2010
2010 12 31
1
2011 3 28
2010 1 1 12 31
2
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4
021-38794999 010-66105799 xia.hong@jpmf-sitico.com custody@icbc.com.cn
400-889-4888 95588
021-68881170 010-66105798
5
99 20 55 99 20 55 200120 100140
http://www.51fund.com
202 2 11
99 20
2010
2009 6 24 2009 12 31
3.1.1
7,389,796.24 8,208,345.46 2,506,602.01 3,713,218.49
5,284,552.477,309,317.333,621,748.725,772,379.41
0.0257 0.0265 0.0104 0.0069
2.50% 2.59% 1.04% 0.69%
2.37% 1.98% 1.20% 0.90%
2010 2009
3.1.2
3,629,756.33 3,588,612.67 1,737,984.67 2,408,224.28
0.0363 0.0292 0.0077 0.0056
103,596,722.76 126,494,609.19 226,996,378.46 432,670,710.88
1.036 1.029 1.012 1.009
6
2010 2009
3.1.3
A B A B
3.60% 2.90% 1.20% 0.90%
1.
2.
3.2.1 A
-0.29% 0.09% -2.98% 0.15% 2.69% -0.06%
0.78% 0.07% -2.83% 0.12% 3.61% -0.05%
2.37% 0.06% -0.87% 0.10% 3.24% -0.04%
------
------
3.60% 0.05% -2.44% 0.09% 6.04% -0.04%
B
-0.48% 0.09% -2.98% 0.15% 2.50% -0.06%
0.49% 0.08% -2.83% 0.12% 3.32% -0.04%
1.98% 0.06% -0.87% 0.10% 2.85% -0.04%
------
------
2.90% 0.05% -2.44% 0.09% 5.34% -0.04%
3.2.2
2009 6 24 2010 12 31
7
A
B
1 2009 6 24 2009 6 24 2010 12
31
2 2009 6 24 2009 12 23
3.2.3
8
A
B
1 2009 2009 6 24 2009 12 31
2
9
4.1.1
2004 5 12 2007 10 8 “ ” 2.5 2010 12
4.1.2
2009-6-24 - 8
2003 2007 2007 4 2008 6 2008 11
2010-2-9 - 3
2007 2010 2007 2
1.
2.
10
4.3.1
,
4.3.2
2009 2009
4.3.3
4.4.1 2010 GDP 11.9% 10.3% 9.6% 9.8% 10.3% GDP
2010 CPI 1.5% 5% 5 2.06% 1.94% 3.5% 3.66% 3.28% 3.88%
11
4.4.2 2010 12 31 A 1.036 2.37% B 1.029 1.98% -0.87%
2011 2011
1
2
3
4
,
12
2010
2010
2010
2010
(2011) 20631
13
( ) 2010 12 31 2010 ( )
(1)
(2)
(3)
2010 12 31 2010
·
2011 3 28
14
2010 12 31
2010 12 31
2009 12 31
40,667,868.60 13,473,238.92
109,345.40 17,654,749.73
250,000.00 250,000.00
217,820,918.40 570,894,750.44
--
--
217,820,918.40 570,894,750.44
--
--
- 20,000,000.00
331,959.20 35,993,861.16
2,867,472.11 5,314,583.42
--
1,517,370.94 661,488.81
--
--
263,564,934.65 664,242,672.48
2010 12 31
2009 12 31
--
--
--
--
20,793,761.02 -
11,261,401.59 3,313,234.02
118,365.57 371,548.96
39,455.19 123,849.64
34,764.19 140,587.92
53,842.48 52,861.23
613,825.00 2,000.00
--
--
--
558,187.66 571,501.37
33,473,602.70 4,575,583.14
222,872,962.95 653,017,447.54
15
7,218,369.00 6,649,641.80
230,091,331.95 659,667,089.34
263,564,934.65 664,242,672.48
2010 12 31 222,872,962.95 A 99,966,966.43 B 122,905,996.52 A 1.036 B 1.029
2010 1 1 2010 12 31
2010 1 1 2010 12 31
2009 6 24 2009 12 31
18,289,517.45 16,356,994.30
14,604,444.33 10,701,004.97
250,283.04 780,904.71
14,175,699.15 5,115,338.25
--
178,462.14 4,804,762.01
--
6,139,136.98 2,307,885.36
-59,360.94 -
--
6,198,497.92 1,446,944.36
--
- 860,941.00
--
-3,004,271.90 3,174,307.63
--
550,208.04 173,796.34
5,695,647.65 6,962,866.17
2,992,787.92 3,700,109.28
997,595.97 1,233,369.75
996,478.25 1,521,531.18
219,983.82 111,233.12
163,797.89 61,890.71
