1
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30
2009 1 21 ( ) 12 31
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4
379010
379010 2009 1 21 5
www.51fund.com
238,701,706.19
383,719,999.43
0.4202
30.85%
53.00%
329,240,911.97
0.3398
1,482,027,795.03 6
1.530
53.00%
1. 2. 3. 2009 1 21 17.96% 1.68% 19.96% 1.45% -2.00% 0.23%
7.59% 2.12% 17.49% 1.72% -9.90% 0.40%
- ---- -
- ---- -
- ---- -
53.00% 1.87% 70.47% 1.70% -17.47% 0.17%
7
2009 1 21 2009 7 20 2009 1 21 2009 1 21 2009 1 21 2009 12 31 2010 2 11 , 10 0.4 36,576,578.71
8
2004 5 12 2007 10 8 “ ” 2.5 2009 12 2004 9 15 1,669,305,034.88
2005 4 13 991,360,522.73 2005 10 11 767,620,088.15 2006 04 26 6,435,738,977.50 2006 09
20 5,480,692,618.04 2007 04 13 9,884,799,607.98 2007 10 22 29,572,160,439.53 2008 5 21 1,423,318,139.20
2009 1 21 826,057,598.05 2009 6 24 1,801,237,418.78 A 423,047,194.30 B 1,378,190,224.48
2009-1-21 - 7 2004 2007
1 2008 6
9
2008
7 2009-1-21 - 8 2002 3 2004 5 2004
5 2007 1
2007 1 2007 9 2007
9 2007 11 2008
11 2008 11 2009 10
10
,
2009
2009
2010
11
1
2
3
4
5
,
12
(2010) 20263
( ) 2009 12 31 2009 1 21 ( ) 2009 12 31 ( )
(1) (2)
(3)
13
2009 12 31 2009
1 21 ( ) 2009 12 31
·
2010 3 30
2009 12 31
2009 12 31
7.4.7.1 85,786,895.03
4,400,167.29
2,453,140.73
7.4.7.2 1,413,184,426.45
1,383,694,426.45
-
29,490,000.00
-
7.4.7.3 - 14
7.4.7.4 -
2,255,455.72
7.4.7.5 230,644.57
-
1,013,816.81
-
7.4.7.6 -
1,509,324,546.60
2009 12 31
-
-
7.4.7.3 -
-
12,337,847.66
9,427,938.96
1,921,811.46
320,301.88
-
7.4.7.7 2,693,319.62
-
-
-
-
7.4.7.8 595,531.99
27,296,751.57
-
7.4.7.9 968,883,824.64
7.4.7.10 513,143,970.39
1,482,027,795.03
1,509,324,546.60
1. 2009 12 31 1.530 968,883,824.64
2. 2009 1 21 ( ) 2009 12 31
2009 1 21 ( ) 2009 12 31
15
2009 1 21
( ) 2009 12 31
425,481,426.62
1.
1,528,437.12
7.4.7.11 1,327,806.33
200,630.79
-
-
-
2. ( -)
276,457,654.68
7.4.7.12 270,566,743.02
-
7.4.7.13 593,908.20
-
7.4.7.14 -
7.4.7.15 5,297,003.46
3. ( - ) 7.4.7.16 145,018,293.24
4. ( - )
-
5. ( - ) 7.4.7.17 2,477,041.58
41,761,427.19
1.
17,493,616.43
2.
2,915,602.69
3.
-
4.
7.4.7.18 21,007,473.28
5.
-
-
6.
7.4.7.19 344,734.79
( - )
383,719,999.43
-
( - )
383,719,999.43
2009 1 21 ( ) 2009 12 31
2009 1 21 ( ) 2009 12 31
16
( ) 826,057,598.05 - 826,057,598.05
( ) - 383,719,999.43 383,719,999.43
( - ) 142,826,226.59 129,423,970.96 272,250,197.55
1.
1,592,960,823.11 647,664,404.14 2,240,625,227.25
2.
