The first half of 2024 has concluded for investment. Amidst a market characterized by volatility and divergence, numerous investment hotspots have emerged, such as the banking and dividend themes in the A-share market which have shown impressive performance. In addition, the Hong Kong stock market has rebounded, the bond market has continued to warm up, and gold has also had a commendable performance. Data from Galaxy Securities indicates that in the first half of the year, the CSI Dividend Index rose by 7.75%, the SSE 50 Index increased by 2.95%, and the CSI Total Bond Index climbed by 4.31%. Against this backdrop, public mutual funds have met investors' demands for asset preservation and appreciation with their diverse asset allocation capabilities and rich product layouts, achieving average positive returns for various types of funds in the first half of the year. Looking at the market from a longer-term cycle, public mutual funds have leveraged their professional investment strengths and long-term investment capabilities to enhance investors' sense of gain. Some fund companies have performed exceptionally well. Taking ICBC Credit Suisse Fund as an example, as of the end of June, according to Haitong data, its equity funds' absolute returns over the past five and seven years rank first and third (1/13, 3/13) among large equity companies, respectively, with excess returns leading the large equity companies over the past five and seven years (1/13). Its bond-oriented funds' absolute returns over the past decade rank in the top 1/3 of the industry, consistently creating good returns for investors.

Rich Layout, Serving Diverse Allocation Needs

In the first half of 2024, the market overall showed a divergent performance. Against a backdrop of coexisting challenges and opportunities, many types of public mutual funds have achieved good returns. Galaxy Securities data shows that as of June 30, 2024, the average return of gold funds reached 13.36%, commodity funds 5.53%, QDII equity funds 6.08%, and ordinary bond funds 1.97%, demonstrating the advantage of public mutual funds in diversified asset allocation. Some fund companies, with comprehensive layouts, have provided investors with a variety of investment solutions. For instance, ICBC Credit Suisse Fund, through forward-looking investment opportunity discovery and focusing on investor allocation needs, has built a full product chain including equity, fixed income, index, retirement, and overseas, meeting investors' diversified allocation needs. Galaxy Securities data shows that as of the end of June 2024, ICBC Credit Suisse Fund has outstanding performance in various time periods, with 32, 24, 26, and 16 funds ranking in the top 1/10 or top 10 of their categories (calculated by category) in the past one, two, three, and five years, respectively, covering various types such as active equity, index quantification, hybrid, and bonds. In passive investment, themes like central enterprise and Hong Kong dividend have performed well. As the market's first central enterprise theme ETF, ICBC Shanghai Central Enterprise 50 ETF ranks 5/334 and 10/143 in the past one and three years, respectively, in its category, demonstrating the advantage of investing in a basket of high-quality "underlying assets" of central enterprises. The ICBC Shanghai 50 ETF and ICBC Shanghai 50 ETF A, which focus on large-cap value stocks, also rank in the top ten in their categories in the past year. The Hong Kong Dividend ETF, focusing on high dividend investment in Hong Kong stocks, ranks 1/34 in the Hong Kong Stock Connect Equity ETF category in the past year. In terms of active equity funds, several products under ICBC Credit Suisse Fund have joined the top 1/10 of their categories in different time periods, covering various styles and themes. Among them, the dividend strategy, with the advantages of "high dividends, low valuation, and low volatility," has continued to rise. According to Galaxy data, the ICBC Dividend Enjoyment Mixed Fund ranks in the top 11/477 and 19/477 in the past one and two years, respectively, in its category. Looking at a longer term, the ICBC Ecological Environment Equity and ICBC Frontier Medical Equity have ranked first in their categories in the past five years (1/10, 1/21), and several other active equity funds also rank in the top ten in their categories in the past five years, becoming a testament to the company's long-term equity investment capabilities. In the fixed income field, ICBC Credit Suisse Fund's convertible bond funds, secondary debt funds, and pure debt funds have been noteworthy in various time periods. Galaxy Securities data shows that the ICBC Convertible Bond ranks 3/37, 5/29, and 1/38 in the past one, three, and five years, respectively, in its category. The ICBC Ruiying 18-Month Open Bond ranks 1/25 and 2/22 in the past one and two years, respectively, in its category. The ICBC Tianxiang One-Year Regular Open ranks in the top five in its category in the past one, two, and three years, respectively, as 5/25, 3/22, and 4/17. In the short-term debt fund category, the ICBC Zunxiang Short-Term Bond ranks 6/28 in the past five years in its category. Additionally, in the first half of the year, QDII funds with global allocation attributes have become tools for domestic investors to layout overseas. As one of the earlier fund companies to go overseas, ICBC Credit Suisse has continued to perform well in the QDII fund sector. According to Haitong Securities data, the ICBC Global Selection Equity ranks 4/35 and 3/13 in the past three and seven years, respectively, providing investors with a variety of allocation options. It is worth mentioning that public REITs, as an innovative financial product that provides investors with expected relatively stable dividend income, have become an important category for public mutual funds to enhance asset allocation and diverse investment capabilities. ICBC Credit Suisse's first REIT product, ICBC Hebei Expressway REIT (Code: 508086), was successfully listed on June 28, further enriching its product line and providing investors with more investment options.