163,797.89 61,890.71
325,003.80 334,732.13
12,593,869.80 9,394,128.13
--
12,593,869.80 9,394,128.13
16
2010 1 1 2010 12 31
2010 1 1 2010 12 31 653,017,447.54 6,649,641.80 659,667,089.34
- 12,593,869.80 12,593,869.80
-430,144,484.59 -12,025,142.60 -442,169,627.19
2,208,251,041.24 63,195,943.80 2,271,446,985.04
-2,638,395,525.83 -75,221,086.40 -2,713,616,612.23
-- -
222,872,962.95 7,218,369.00 230,091,331.95
2009 6 24 2009 12 31 1,801,237,418.78 - 1,801,237,418.78
- 9,394,128.13 9,394,128.13
-1,148,219,971.24 -2,744,486.33 -1,150,964,457.57
641,062,501.94 2,330,273.19 643,392,775.13
-1,789,282,473.18 -5,074,759.52 -1,794,357,232.70
-- -
653,017,447.54 6,649,641.80 659,667,089.34
7.1 7.4
7.4.1
( ) ( ) [2009]361
17
2009 5 25 2009 6 19 1,800,918,562.24 (2009) 115 2009 6 24 1,801,237,418.78 318,856.54
A B A B
( ) 80% 5%
2011 3 28
7.4.2
2006 2 15 38 ( ) [2010]5 XBRL
3 < > 2007 5 15 7.4.4
7.4.3
2010 2010 12 31 2010
7.4.4
7.4.4.1
1 1 12 31 2009
6 24 ( ) 2009 12 31
7.4.4.2
18
7.4.4.3
(1)
( )
(2)
7.4.4.4
7.4.4.5
( )
(1)
(2)
19
(3)
7.4.4.6
7.4.4.7
7.4.4.8
/( )
7.4.4.9 /( )
7.4.4.10
20
7.4.4.11
( ) ( )
7.4.4.12
(1) (2) (3)
7.4.4.13
(1)
[2007]21 < >
7.4.5
7.4.5.1
7.4.5.2
7.4.5.3
7.4.6
21
[2002]128 [2004]78 [2005]102 [2008]1
(1)
(2)
(3) 20%
(4) 0.1%
7.4.7
7.4.7.1
2010 12 31
2009 12 31 40,667,868.60 13,473,238.92
--
--
40,667,868.60 13,473,238.92
7.4.7.2
-- -
108,437,504.94
109,222,918.40
785,413.46
109,213,377.73
108,598,000.00
-615,377.73 217,650,882.67 217,820,918.40 170,035.73
-- -
-- -
-- -
217,650,882.67 217,820,918.40 170,035.73
2009 12 31
-- -
158,455,830.48 161,700,750.44 3,244,919.96
409,264,612.33 409,194,000.00 -70,612.33 567,720,442.81 570,894,750.44 3,174,307.63
22
-- -
-- -
-- -
567,720,442.81 570,894,750.44 3,174,307.63
7.4.7.3 /
7.4.7.4
7.4.7.4.1
7.4.7.4.2
7.4.7.5
2010 12 31
2009 12 31
1,863.48 4,349.03
- -
- -
179.99 6,797.12
2,865,426.25 5,300,255.97
- 2,795.86
2.39 385.44
- -
2,867,472.11 5,314,583.42
7.4.7.6
7.4.7.7
2010 12 31
2009 12 31
23
50,411.48 50,411.48
3,431.00 2,449.75
53,842.48 52,861.23
7.4.7.8
2010 12 31
2009 12 31
250,000.00 250,000.00
8,187.66 1,501.37
300,000.00 320,000.00
558,187.66 571,501.37
7.4.7.9
A
2010 1 1 2010 12 31
224,397,242.07224,397,242.07
1,359,827,761.881,359,827,761.88
-1,484,258,037.52 -1,484,258,037.52
99,966,966.4399,966,966.43
B
2010 1 1 2010 12 31
428,620,205.47428,620,205.47
848,423,279.36848,423,279.36
-1,154,137,488.31 -1,154,137,488.31
122,905,996.52122,905,996.52
7.4.7.10
A
1,737,984.67861,151.722,599,136.39
7,389,796.24-2,105,243.775,284,552.47
-4,942,436.99 688,504.46 -4,253,932.53
32,163,547.70 9,153,886.32 41,317,434.02
24
-37,105,984.69-8,465,381.86-45,571,366.55
--0 . 0 0
4,185,343.92-555,587.593,629,756.33
B
2,408,224.281,642,281.134,050,505.41
8,208,345.46-899,028.137,309,317.33
-6,359,845.36 -1,411,364.71 -7,771,210.07
16,777,463.48 5,101,046.30 21,878,509.78