-1,450,134,596.52 -518,240,433.18 -1,968,375,029.70
( - ) - - -
( ) 968,883,824.64 513,143,970.39 1,482,027,795.03
7.1 7.4
7.4.1
( ) ( ) [2008]1316 2008 12 22 2009 1 16 825,940,005.46 (2009) 015 2009 1 21 826,057,598.05 117,592.59
A 60%-95% 5%-40% 5% 80% 17
X 40% X 40% X 20%
2010 3 30
7.4.2
2006 2 15 38 ( ) [2010]5 XBRL
3 < > 2007 5 15 7.4.4
7.4.3
2009 1 21 ( ) 2009 12 31 2009 12 31 2009
1 21 ( ) 2009 12 31
7.4.4
7.4.4.1
7.4.4.2
7.4.4.3
(1)
( )
(2)
18
7.4.4.4
7.4.4.5
( )
(1)
(2)
(3)
7.4.4.6
7.4.4.7
19
7.4.4.8
/( )
7.4.4.9 /( )
7.4.4.11
( ) ( )
7.4.4.12
(1) (2) 20
(3)
7.4.4.13
(1)
(2)
[2007]21 < >
7.4.5
7.4.5.1
7.4.5.2
7.4.5.3
7.4.6
[2002]128 [2004]78 [2005]102 [2005]107 [2008]1
(1)
(2)
(3) 20% 50% 21
20%
(4) 0.1%
7.4.7
7.4.7.1
2009 12 31
85,786,895.03
-
-
85,786,895.03
7.4.7.2.
2009 12 31
1,238,685,043.21 1,383,694,426.45 145,009,383.24
- - -
29,481,090.00 29,490,000.00 8,910.00
29,481,090.00 29,490,000.00 8,910.00
- - -
- - -
- - -
1,268,166,133.21 1,413,184,426.45 145,018,293.24
8,910.00
7.4.7.3 /
7.4.7.4
7.4.7.5
2009 12 31
26,222.42
-
22
-
1,694.11
201,912.33
-
815.71
-
230,644.57
7.4.7.6
7.4.7.7
2009 12 31
2,693,319.62
-
2,693,319.62
7.4.7.8
2009 12 31
250,000.00
35,531.99
310,000.00
595,531.99
7.4.7.9.
2009 1 21 ( )
2009 12 31
( )
826,057,598.05 826,057,598.05
1,592,960,823.11 1,592,960,823.11
( - ) -1,450,134,596.52 -1,450,134,596.52
968,883,824.64 968,883,824.64
1.
2. 2008 12 22 2009 1 16 23
825,940,005.46 117,592.59 117,592.59
3. 2009
1 21 ( ) 2009 2 22 2009 2 23 2009 4 20
7.4.7.10
- - -
238,701,706.19 145,018,293.24 383,719,999.43
90,539,205.78 38,884,765.18 129,423,970.96
427,988,500.04 219,675,904.10 647,664,404.14
-337,449,294.26 -180,791,138.92 -518,240,433.18
- - -
329,240,911.97 183,903,058.42 513,143,970.39
7.4.7.11
2009 1 21 ( )
2009 12 31
1,246,666.65
-
-
73,409.67
7,730.01
1,327,806.33
7.4.7.12
2009 1 21 ( )
2009 12 31
6,570,968,484.59
6,300,401,741.57
270,566,743.02
7.4.7.13
24
2009 1 21 ( )
2009 12 31
2,215,470.50
1,620,000.00
1,562.30
593,908.20
7.4.7.14
7.4.7.15
2009 1 21 ( )
2009 12 31
5,297,003.46
-
5,297,003.46
7.4.7.16
2009 1 21 ( )
2009 12 31
1.
145,018,293.24
—— 145,009,383.24
—— 8,910.00
—— -
—— -
2.
-
—— -
3.
