中國大陸焦點基金 智者之選基金之子基金 半 年 度 報 告 2010
Value Partners Limited 9th Floor, Nexxus Building, 41 Connaught Road Central, Hong Kong Tel: (852) 2880 9263 Fax: (852) 2565 7975 Email: vpl@vp.com.hk Website: www.valuepartners.com.hk In the event of inconsistency, the English text of this Semi-Annual Report shall prevail over the Chinese text.
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Bank of Bermuda (Cayman) Limited PO Box 513 HSBC House 68 West Bay Road Grand Cayman KY1-1106 Cayman Islands Maples and Calder PO Box 493 Century Yard Cricket Square Grand Cayman KY1-1106 Cayman Islands (852) 2880 9263 (852) 2565 7975 vpl@vp.com.hk www.valuepartners.com.hk
25 25 Institutional Investor 100 79 Institutional Investor Thomson Reuters Extel Thomson Reuters Extel Alpha Magazine AsianInvestor Capital Markets Person of the Year: FinanceAsia Asia Asset Management Journal DHL Global Money Management, London Institutional Investor The Asset Benchmark Survey
2009 2010 2010 2010 1.8% 6.1% 2009 86.1% 56.6% 62.3% A 2010 26.8% 2010 6 30 32.1% 12.8% 10.9%
9.1% 2010 11.9% 2009 9% 8% 7% 2,500 12% 6%
2010 7 1
90 2010 7 13 Institutional Investor 2010 25 2010 25 Institutional Investor2010 5 2010 100 79 Institutional Investor 2010 6 30
2010 6 30 883 HK 768 116 HK 12 939 HK 1,903 200869 CH 50 941 HK 2,015 2010 13.38 13.5 2.9 2.8% 13.28 12.5 1.6 2.4% 6.34 9.9 2.1 4.4% 73.50 24.0 8.8 2.3% 78.20 11.6 2.4 3.8% 13,384 2008 2005 GSM 900/1800 4.57 50% 2010 6 30 21.3%2010 6 30
= 30.39 600% 500% 400% 300% 200% +233.7% +203.9% 100% 0% -100% 11/03 5/04 11/04 5/05 11/05 5/06 11/06 5/07 11/07 5/08 11/08 5/09 11/09 5/10
102,095,552 112,680,044 7,075,980 5,601,585 1,557,377 2,031 254,036 11,547 117,953 178,921 21,406,889 10,155,536 132,507,787 128,629,664 6,232,444 2,249,400 1,331,044 161,006 1,064,870 402,930 627,114 127,519 135,536 18,857 20,027 66,480 114,254 9,258,636 3,292,845 123,249,151 125,336,819 123,506,141 125,659,088 (256,990) (322,269) 4,064,1314,209,686 30.39 29.85 1 0
B 259,619 464,053 0.38 B 3,246,471 3,365,494 2.73 B 506,796 290,357 0.24 B 708,461 1,303,568 1.06 B 1,231,163 849,285 0.69 B 757,867 1,737,781 1.41 B 80,237 85,343 0.07 B 498,067 4,702,608 3.82 12,798,489 10.40 470,000 856,126 0.69 H 477,000 545,346 0.44 1,129,000 1,609,832 1.31 6,876,000 2,243,537 1.82 3,939,000 6,770,267 5.49 H 3,300,000 1,844,025 1.50 1 1
H 938,000 602,472 0.49 H 6,214,000 5,060,859 4.11 H 728,000 675,200 0.55 437,500 4,380,845 3.55 1,412,000 1,784,816 1.45 H 317,000 1,160,561 0.94 641,000 1,963,858 1.59 4,380,000 1,654,189 1.34 3,128,000 5,328,120 4.32 2,018,000 1,000,627 0.81 860,000 533,592 0.43 3,174,000 1,553,444 1.26 H 1,698,000 2,983,922 2.42 H 290,000 320,376 0.26 898,000 372,600 0.30 H 3,328,000 2,449,636 1.99 () 1,078,000 1,087,057 0.88 1,328,704 302,110 0.25 3,230,000 1,004,111 0.81 924,000 4,011,921 3.26 1 2
() 4,315,000 1,579,754 1.28 4,159,000 1,501,270 1.22 6,184,000 992,986 0.81 1,030,000 462,000 307,422 0.25 H 2,343,000 2,630,555 2.13 12,860,000 1,040,747 0.84 8,000 8,910 0.01 H 1,749,000 1,314,345 1.07 976,000 87,763 0.07 768,000 297,942 0.24 1,615,000 1,265,511 1.03 2,422,000 1,384,516 1.12 United Company RUSAL Plc 1,896,000 1,707,340 1.39 3,230,000 4,406,469 3.58 4,580,000 141,202 0.11 1,103,500 910,062 0.74 224,000 699,227 0.57 72,375,470 58.72 1 3
2,052,000 1,456,920 1.18 CJ O Shopping Co Ltd 35,936 2,902,879 2.36 439,000 1,555,190 1.26 252,000 278,782 0.23 1,833,972 1.49 Chai-Na-Ta Corp 239,328 5,983 0.00 1 4
6% Conv 07/23/2014 700,000 95,890 0.08 68,420 66,367 0.05 CS AP Note 01/20/2014 327,000 627,186 0.51 CS A P Note 07/06/2012 1,057,600 2,931,667 2.38 CS A P Note 12/30/2013 284,100 1,015,089 0.82 SB A P Note 05/04/2011 244,100 468,295 0.38 SB A P Note 04/18/2011 791,300 1,911,302 1.55 SB A P Note 05/03/2011 20,300 49,032 0.04 7,002,571 5.68 1 5
ACWts 01/20/2015 366,400 702,931 0.57 A CWts 01/17/2012 397,500 1,101,985 0.89 A CWts 01/20/2015 110,900 267,871 0.22 A 01/20/2015 405,200 1,447,784 1.17 3,520,571 2.85 Wts 10/31/2012 92,400 36,440 0.03 102,095,552 82.84 5,700 7,075,980 5.74 109,171,532 88.58 1 6
H 2,296,000 (1,775,547) (1.44) H 1,006,000 (1,222,511) (1.00) 802,000 (1,514,452) (1.23) 1,530,000 (471,700) (0.38) 790,000 (1,248,234) (1.01) (6,232,444 ) (5.06 ) (6,232,444 ) (5.06 ) 102,939,088 83.52 82,219,766 1 7
10.40 27.48 53.66 51.70 3.20 1.18 4.13 2.36 1.49 2.99 0.00 0.00 69.09 89.50 0.08 0.12 0.08 0.12 0.23 0.05 0.05 5.68 2.85 0.03 2.88 5.74 4.47 83.52 94.37 1 8