-23,137,308.84-6,512,411.01-29,649,719.85
--0 . 0 0
4,256,724.38-668,111.713,588,612.67
7.4.7.11
2010 1 1 2010 12 31
2009 6 24 2009 12 31
227,120.45 631,670.37
--
--
16,290.88 147,354.01
6,871.71 1,880.33
250,283.04 780,904.71
7.4.7.12
2010 1 1 2010 12 31
2009 6 24 2009 12 31
5,129,916.19 -
5,189,277.13 -
-59,360.94 -
7.4.7.13
2010 1 1 2010 12 31
2009 6 24 2009 12 31
832,549,706.89 612,576,960.38
811,918,949.29 595,354,684.71
25
14,432,259.68 15,775,331.31
6,198,497.92 1,446,944.36
7.4.7.14
2010 1 1 2010 12 31
2009 6 24 2009 12 31
- 2,478,034.82
- 1,617,093.82
- 860,941.00
7.4.7.15
7.4.7.16
2010 1 1 2010 12 31
2009 6 24 2009 12 31
-3,004,271.90 3,174,307.63
--
-3,004,271.90 3,174,307.63
--
--
--
--
--
-3,004,271.90 3,174,307.63
7.4.7.17
2010 1 1 2010 12 31
2009 6 24 2009 12 31
489,620.78 120,721.72
40,587.26 33,074.62
20,000.00 20,000.00
550,208.04 173,796.34
1. 25%
2. 25%
7.4.7.18
26
2010 1 1 2010 12 31
2009 6 24 2009 12 31
212,408.82 106,083.12
7,575.00 5,150.00
219,983.82 111,233.12
7.4.7.19
2010 1 1 2010 12 31
2009 6 24 2009 12 31
60,000.00 80,000.00
240,000.00 240,000.00
18,000.00 4,500.00
7,003.80 9,332.13
-9 0 0 . 0 0
325,003.80 334,732.13
7.4.8
7.4.8.1
7.4.8.2
7.4.9
( ) ( ) ( ) J.P. Morgan Investment Management Limited ( ) J.P. Morgan 8CS Investments (GP) Limited ( )
27
7.4.10
7.4.10.1
7.4.10.2
7.4.10.2.1
2010 1 1 2010 12 31
2009 6 24 2009 12 31
2,992,787.92 3,700,109.28
647,288.83 860,385.48
0.6%
X 0.6% /
7.4.10.2.2
2010 1 1 2010 12 31
2009 6 24 2009 12 31
997,595.97 1,233,369.75
0.2%
X 0.2% /
7.4.10.2.3
2010 1 1 2010 12 31
A B
- 289,274.42 289,274.42
- 300,443.08 300,443.08
- 589,717.50589,717.50
2009 6 24 2009 12 31
A B
- 427,965.04 427,965.04
- 442,389.07 442,389.07
- 870,354.11 870,354.11
28
1. B
2. B 0.35%
B X 0.35% /
7.4.10.3 ( )
10,117,520.00 - - - - -
2009 6 24 2009 12 31 30,634,134.66 - - - - -
7.4.10.4
7.4.10.5
2010 1 1 2010 12 31
2009 6 24 2009 12 31
7.4.10.6
7.4.10.7
7.4.11
7.4.12 2010 12 31
29
7.4.13
7.4.13.1
7.4.13.2
30
7.4.13.2.1
2010 12 31
2009 12 31
49,918,000.00 50,201,000.00
39,138,000.00 176,900,000.00
89,056,000.00 227,101,000.00
7.4.13.2.2
2010 12 31
2009 12 31
11,535,300.00 1,353.33
46,550,738.40 88,182,023.82
10,136,880.00 66,223,995.89
- 7,293,377.40
60,542,000.00 182,093,000.00
128,764,918.40 343,793,750.44
7.4.13.3
10% 10%
( )
31
7.4.13.4
7.4.13.4.1
7.4.13.4.1.1
3 -1 1-5 5
40,667,868.60 - - - - 40,667,868.60
109,345.40 - - - - 109,345.40
- - - -250,000.00 250,000.00
39,138,000.00 49,918,000.00 29,899,600.00 98,865,318.40 - 217,820,918.40
- - - -331,959.20 331,959.20
- - - -2,867,472.11 2,867,472.11
198.81 - - -1,517,172.13 1,517,370.94
79,915,412.81 49,918,000.00 29,899,600.00 98,865,318.40 4,966,603.44 263,564,934.65
- - - -11,261,401.59 11,261,401.59
- - - -118,365.57 118,365.57
- - - -39,455.19 39,455.19
- - - -34,764.19 34,764.19
- - - -53,842.48 53,842.48
- - - -613,825.00 613,825.00