-
145,018,293.24
7.4.7.17
2009 1 21 ( )
2009 12 31
25
2,460,520.43
16,521.15
2,477,041.58
25%
7.4.7.18
2009 1 21 ( )
2009 12 31
21,007,248.28
225.00
21,007,473.28
7.4.7.19
2009 1 21 ( )
2009 12 31
100,000.00
210,000.00
10,500.00
23,334.79
900.00
344,734.79
7.4.8
7.4.8.1
7.4.8.2
7.4.9
( )
( )
( )
26
J.P. Morgan Investment Management Limited ( )
J.P. Morgan Asset Management
(London) Limited
( )
J.P. Morgan 8CS Investments (GP) Limited
(2009 10 27 J.P.Morgan Asset
Management Real Estate Advisers Limited)
( )
7.4.10
7.4.10.1
7.4.10.2
7.4.10.2.1
2009 1 21 ( )
2009 12 31
17,493,616.43
1,997,285.94
1.5%
X 1.5% /
7.4.10.2.2
2009 1 21 ( )
2009 12 31
2,915,602.69
0.25%
X 0.25% /
7.4.10.3 ( )
27
7.4.10.4
7.4.10.4.1
2009 1 21 ( )
2009 12 31
(2009 1 21 ) -
-
7,799,531.98
-
7,799,531.98
-
-
1,000.00 0.50%
7.4.10.4.2
7.4.10.5
2009 1 21 ( )
2009 12 31
85,786,895.03 1,246,666.65
7.4.10.6
7.4.10.7
7.4.11
28
( 7.4.8.2)
7.4.12 (2009 12 31 )
7.4.12.1 /
7.4.12.1.1
( )
300027
09/10/19 10/02/01
28.58 55.43 19,809566,141.221,098,012.87 -
7.4.12.2
( )
000623
09/12/28
49.19 10/01/11 54.11 759,91132,213,623.4237,380,022.09 -
2009 12 31
7.4.12.3
7.4.13
7.4.13.1
29
7.4.13.2
2009 12 31
7.4.13.3
30
7.4.13.4
7.4.13.4.1
7.4.13.4.1.1
2009 12 31 3 3 1 1 5 5
85,786,895.03 - - - - 85,786,895.03
4,400,167.29 - - - - 4,400,167.29
- - - - 2,453,140.73 2,453,140.73
- 29,490,000.00 - - 1,383,694,426.45 1,413,184,426.45
- - - - 2,255,455.72 2,255,455.72
- - - - 230,644.57 230,644.57
42,597.45 - - - 971,219.36 1,013,816.81
90,229,659.77 29,490,000.00 - - 1,389,604,886.83 1,509,324,546.60
31
- - - - 12,337,847.66 12,337,847.66
- - - - 9,427,938.96 9,427,938.96
- - - - 1,921,811.46 1,921,811.46
- - - - 320,301.88 320,301.88
- - - - 2,693,319.62 2,693,319.62
- - - - 595,531.99 595,531.99
- - - - 27,296,751.57 27,296,751.57
90,229,659.77 29,490,000.00 - - 1,362,308,135.26 1,482,027,795.03
7.4.13.4.1.2
2009 12 31 1.99%
7.4.13.4.2
7.4.13.4.3
60%-95% 5%-40% VaR(Value at Risk)
7.4.13.4.3.1
2009 12 31
(%)
32
1,383,694,426.45 93.36
- -
- -
1,383,694,426.45 93.36
7.4.13.4.3.2
X 50%+ X 50%
( )
2009 12 31
1. X 50%+ X 50% 5% 6,721
2. X50%+ X 50% 5% 6,721
7.4.14
1,383,694,426.45 91.68
1,383,694,426.45 91.68
29,490,000.00 1.95
29,490,000.00 1.95
--
--
--
--
90,187,062.32 5.98
5,953,057.83 0.39
1,509,324,546.60 100.00
33
41,667,330.23 2.81
114,058,262.60 7.70
733,654,032.08 49.50
164,736,055.69 11.12
--
--
19,249,768.32 1.30
91,488,887.55 6.17
19,353,219.38 1.31
171,739,304.32 11.59
154,443,956.15 10.42
112,642,840.67 7.60
--
--
10,965,732.87 0.74
--
30,801,938.47 2.08
119,020,750.57 8.03
223,390,648.10 15.07
41,135,048.20 2.78
11,565,000.00 0.78
1,098,012.87 0.07
56,337,670.46 3.80
