1
2010
§1
2011 3
28
2010 1 1 12 31
§2
2.1
377016
377016
2
2007 10 22
23,583,479,226
2.2
,
MSCI AC Asia Pacific Index ex
Japan
2.3
021-38794999 010-66105799
xia.hong@jpmf-sitic
o.com
custody@icbc.com.cn
3
400-889-4888
021-38794888
95588
021-68881170 010-66105798
2.4
JF Asset Management
Limited
The Bank of New York Mellon
Company
JF
8 21
, 1
8 21
, 1
2.5
/ www.51fund.com
/
§3
3.1
3.1.1
2010 2009 2008
1,481,814,165
-785,172,105
-12,715,595,466
2,088,619,495
6,295,386,031
-15,270,565,082
0.0824 0.2251
-0.5132
14.00 58.49% -57.21%
3.1.2
2010 2009 2008
-0.3084 -0.3927
-0.6165
16,309,260,265
16,171,684,000 10,852,049,689
4
0.692 0.607 0.383
1.
2.
3.2
3.2.1
5.65% 1.07% 5.88% 0.94% -0.23% 0.13%
24.68% 0.98% 22.25% 0.94% 2.43% 0.04%
14.00% 1.27% 11.50% 1.24% 2.50% 0.03%
-22.68% 1.93% -18.04% 2.03% -4.64% -0.10%
-30.80% 1.97% -24.26% 2.07% -6.54% -0.10%
MSCI AC Asia Pacific Index
ex Japan
3.2.2
2007 10 22 2010 12 31
5
1. 2007 10 22 2007 10 22 2010 12
31
2. 60%-100% 0%-40%
3.2.3
2007 10 22 2010 12 31
1. 2007 10 22 2007 10 22 2010 12
31
6
2.
3.3
§4
4.1
4.1.1
2004 5 12
2007 10 8 “ ” 2.5
2010 12
4.1.2
2007-10-22 - 17 EMBA 1993 JF JF JF 7
2007 7
2008-3-8 -
6 17
2004 6 2007 10 2008 3
1.
2.
4.2
JF 17
JF
16
4.3
8
4.4
4.4.1
4.4.2
2009 2009
4.4.3
4.5
4.5.1
2010 , 2010 , , , QE2 , , , 2010
2010 , 9 , 11 ,
4.5.2
2010 12 31 0.692 14.00% 11.50%
4.6
2009 2010 , 2011 2011
, , , :
9
, , , 2010 841 2009 31%, 1 , , ,
, , ,
,
4.7
4.8
2010
§5
5.1
2010
10
5.2
2010
5.3
2010
§6
2010 “ ” (2011) 20628
§7
7.1
2010 12 31
2010 12 31
2009 12 31
11
646,976,9461,310,280,256
--
--
15,732,508,76714,795,112,018
15,157,345,81514,494,002,054
575,162,952 301,109,964
--
--
--
--
10,038,037 175,845,788
105,044 133,121
3,750,701 -
889,277 1,403,805
--
15,946,3863,376,717
16,410,215,158 16,286,151,705
2010 12 31
2009 12 31
--
--
--
--
5,775,589 5,025,139
45,752,54240,738,989
24,749,406 24,528,493
4,812,384 4,769,429
--
--
-19,254 -831,667
--
--
19,385,864 36,351,492
498,3623,885,830
100,954,893 114,467,705
23,583,479,22626,629,166,594
-7,274,218,961-10,457,482,594
16,309,260,265 16,171,684,000
16,410,215,158 16,286,151,705
2010 12 31 0.692 23,583,479,226 12
7.2
2010 1 1 2010 12 31
2010 1 1 2010 12 31
2009 1 1 2009 12 31
2,575,788,052 6,818,228,540
1.
4,724,2415,846,486
4,724,2415,846,486
--
--
--
--
2. ( “-”)
1,965,190,764-255,630,862
1,659,682,694-533,028,902
9,560,06826,183,462
--
--
-2,967,0674,649,039
298,915,069246,565,539
3. ( “-”)
606,805,3307,080,558,136
4. ( “-”)
-1,484,674 -14,071,879
5. ( “-”)
552,391 1,526,659
476,032,072 466,633,893
1.
280,514,911246,970,832
2.
54,544,56648,022,106
3.
--
4.
140,181,262170,985,269
5.
