China Onshore
001856
E Fund Environmental Protection Flexible Allocation Hybrid Fund
- Daily NAV and Return
- Basic Information
- Portfolio Managers
- Fee Structure
- Asset Allocation
- Historical Daily NAV
- Risk Disclaimer
| Fund Name: | E Fund Environmental Protection Flexible Allocation Hybrid Fund |
| Fund Name (Short name): | E Fund Environmental Protection Hybrid Fund |
| Fund Code: | 001856 |
| Inception Date: | 2017-06-02 |
| Fund Manager: | E Fund Management Co., Ltd. |
| Portfolio Managers: | He Qi |
| Custodian: | China Construction Bank |
| Net Asset Value: | As of 31/12/2025: RMB 3,269,029,929.33 |
| Investment Scope: | The Fund may invest in stocks which are legally issued and listed on China mainland exchanges (including those listed on the ChiNext Market, SME Board as well as other stocks or depositary receipts issued and listed as approved by or registered at CSRC), bonds (including China government bonds, central bank bills, local government bonds, financial bonds, corporate bonds, company bonds, short-term company bonds issued by securities companies, subordinated bonds, medium-term notes, commercial paper, convertible bonds, exchangeable bonds, private bonds of small and medium enterprises, etc.), asset-backed securities, bond repurchase agreements, bank deposits, warrants, stock index futures, options, and other financial instruments as allowed by Laws and Regulations or CSRC. |
| Portfolio Allocation: | The proportion of stock assets in the Fund's assets ranges from 0% to 95%.After deducting margin requirements for stock index futures contracts, cash or government bonds maturing within one year shall not be less than 5% of the Net Asset Value, where cash excludes settlement provisions, deposited margins, or Subscription receivables, etc. The proportion of warrants, stock index futures, options, and other financial instruments in the investment portfolio shall be compliant with the provisions of Laws and Regulations or the rules set by regulatory authorities. The Fund shall invest not less than 80% of its non-cash assets in assets related to an environmental protection theme. |
| Investment Objective: | The Fund aims to pursue investment returns that exceed performance benchmark while managing risk strictly. |
| Benchmark: | CSI Environmental Protection Industry Index Return × 65% + One-year fixed-term RMB deposit interest rate (after tax) × 35% |
In Q4 2025, the CSI 300 Index fell 0.23%, while the CSI Environmental Protection Index declined 1.97% over the same period. The broader market posted stable overall performance.
The New Energy Industry demonstrated divergence in Q4, with significant industry highlights. Shipments in the lithium battery sector continued to rise, and prices began to increase in certain segments against the backdrop of high operating rates at leading enterprises, notably in lithium carbonate, electrolyte and other links, with a modest increase in battery prices. The PV sector overall remained in a state of supply-demand imbalance, with corporate profitability under pressure. However, "anti-involution" policies were gradually rolled out, and enterprises across all segments enhanced coordination, driving heightened market attention to the sector. Demand for energy storage remained robust. Against the backdrop of a relatively active market, public utility and environmental protection assets posted weak performance.
The market has maintained elevated volatility over the past two years. This portfolio avoids establishing positions when market expectations and volatility are excessively high, increases allocation to companies with improving performance and stable earnings expectations, and conducts real-time verification of investment logic.
The Fund's sector allocation remained largely unchanged during the quarter. It maintained an optimistic outlook on investment opportunities brought by energy transition, retained a relatively high allocation to sectors including power new energy, electronics, and communications, and significantly allocated to high-quality enterprises within the aforementioned industries.
| Subscription Amount M (RMB) (inclusive of Subscription fee) | Subscription Fee Rate |
| M<1 million | 1.50% |
| 1 million≤M<2 million | 1.20% |
| 2 million≤M<5 million | 0.30% |
| M≥5 million | RMB 1000.00 per transaction |
| Holding Period (days) | Redemption Fee Rate |
| 0-6 | 1.50% |
| 7-29 | 0.75% |
| 30-89 | 0.50% |
| 90-179 | 0.50% |
| 180-364 | 0.50% |
| 365-729 | 0.25% |
| 730 days or more | 0.00% |
| Management Fee | 1.20% |
| Custody Fee | 0.20% |
| Type of asset | Amount（RMB） | % of Total Asset of the Fund |
|---|---|---|
| Equity Investment | 3,127,767,867.27 | 85.46% |
| Bank Deposit and Settlement Reserve | 451,840,522.44 | 12.35% |
| Others | 80,303,455.94 | 2.19% |
| Total | 3,659,911,845.65 | 100.00% |
| Stock Name | Stock Code | 所在證券市場 | Number of Shares | % of NAV |
|---|---|---|---|---|
| Eoptolink Technology Inc.,Ltd. | 300502 | 深圳證券交易所 | 666,752 | 8.16% |
| China Yangtze Power Co., Ltd. | 600900 | 上海證券交易所 | 10,387,999 | 8.02% |
| Zhongji Innolight Co., Ltd. | 300308 | 深圳證券交易所 | 438,600 | 7.60% |
| Jiangsu Boqian New Materials Stock Co., Ltd. | 605376 | 上海證券交易所 | 3,169,800 | 5.89% |
| Chaozhou Three-Circle (Group) Co.,Ltd. | 300408 | 深圳證券交易所 | 3,718,004 | 4.83% |
| Lingyi Itech (Guangdong) Company | 002600 | 深圳證券交易所 | 10,250,532 | 4.52% |
| IEIT SYSTEMS Co., Ltd. | 000977 | 深圳證券交易所 | 2,082,000 | 3.94% |
| Contemporary Amperex Technology Co., Ltd. | 300750 | 深圳證券交易所 | 371,420 | 3.87% |
| Hengyi Petrochemical Co.,Ltd. | 000703 | 深圳證券交易所 | 9,618,882 | 2.94% |
| Luxshare Precision Industry Co., Ltd. | 002475 | 深圳證券交易所 | 1,823,608 | 2.94% |