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Quarterly report of the fund: The fund manager shall compile and complete quarterly fund reports within 15 working days from the end of each quarter, and publish the quarterly reports in designated newspapers and websites.


Half-year report of the fund: The fund manager shall compile and complete the semi-annual report of the fund within 60 days from the end of the first half of the year, and publish the text of the semi-annual report on the website, and publish the summary of the semi-annual report in the designated newspapers and periodicals.


Annual report of the fund: The fund manager shall compile and complete the annual report of the fund within 90 days from the end of each year, and publish the text of the annual report on the website, and publish the summary of the annual report in the designated newspapers and periodicals. The financial report of the annual report of the fund shall be audited.


Therefore, we will see that the disclosure time of the quarterly report is in January, April, July and October, the semi-annual report is in August, the annual report is in March, and the specific number is still counted, but generally it is in late.


The annual report of the fund will disclose many data that are not available in the quarterly report or the semi-annual report. However, the vast majority of data are of little use to our individual investors. There are only a few data that can be focused on.


Holder structure


The annual and semiannual report of the fund discloses the number and structure of the holders. From this we can see whether the structure of the holder of this fund is healthy.


The number is only a few hundred people. When the average person holds millions in the amount of money, it is considered by the institutional holders to have a private field. If such a fund turns out to be a thunder-storming event, the organization must be able to run fast. As for whether or not you can It's hard to keep up with it. After all, buying a fund is not professional. Compared with institutional holders' holdings, it can be seen that institutional investors are optimistic about the fund.


It is not unreasonable for institutions to be optimistic, especially for actively managed equity funds, which have been thoroughly investigated and carefully considered.


Complete shareholding details


Different from the quarterly report, only the top ten stocks are disclosed, and both the annual report and the semi-annual report reveal the details of full holdings. Looking at the full version of the holding details will have a clearer understanding of the fund manager's shareholding style.


It is possible to look at only the top ten most-shrink stocks, and to look at the full version of the holding details, it is also possible to avoid lightning, especially for those funds that are not very large. Many times, step-throwing is a sign, those big Pits are often caused by redemption. This is also an informational advantage. Some people see potential risks and slip away in advance. This is true of several recent mines. Of course, some mines are too fast and the annual report has not been disclosed yet.


In general, the fund's annual report is not very nutritious and lacks timeliness. It is also very confusing for individual investors. It seems to be very laborious. Therefore, it is enough to simply study these data.