--
--
6.
791,333655,686
( “-” )
2,099,755,980 6,351,594,647
11,136,485 56,208,616
( “-” )
2,088,619,495 6,295,386,031
13
7.3
2010 1 1 2010 12 31
2010 1 1 2010 12 31
( ) 26,629,166,594 -10,457,482,594 16,171,684,000
( ) - 2,088,619,495 2,088,619,495
( “-” ) -3,045,687,368 1,094,644,138 -1,951,043,230
1. 616,387,420 -235,993,670 380,393,750
2. -3,662,074,788 1,330,637,808 -2,331,436,980
( “-” ) ---
( ) 23,583,479,226 -7,274,218,961 16,309,260,265
2009 1 1 2009 12 31
( ) 28,299,811,339 -17,447,761,650 10,852,049,689
( ) - 6,295,386,031 6,295,386,031
( “-” ) -1,670,644,745 694,893,025 -975,751,720
1.
2,343,092,161 -1,247,638,638 1,095,453,523
2.
-4,013,736,906 1,942,531,663 -2,071,205,243
( “-” ) ---
( ) 26,629,166,594 -10,457,482,594 16,171,684,000
7.1 7.4
—————————
—————————
————————
14
7.4
7.4.1
( “ ”) ( “ ”) [2007] 274 29,568,958,774 (2007) 136 2007
10 22 29,572,160,440 3,201,666 ( ) JF
60%-100% 0%-40% ( )
2011 3 28
7.4.2
2006 2 15 38 ( “ ”) [2010]5 XBRL 3 < > 2007 5 15
7.4.4
15
7.4.3
2010 2010
12 31 2010
7.4.4
7.4.5
7.4.5.1
7.4.5.2
7.4.5.3
7.4.6
[2002]128 [2004]78 [2008]1
(1)
(2)
(3)
7.4.7
(“ ”)
(“ ”)
(The Bank of New
York Mellon Corporation “ ”)
16
( )
J.P. Morgan Investment Management Limited
( )
J.P. Morgan 8CS Investments (GP) Limited
( )
JF
JPMorgan Chase & Co.
JPMorgan Asset Management Holdings Inc.
JPMorgan Asset Management (Asia) Inc.
7.4.8
7.4.8.1
7.4.8.2
7.4.8.2.1
2010 1 1
2010 12 31
2009 1 1
2009 12 31
280,514,911 246,970,832
36,694,622 31,987,814
: 1.8% ( ) ( )
X 1.8% /
7.4.8.2.2
17
2010 1 1
2010 12 31
2009 1 1
2009 12 31
54,544,566 48,022,106
: 0.35% ( ) ( )
X 0.35% /
7.4.8.3
7.4.8.4
7.4.8.4.1
2010 1 1
2010 12 31
2009 1 1
2009 12 31
(2007 10 22
)
--
10,399,03312,674,095
--
--
10,399,033 2,275,062
-10,399,033
- 0.04%
: 0.30%
7.4.8.4.2
7.4.8.5
2010 1 1
2010 12 31
2009 1 1
2009 12 31
18
492,174,487 3,688,492 585,345,973 5,543,039
154,802,459 1,034,747 724,934,283 299,983
7.4.8.6
7.4.8.7
7.4.9 2010 12 31
7.4.10
(1) 2010 12 31
(a)
2010 12 31 2009 12 31
2,847,239 18,428,733 37,194,407 240,740,497
(b)
2010 12 31 2009 12 31
22,233,103 143,903,582 73,545,899 476,025,237
(c)
2010 12 31 2009 12 31
19,385,864 36,351,492
(d)
19
2010 1 1
2010 12 31
2009 1 1
2009 12 31
28,102,113 19,857,124
-16,965,628 36,351,492
11,136,485 56,208,616
2010 1 1 2010 12 31
181,890,699 28,102,113
2009 1 1 2009 12 31
128,525,074 19,857,124
(2)
(a)
(b)
( )
( ) ( )
( )
2010 12 31 15,732,508,767 (2009 12 31 14,795,112,018 )
2010 (2009 )
(3)
20
§8
8.1
% 1
15,157,345,815 92.37
14,498,230,606 88.35
659,115,209 4.02
2
575,162,952 3.50
3
- -
- -
- -
4
- -
- -
- -
- -
- -
5
- -
- -
6
- -
7
646,976,946 3.94
8
30,729,445 0.19
9
16,410,215,158 100.00
8.2
5,779,831,715 35.44
2,769,191,918 16.98
2,185,755,403 13.40
1,548,911,270 9.50
945,318,372 5.80
618,107,631 3.79
550,226,087 3.37
517,160,248 3.17
21
242,843,170 1.49
15,157,345,815 92.94
ADR GDR
8.3
2,573,269,552 15.78
1,443,009,734 8.85
1,335,616,848 8.19
1,264,761,361 7.75
740,638,210 4.54
716,220,869 4.39
696,665,527 4.27
660,143,723 4.05
636,718,866 3.90
583,161,845 3.58
537,283,586 3.29
488,029,157 2.99
449,515,981 2.76
440,013,744 2.70