- - - -20,793,761.02 20,793,761.02
- - - -558,187.66 558,187.66
- - - -33,473,602.70 33,473,602.70
79,915,412.81 49,918,000.00 29,899,600.00 98,865,318.40 -28,506,999.26 230,091,331.95
3 -1 1-5 5
32
13,473,238.92 - - - - 13,473,238.92
17,654,749.73 - - - - 17,654,749.73
- - - -250,000.00 250,000.00
- 357,989,000.00 131,289,634.55 81,616,115.89 - 570,894,750.44
- - - -35,993,861.16 35,993,861.16
- - - -5,314,583.42 5,314,583.42
60,000.00 - - -601,488.81 661,488.81
- - - -20,000,000.00 20,000,000.00
31,187,988.65 357,989,000.00 131,289,634.55 81,616,115.89 62,159,933.39 664,242,672.48
- - - -3,313,234.02 3,313,234.02
- - - -371,548.96 371,548.96
- - - -123,849.64 123,849.64
- - - -140,587.92 140,587.92
- - - -52,861.23 52,861.23
- - - - 2,000.00 2,000.00
- - - -571,501.37 571,501.37
- - - -4,575,583.14 4,575,583.14
31,187,988.65 357,989,000.00 131,289,634.55 81,616,115.89 57,584,350.25 659,667,089.34
7.4.13.4.1.2
2010 12 31
2009 12 31 211 273
207 269
7.4.13.4.2
7.4.13.4.3
33
7.4.14
(1)
(a)
(b)
( )
( ) ( )
( )
2010 12 31 109,222,918.40 108,598,000.00 (2009
12 31 161,700,750.44 409,194,000.00 )
2010 (2009 )
(2)
1 --
--
2 217,820,918.40 82.64
217,820,918.40 82.64
--
3 --
4 --
--
5 40,777,214.00 15.47
6 4,966,802.25 1.88
7 263,564,934.65 100.00
2010 12 31 230,091,331.95
A 1.036 1.036 B 1.029 1.029
34
8.4.1 2% 20
1 3,780,272.64 0.57
2 1,394,147.20 0.21
3 14,857.29 0.00
4 --
5 --
6 --
7 --
8 --
9 --
10 --
11 --
12 --
13 --
14 --
15 --
16 --
17 --
18 --
19 --
20 --
8.4.2 2% 20
1 3,677,711.69 0.56
2 1,437,942.40 0.22
35
3 14,262.10 0.00
4 - -
5 - -
6 - -
7 - -
8 - -
9 - -
10 - -
11 - -
12 - -
13 - -
14 - -
15 - -
16 - -
17 - -
18 - -
19 - -
20 - -
8.4.3
5,189,277.13
5,129,916.19
1 41,000,000.00 17.82
2 58,680,000.00 25.50
3 - -
- -
4 56,687,618.40 24.64
5 49,918,000.00 21.69
6 11,535,300.00 5.01
7 - -
8 217,820,918.40 94.67
36
1 400,000 41,000,000.00 17.82
2 200,000 19,576,000.00 8.51
3 200,000 19,562,000.00 8.50
4 200,000 19,542,000.00 8.49
5 105,000 11,535,300.00 5.01
8.9.1
8.9.2
8.9.3
1 250,000.00
2 331,959.20
3 -
4 2,867,472.11
5 1,517,370.94
6 -
7 -
8 -
9 4,966,802.25
8.9.4
1 11,535,300.00 5.01
37
8.9.5
8.9.6
2,504 39,922.91 20,024,489.55 20.03% 79,942,476.88 79.97%
3,030 40,563.04 17,265,345.23 14.05% 105,640,651.29 85.95%
5,534 40,273.39 37,289,834.78 16.73% 185,583,128.17 83.27%
A - -
B 307,507.37 0.2502%
307,507.37 0.1380%
A B
224,397,242.07 428,620,205.47
1,359,827,761.88 848,423,279.36
1,484,258,037.52 1,154,137,488.31
--
99,966,966.43 122,905,996.52
38
2010 2 3
2010 6 12
60,000 2
11.7.1
1 3,691,973.79 71.97% 100,000 50.00% 1 1,437,942.40 28.03% 100,000 50.00%
1 10
39
2.
1 ,
2 ,
3 ,
4 , ,
5 , ,
3.
1
2
4. 2010
11.7.2
312,367,294.79 75.95%1,569,900,000.00 100.00% - -
98,899,390.90 24.05% - - - -
1.
2010 2 3
2.
2010 6 12
3.
2010 11 8
1.
2.
40
3.
4.
5.
6.
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