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Tempering into Gold, Assisting Long-Term Runs with Professionalism

Rooted in the fertile soil of the asset management industry, creating good returns for investors is the original intention and mission of every asset management institution, and it is also the standard for measuring investment strength. With 19 years of deep accumulation in investment research, product layout, risk management, and other aspects, ICBC Credit Suisse Fund continuously tempers its investment strength, enhancing investors' sense of gain with stable long-term returns. Since its establishment 19 years ago, ICBC Credit Suisse has always attached great importance to the construction of its own investment research capabilities, regarding the creation of a first-class investment research platform and the provision of first-class investment services as its own duty, and continuously consolidating advantages in three aspects: "investment research platformization," "investment research integration," and "talent echelon improvement," striving towards the goal of becoming a "first-class investment institution." In terms of "investment research platformization," the company has established 15 capability centers and four major research sectors, actively promoting the construction of "intelligent investment research" and "intelligent risk control" platforms, assisting in enhancing the scientific nature of investment decisions and strengthening investment risk prevention and control capabilities. In terms of "investment research integration," the company adheres to the concept of "research drives investment, and investment guides research," establishing a multi-level research system covering macro, industry, and company levels, strengthening the transformation of research results into investment, and providing strong support for various portfolio investment management. In terms of talent echelon construction, ICBC Credit Suisse has long regarded talent as the company's most important resource, establishing a "pyramid" style talent training system through "long-term training" and "passing on and helping" mechanisms, building a strong investment research team with a complete "old, middle, and new" echelon and heritage of advantages. With medium and long-term investment research capabilities that span bull and bear cycles, ICBC Credit Suisse has won the trust of a broad base of investors and high recognition from industry authoritative institutions. It is reported that as of the end of the second quarter of 2024, the total asset management scale of ICBC Credit Suisse Fund reached 1.9 trillion yuan, providing professional investment services for over 90 million domestic and foreign investors. Like a river that does not compete to be the first but strives for an endless flow, ICBC Credit Suisse Fund, after 19 years of meticulous cultivation, has not only achieved the accumulation and inheritance of investment research capabilities but also practiced long-termism in investment research. In the future, ICBC Credit Suisse will continue to forge ahead with its platform strength accumulated over the years, striving to contribute professional strength to the continuous management of residents' financial affairs.

Data Explanation: 1. Rankings of equity, fixed income, pure debt, and bond-oriented funds are sourced from Haitong Securities, with data as of the end of June 2024. ICBC Credit Suisse's equity funds' excess returns rank 1/13 in the past five and seven years among large equity companies, with absolute returns ranking 1/13 and 3/13 in the past five and seven years, respectively; fixed income fund returns rank 19/65, pure debt funds 10/27, and bond-oriented funds 17/64 in the past ten years. 2. ICBC Shanghai Central Enterprise 50 ETF ranks 5/334 and 10/143 in the past one and three years, respectively, in the category of thematic index stock ETF funds. ICBC Shanghai 50 ETF and ICBC Shanghai 50 ETF A rank in the top ten in the past year (8/144, 8/111) in their categories of scale index stock ETF funds and scale index stock ETF linked funds (A class), respectively. ICBC Dividend Enjoyment Mixed ranks in the top 11/478 and 19/478 in the past one and two years, respectively, in the category of flexible allocation funds (benchmark stock ratio 60%-100%) (A class). ICBC Ecological Environment Equity and ICBC Frontier Medical Equity rank first in their categories in the past five years (1/10, 1/21), in the categories of low-carbon environmental protection industry equity funds (A class) and medical health industry equity funds (A class), respectively. ICBC Convertible Bond ranks 3/37, 5/29, and 1/38 in the past one, three, and five years, respectively, in the category of convertible bond funds (A class). ICBC Ruiying 18-Month Open Bond ranks 1/25 and 2/22 in the past one and two years, respectively, in the category of open ordinary bond funds (secondary) (A class). ICBC Tianxiang One-Year Regular Open ranks in the top five in its category in the past one, two, and three years, respectively, as 5/25, 3/22, and 4/17, in the category of open ordinary bond funds (secondary) (A class). ICBC Zunxiang Short-Term Bond ranks 6/28 in the past five years in the category of short-term pure debt bond funds (A class).

3. ICBC Global Selection Equity ranks 4/35 and 3/13 in the past three and seven years, respectively, in the category of QDII funds. Risk Warning: Fund managers manage and utilize fund assets in accordance with the principles of due diligence, honesty, and prudence, but do not guarantee the profitability of the fund or a minimum return. Past performance of the fund does not indicate future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of the fund's performance. Investing in funds involves risks, and investors should carefully read the "Fund Contract," "Prospectus," "Fund Product Information Summary," and updates of relevant legal documents, and make investments based on a comprehensive understanding of the product, fee structure, charging standards of various sales channels, and appropriate advice from sales institutions, choosing investment varieties suitable for their own risk tolerance, and exercise caution in investing.