1,383,694,426.45 93.36
601166 2,446,153 98,604,427.43 6.65
601169 3,239,895 62,659,569.30 4.23
000937 1,358,913 56,530,780.80 3.81
002038 1,096,035 48,663,954.00 3.28
600537 1,780,894 46,908,747.96 3.17
000568 1,189,960 46,456,038.40 3.13
600231 3,535,446 46,031,506.92 3.11
600315 1,379,900 45,398,710.00 3.06
000759 3,381,119 44,461,714.85 3.00
000918 2,562,864 41,133,967.20 2.78
000623 759,911 37,380,022.09 2.52
600178 2,101,700 35,329,577.00 2.38 34
002024 1,680,100 34,912,478.00 2.36
000527 1,469,832 34,100,102.40 2.30
000800 1,220,006 31,744,556.12 2.14
600581 1,919,937 30,718,992.00 2.07
000858 960,000 30,393,600.00 2.05
000584 2,579,955 29,127,691.95 1.97
600354 1,559,769 28,309,807.35 1.91
000878 899,940 27,547,163.40 1.86
002068 1,526,285 27,396,815.75 1.85
600223 2,189,057 27,209,978.51 1.84
601009 1,390,000 26,896,500.00 1.81
600837 1,380,000 26,482,200.00 1.79
600031 710,099 26,138,744.19 1.76
000729 1,369,904 25,713,098.08 1.74
000417 1,700,066 24,939,968.22 1.68
600516 2,400,200 24,506,042.00 1.65
000983 570,020 22,738,097.80 1.53
002063 899,987 20,492,703.99 1.38
600660 1,340,000 20,019,600.00 1.35
000651 680,000 19,679,200.00 1.33
002228 1,221,432 19,249,768.32 1.30
002064 979,733 18,693,305.64 1.26
600508 670,000 16,850,500.00 1.14
600518 1,370,506 14,568,478.78 0.98
002121 599,951 12,227,001.38 0.83
600737 699,975 11,724,581.25 0.79
600258 500,000 11,565,000.00 0.78
002233 700,000 11,501,000.00 0.78
000933 300,000 11,064,000.00 0.75
002310 97,921 10,857,480.48 0.73
000686 221,495 8,498,763.15 0.57
002066 410,000 7,917,100.00 0.53
002197 299,991 7,451,776.44 0.50
002156 599,850 7,126,218.00 0.48
600497 259,920 6,874,884.00 0.46
000919 559,889 6,830,645.80 0.46
600729 160,000 6,424,000.00 0.43
600845 199,958 6,310,674.48 0.43
600865 600,000 6,120,000.00 0.41
002200 200,000 5,738,000.00 0.39
600521 199,990 5,199,740.00 0.35 35
600965 600,000 4,212,000.00 0.28
002261 99,964 3,998,560.00 0.27
600365 300,000 3,537,000.00 0.24
002271 70,000 3,497,900.00 0.24
600975 299,958 3,407,522.88 0.23
600693 185,630 2,162,589.50 0.15
300027 19,809 1,098,012.87 0.07
000783 12,918 249,188.22 0.02
600266 6,051 108,252.39 0.01
600298 100 2,990.00 0.00
000002 100 1,081.00 0.00
600160 6 56.16 0.00
1 600015 200,666,763.00 13.54 2 600030 182,847,342.37 12.34 3 600016 147,074,460.22 9.92 4 601169 133,365,766.00 9.00 5 600031 126,947,447.83 8.57 6 600518 122,585,000.76 8.27 7 000686 122,085,423.13 8.24 8 000937 114,687,256.23 7.74 9 601166 112,378,656.54 7.58 10 601009 105,139,563.55 7.09 11 600000 103,692,016.32 7.00 12 600036 101,651,652.39 6.86 13 601318 94,877,680.40 6.40 14 600997 90,321,815.71 6.09 15 000402