355,988,454 2.18
329,318,624 2.02
274,556,670 1.68
248,897,893 1.53
236,220,287 1.45
201,495,112 1.24
187,464,587 1.15
172,430,405 1.06
164,616,974 1.01
129,336,303 0.79
108,889,122 0.67
94,196,275 0.58
88,886,106 0.55
22
15,157,345,815 92.94
: MSCI
8.4
1 China Construction Bank Corp
939 HK
146,259,150 867,460,401 5.32
2 Ping An Insurance(Group)Co of China
2318HK
8,450,000 624,842,154 3.83
3 Samsung Electronics Co Ltd 005930 KS
82,507 456,914,032 2.80
4 KB Financial Group Inc - 105560 KS
1,296,667 454,001,403 2.78
5 BHP Billiton Ltd BHP AU
1,450,000 445,416,928 2.73
6 CNOOC Ltd
883 HK
26,920,000 422,405,736 2.59
7
Australia & New Zealand Banking Grp
Ltd
ANZ AU
2,550,000 404,210,134 2.48
8 Yanzhou Coal Mining Co Ltd
1171 HK
19,968,000 403,545,043 2.47
9
Infrastructure Development Finance Co
Ltd
- IDFC IN
13,500,000 365,103,830 2.24
10 Housing Development Finance Corp Ltd - HDFC IN
3,300,000 355,988,454 2.18
1. Ticker
2.
3 http://www.51fund.com
8.5
8.5.1 2% 20
23
1 BHP Billiton Ltd BHP AU 701,165,145
4.34
2 Keppel Corp Ltd KEP SP 593,248,816
3.67
3 Ping An Insurance(Group)Co of China 2318 HK 531,303,611
3.29
4 Westpac Banking Corp WBC AU 517,693,014
3.20
5 News Corp Inc NWS AU 492,829,169
3.05
6 China Construction Bank Corp 939 HK 462,300,251
2.86
7 Australia & New Zealand Banking Grp ANZ AU 443,155,042
2.74
8 Rio Tinto Ltd RIO AU 426,938,212
2.64
9 Bank of China Ltd 3988 HK 392,193,441
2.43
10 Hidili Industry Intl Development 1393 HK 356,461,010
2.20
11 Yanzhou Coal Mining Co Ltd 1171 HK 347,782,104
2.15
12 China Resources Land Ltd 1109 HK 337,035,178
2.08
13 Zijin Mining Group Co Ltd 2899 HK 331,178,577
2.05
14 Siam Cement Public Co Ltd SCC-R TB 325,354,320
2.01
15 National Australia Bank Ltd NAB AU 321,792,939
1.99
16 Macquarie Group Ltd MQG AU 303,795,114
1.88
17 Hyundai Heavy Industries Co Ltd 009540 KS 295,870,334
1.83
18 Tata Steel Ltd TATA IN 294,587,856
1.82
19 Telstra Corp Ltd TLS AU 291,952,683
1.81
20 Tata Motors Ltd TTMT IN 283,942,007
1.76
8.5.2 2% 20
1 Bank of China Ltd 3988 HK 702,700,925
4.35
2 National Australia Bank Ltd NAB AU 673,451,629
4.16
3 Commonwealth Bank of Australia CBA AU 554,873,222
3.43
4 China Shenhua Energy Co Ltd 1088 HK 542,538,480
3.35
5 BHP Billiton plc BLT LN 480,344,365
2.97
6 Tata Motors Ltd TTMT IN 414,597,423
2.56
7 China Life Insurance Co Ltd 2628 HK 408,281,197
2.52
8 Woodside Petroleum Ltd WPL AU 395,180,032
2.44
24
9 Jiangxi Copper Co Ltd 358 HK 375,428,042
2.32
10 Samsung Electronics Co Ltd 005930 KS 362,820,645
2.24
11 China Construction Bank Corp 939 HK 359,748,674
2.22
12 News Corp Inc NWS AU 358,380,241
2.22
13 Poly Hong Kong Investment Ltd 119 HK 348,602,347
2.16
14 China Yurun Food Group Ltd 1068 HK 342,263,243
2.12
15 Neptune Orient Lines Ltd NOL SP 332,688,238
2.06
16 Asciano Ltd AIO AU 318,383,772
1.97
17 Macquarie Group Ltd MQG AU 313,380,205
1.94
18 Keppel Land Ltd KPLD SP 310,985,470
1.92
19 Infosys Technologies Ltd INFO IN 307,133,289
1.90
20 Tencent Holdings Ltd 700 HK 289,650,996
1.79
8.5.3
24,059,150,382
25,652,362,271
8.6
8.7
8.8
8.9
25
8.10
% 1
iShares MSCI
Taiwan Webs
Index Units
ETF ETF
I shares
Inc.
