Market risk: Chaochao and Chaochao are products invested in money market funds, and the income of money market funds is affected by market interest rates, so there is market risk. If the market interest rate rises, the fund's income will fall, and vice versa.
Credit risk: Although China Merchants Bank has screened and supervised Chao and Chao's portfolio, the issuers of debt instruments such as bonds invested by the Fund still have the risk of default, which may lead to losses of the Fund.