China Life Insurance Asset Management Zunyue Pure Bond Fund Faces Liquidation Risk Within Half Year of Establishment

AI · Fund Manager Sang Ying’s Multiple Funds Frequently Face Risks: What Are the Connections?

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Recently, China Life Anbao Fund announced that as of March 2, 2026, the China Life Anbao Zunyue Pure Bond Fund has had its net asset value fall below 50 million yuan for 30 consecutive trading days, potentially triggering the termination of the fund agreement.

According to the fund contract of China Life Anbao Zunyue Pure Bond Fund, if the fund’s unit holder count is less than 200 or the net asset value falls below 50 million yuan for 50 consecutive trading days, the fund manager should proceed with liquidation and terminate the fund contract according to the procedures specified in the contract, without the need to hold a unit holder meeting for a vote.

It is noteworthy that China Life Anbao Zunyue Pure Bond Fund was established in October 2025. At its inception, the net subscription amount was approximately 261 million yuan. Less than half a year after its establishment, its net asset value has fallen below 50 million yuan.

As of March 12, 2026, the unit net value of China Life Anbao Zunyue Pure Bond Fund A has increased by only 0.51% since its inception.

The fund manager of China Life Anbao Zunyue Pure Bond Fund is Sang Ying. Another fund managed by Sang Ying — China Life Anbao Zunfu 30-Day Holding Period Bond Fund — also became a mini fund less than a year after its launch, repeatedly issuing warnings of liquidation.

China Life Anbao Zunfu 30-Day Holding Period Bond Fund was established in March 2025. In December 2025, China Life Anbao Fund announced that as of December 17, 2025, the fund’s net asset value had been below 50 million yuan for 45 consecutive trading days, potentially triggering the termination of the fund agreement.

According to the Q4 2025 report, the net asset value of China Life Anbao Zunfu 30-Day Holding Period Bond Fund recovered to 61.19 million yuan by the end of 2025.

As of March 12, 2026, the unit net value of China Life Anbao Zunfu 30-Day Holding Period Bond Fund A has increased by only 1.02% since its inception.

Risk reminder: The opinions are for reference only and do not constitute investment advice. The market carries risks; investments should be cautious. Past performance of funds does not indicate future results. The performance of other funds managed by the fund manager and the fund manager’s team does not guarantee the performance of this fund.