575,162,952 3.53
8.11
8.11.1
8.11.2
8.11.3
1
-
2
10,038,037
3
3,750,701
4
105,044
5
889,277
6
15,946,386
7
-
8
-
9
30,729,445
8.11.4
8.11.5
26
8.11.6
9
9.1
( )
1,597,593
14,761.88 240,346,385 1.02% 23,343,132,841 98.98%
9.2
376,086
0.0016
§10
(2007 10 22 )
29,572,160,440
26,629,166,594
616,387,420
3,662,074,788
-
23,583,479,226
27
§11
11.1
11.2
2010 2 3
2010 6 12
11.3
11.4
11.5
180,000 28
4
11.6
11.7
Goldman Sachs
Securities Ltd
1 2,233,034,536 4.49 196,497,113 36.21 5,046,447 4.93
JP Morgan Secs Ltd 1 2,353,096,245 4.73 251,014,171 46.25 6,027,762 5.89
CIMB Securities Ltd 1 107,796,136 0.22 - - 212,694 0.21
Macquarie Securities
Ltd
1 531,825,117 1.07 - - 1,015,496 0.99
Citigroup Global
Mkts Ltd
1 3,491,559,831 7.02 - - 6,580,470 6.43
Merrill Lynch 1 3,988,256,232 8.02 - - 8,145,448 7.96
CLSA Ltd 1 5,231,637,472 10.52 30,456,002 5.61 10,501,854 10.26
Morgan Stanley Ltd 1 5,141,933,232 10.34 - - 11,048,084 10.80
Credit Suisse Ltd 1 8,049,725,515 16.19 64,736,367 11.93 16,104,423 15.74
Enam Securities Ltd 1 113,173,065 0.23 - - 255,902 0.25
Samsung Securities
Co Ltd
1 592,013,753 1.19 - - 1,277,240 1.25
UBS Securities Ltd 1 7,524,056,683 15.13 - - 13,228,552 12.93
HSBC Hongkong 1 29,633,921 0.06 - - 53,822 0.05
Deutsche Bank AG
London
1 271,491,295 0.55 - - 409,685 0.40
China Intl Capital
Corp Secs Ltd
1 2,101,410,641 4.23 - - 5,403,684 5.28
29
Sinopac Securities
Co Ltd
1 823,986,794 1.66 - - 1,698,644 1.66
Yuanta Securities
Co Ltd
1 899,895,123 1.81 - - 1,996,943 1.95
CCB International
Securities Ltd
1 93,961,967 0.19 - - 164,433 0.16
Nomura intl Ltd 1 6,141,178,47712.35 - - 13,151,48612.85
BNP Paribas 1 - - - - - -
20 49,719,666,035 100 542,703,653 100 102,323,069 100
1.
1 ,
2 ,
3 ,
4 , ,
5 , ,
2.
1
2
3. 2010 CIMB Securities Ltd Macquarie Securities Ltd Enam Securities Ltd HSBC
Hongkong Sinopac Securities Co Ltd Yuanta Securities Co Ltd CCB International Securities Ltd BNP Paribas 8