89,348,513.58 6.03 16 000783 87,655,316.56 5.91 17 000983 85,998,800.67 5.80 18 000001 83,500,078.68 5.63 19 000009 79,585,710.46 5.37 20 000568 78,076,990.53 5.27 21 000968
76,640,626.20 5.17 22 600050 76,155,036.09 5.14 23 000623 72,550,818.61 4.90 24 600048 72,418,896.25 4.89 36
25 600497 71,735,727.51 4.84 26 600089 71,417,943.34 4.82 27 000878 69,508,453.42 4.69 28 600028 68,919,126.32 4.65 29 000562 66,217,456.49 4.47 30 600881 62,441,064.40 4.21 31 600549 62,348,598.55 4.21 32 000858
61,874,870.34 4.18 33 600266 61,668,050.56 4.16 34 000425 59,866,733.89 4.04 35 002024 59,713,916.42 4.03 36 600153 58,853,591.66 3.97 37 600255 56,538,348.61 3.81 38 000667 55,844,153.89 3.77 39 600432 54,919,698.19 3.71 40 600231 54,346,847.93 3.67 41 000918 53,865,230.18 3.63 42 000677 53,727,086.92 3.63 43 002038 53,693,948.85 3.62 44 600408 53,164,178.56 3.59 45 600739 52,417,451.27 3.54 46 000800 51,692,253.73 3.49 47 601958 51,049,687.97 3.44 48 000527 49,901,194.01 3.37 49 600067 49,109,453.35 3.31 50 600519 48,553,204.66 3.28 51 002068 48,258,412.09 3.26 52 000002
47,848,310.60 3.23 53 600675 47,559,103.02 3.21 54 000933 44,504,882.80 3.00 55 000778 43,503,055.45 2.94 56 600038 42,609,611.71 2.88 57 600481 41,978,286.10 2.83 58 600527 41,453,886.38 2.80 59 600315 41,248,976.33 2.78 60 000729 40,724,697.60 2.75 61 000046 40,480,952.88 2.73 62 601628 39,838,828.91 2.69 63 600537 39,720,284.81 2.68 64 600837 39,474,008.67 2.66 65 000898 38,043,204.39 2.57 37
66 000759 37,276,636.52 2.52 67 600348 36,886,885.13 2.49 68 002064 36,553,704.76 2.47 69 600307 36,347,059.09 2.45 70 600223 ST 35,709,956.51 2.41 71 600741 35,651,023.00 2.41 72 600966 35,620,598.76 2.40 73 600738 34,521,836.04 2.33 74 000822 34,342,972.29 2.32 75 600052 33,772,462.78 2.28 76 600007 33,482,431.67 2.26 77 600720 32,186,289.17 2.17 78 600655 31,746,316.22 2.14 79 000935 ST 31,585,039.86 2.13 80 002228 31,507,428.90 2.13 81 600479 31,236,744.75 2.11 82 000400 31,135,205.01 2.10 83 600354 30,582,615.22 2.06 84 601919 30,468,222.57 2.06 85 600160 29,920,509.25 2.02 86 000024 29,766,237.35 2.01 1 600015 199,016,383.82 13.43
2 600030 184,128,812.02 12.42
3 600016 151,390,595.63 10.22
4 600518 129,209,072.80 8.72
5 600036 111,351,940.44 7.51
6 601318 111,172,173.25 7.50
7 600031 102,825,082.90 6.94
8 600000 102,737,515.95 6.93
9 000686 101,503,338.45 6.85
10 600997 99,502,212.52 6.71
11 000001 93,333,922.40 6.30
12 000009 89,400,259.03 6.03
13 000968
87,870,535.16 5.93
14 601169 84,492,259.48 5.70
15 000402
83,488,934.92 5.63
16 600266 80,661,369.86 5.44 38
17 600048 77,276,563.17 5.21
18 601009 76,357,223.19 5.15
19 600050 76,196,018.13 5.14
20 600089 75,914,035.95 5.12
