,365.97 16.17% 375,689.41 16.36% 11.8
1
2008-3-27
2
2008-4-11
3
2008-4-12
4
2008-4-14
5
2008-5-5
6
2008-5-12
7
2008-5-14
8
2008-5-24
9
2008-5-24
10
2008-5-27
49
2008
11
2008-5-28
12
2008-5-29
13
2008-5-30
14
2008-6-12
15
2008-6-24
16
2008-6-27
17
2008-6-27
18
2008-6-27
19
2008
2008-7-1
20
2008-7-9
21
2008-7-9
22
2008-7-11
23
2008-7-18
24
2008-7-19
25
2008-7-26
50
2008
26
2008-8-29
27
2008-9-2
28
2008-9-2
29
2008-9-16
30
2008-9-17
31
2008-9-26
32
2008-9-26
33
2008-10-25
34
2008-10-31
35
2008-11-15
36
2008-11-18
37
2008-11-22
38
2008-12-27
39
2008-12-30
40
2008-12-30
51
2008
12
1 2008 5 27 2005 6
17
2 2008 9 23
2008 11 17
2008 12 2
13
1
2
3
4
5
6
400-678-0099 021-38824536
2009 3 28
52
