Fund to lighten up 2.48 percent

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□ Securities Funds Research Center Mayon versed (Confucius News)

Minsheng Securities Fund positions and sector allocation system (MS-PAM), monitoring data show the average positions of the active direction of the stock fund as of February 3 81.94%, compared to 84.27% of the average position of the previous week down 2.33 percent which take the initiative to lighten up 2.48 percentage points. According to estimates, the average position of the active direction of the stock fund since October 2010, sustained more than 80%, to reach a high of 85.69 percent in mid-February 2011, after positions overall decline in early June 2011 Fund continued to slightly jiacang adjust positions more frequent pace since July 2011. The current position of 81.94% in the medium to high level with the historical position. the

last week, 54 funds (accounting for 15.6%) initiative to lighten up more than 5% of the 244 funds (accounting for 70.3%) take the initiative to lighten up less than 5%, 48 funds (accounting for 13.8%) initiative jiacang less than 5% a fund (accounting for 0.3%) active jiacang more than 5%. Last week, a total of 298 funds (accounting for 85.8%) take the initiative to lighten up. As of February 3, the stock fund positions decreased from 1.81 to 85.30%, partial stock fund positions fell 2.69 to 81.28% Balanced Fund positions decreased from 3.23 to 72.81%.