21 000425 73,399,511.96 4.95
22 000783 72,448,609.26 4.89
23 000562 69,469,179.45 4.69
24 600028 68,956,963.41 4.65
25 000983 65,629,091.91 4.43
26 000937 65,110,955.06 4.39
27 600497 62,833,184.20 4.24
28 600881 62,739,077.42 4.23
29 600549 59,866,968.56 4.04
30 000002
59,708,264.98 4.03
31 601958 57,099,083.41 3.85
32 600255 56,446,708.94 3.81
33 000667 55,961,619.04 3.78
34 600739 54,275,002.45 3.66
35 600432 53,576,754.36 3.62
36 600153 51,947,647.14 3.51
37 000677 50,428,910.42 3.40
38 000046 50,344,316.10 3.40
39 600067 47,857,127.24 3.23
40 600307 46,412,392.81 3.13
41 600519 45,618,266.94 3.08
42 000778 44,402,200.13 3.00
43 600052 43,069,593.41 2.91
44 000623 41,801,515.67 2.82
45 000527 41,465,975.87 2.80
46 600348 40,857,239.51 2.76
47 600038 40,792,757.90 2.75
48 600408 39,440,692.71 2.66
49 600675 39,402,002.24 2.66
50 600527 38,539,707.81 2.60
51 600655 36,949,699.56 2.49
52 600479 36,946,726.34 2.49
53 601628 36,630,788.58 2.47
54 600622 36,567,362.87 2.47
55 000858
36,078,878.37 2.43
56 000898 35,978,236.11 2.43
57 600966 35,928,398.15 2.42 39
58 600741 35,711,023.09 2.41
59 000400 35,206,993.02 2.38
60 000568 35,047,164.35 2.36
61 600720 34,399,767.33 2.32
62 600481 34,280,590.14 2.31
63 600007 34,267,349.09 2.31
64 600738 33,996,250.05 2.29
65 002024 33,707,419.56 2.27
66 000935 ST 33,565,875.51 2.26
67 000933 32,774,098.24 2.21
68 000539 32,025,617.40 2.16
69 000878 31,542,639.94 2.13
70 000792 31,414,047.15 2.12
71 600475 31,376,233.85 2.12
72 600160 31,280,418.88 2.11
73 601919 31,058,259.74 2.10
74 601166 30,843,374.14 2.08
75 000718 30,772,501.45 2.08
76 600064 29,911,233.61 2.02
77 600880 29,904,358.87 2.02
78 000069 29,843,965.80 2.01
79 600104 29,727,468.85 2.01
80 000024 29,681,205.01 2.00
7,539,086,784.78
6,570,968,484.59
--
29,490,000.00 1.99
--
--
--
--
--
--
29,490,000.00 1.99 40
2,453,140.73
2,255,455.72
-
230,644.57
1,013,816.81
-
-
-
5,953,057.83
41
55,938 17,320.67 42,312,551.12 4.37% 926,571,273.52 95.63%
355,493.77 0.0367%
826,057,598.05
1,592,960,823.11
1,450,134,596.52
-
968,883,824.64
2009 2 28
42
2009 5 20
2009 10 31
7,217,428,286.21 51.17% 6,134,782.90
52.06%
3,349,378,795.72 23.75% 2,721,398.16
23.09%
1,468,640,632.70 10.41% 1,248,336.88
10.59%
2,068,350,917.04 14.67% 1,680,557.87
14.26%
14,103,798,631.67 100.00% 11,785,075.81
100.00%
43
2,215,470.50 100.00% - - - - 0.00 0.00% - - - - 0.00 0.00% - - - - 0.00 0.00% - - - - 2,215,470.50 100.00% - - - - 2009 1 21
1.
2009 1 9
2.
2009 1 22
3.
2009 2 6
4.
2009 2 20
5.
2009 2 28
6.
2009 4 9
7.
2009 4 16 44
8.
9.
2009 5 20
10.
2009 9 23
11.
2009 10 31
1.
2.
3.
4.
5.
6.
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