Unveiled recently, Morningstar (China) "2010 Fund of the Year" was awarded to BOC Profit Increase Fund whose long-term good performance has topped the other 122 funds, making it the only bond fund for such an award.
As a bond fund under Bank of China, the Fund was set up in 2008. It invested 80% - 100% of the net asset value in fixed income products such as bonds, 5% in cash and government bonds with less than one year in maturity, and the remaining 0%-20% in equity products such as stocks. According to the data compiled by Morningstar, as of April 15, 2011, BOC Profit Increase Fund’s past two years' return was as high as 8.26%, ranking the first among the 27 funds in the same category.
As a critical component of its evaluation system, Morningstar bases its selection of "Fund of the Year" on such factors as the fund's long-term performance, level of risk management and investor services, which are key reference indices for long-term investors.
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