Core Viewpoint - Iran has reported that 111 security personnel have died during recent unrest while maintaining order, leading to a nationwide mourning period for the victims [1] Group 1: Government Response - The Iranian government has declared a three-day national mourning for the "martyrs" who died during the unrest [1] - President Pezeshkian emphasized the government's commitment to addressing the economic difficulties faced by the Iranian people while rejecting foreign influence in domestic affairs [1] Group 2: Public Sentiment and Protests - Protests have erupted across Iran in response to rising prices and currency devaluation, resulting in casualties among both security forces and civilians [1] - The government has called for public demonstrations on the 12th to condemn the violent actions of what they term "terrorist criminals" [1]

Core Viewpoint - The newly launched E Fund Balanced Select (025920) introduces a novel floating management fee model linked to the holding period and annualized return performance, aiming to help investors navigate market volatility through balanced investment strategies [1]. Group 1: Fund Structure and Fee Model - The fund employs a floating fee structure based on the holding period and annualized return, with three different management fee rates depending on performance: 1.5% per year for annualized returns exceeding the benchmark by over 6%, 0.6% per year for returns lagging the benchmark by 3% or more, and 1.2% per year for other scenarios [1]. - This differentiated fee structure allows investors to experience a "pay more for more earnings, pay less for less earnings" approach, fostering a shared interest between fund managers and investors [1]. Group 2: Fund Manager Profile - The proposed fund manager, Yang Jiawen, has 14 years of experience in the securities industry, with 8 years in investment, known for a balanced style and contrarian strategies [2]. - Yang manages four active equity funds, with top ten holdings concentrated between 30%-50%, indicating a broad industry coverage and balanced stock allocation [2]. - Historical performance shows that all four funds under Yang's management have outperformed their respective benchmarks, with the longest-managed fund, E Fund Keri, achieving a net value growth rate of 117.20% since December 2017, significantly surpassing the benchmark's 22.47% return [2]. Group 3: Investment Strategy - The fund will focus on balancing corporate value and growth potential, selecting high-quality targets while controlling risks to pursue sustainable excess returns [2].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) emphasizes the importance of the "14th Five-Year Plan" period for advancing capital market reforms, focusing on risk prevention, strong regulation, and promoting high-quality development [1] Group 1: Capital Market Development - The CSRC aims to enhance the institutional environment for long-term investments, increasing the scale of market entry for various long-term funds and enriching products and risk management tools suitable for long-term investment [2][14] - As of the end of last year, various long-term funds held approximately 23 trillion yuan in A-share market value, a 36% increase from the beginning of the year [2][8] - The CSRC is committed to deepening reforms in the Science and Technology Innovation Board (STAR Market) and the Growth Enterprise Market (GEM), as well as reforming refinancing processes [2][8] Group 2: Investor Protection and Market Integrity - Protecting the legitimate rights and interests of small and medium-sized investors is a top priority in promoting coordinated investment and financing functions [4][12] - The CSRC has taken measures to maintain market fairness, responding promptly to investor concerns and cracking down on various illegal activities, including financial fraud [10][12] Group 3: Corporate Value Enhancement - The CSRC is focused on encouraging listed companies to enhance their value creation capabilities, emphasizing the importance of cash dividends and supporting companies in improving their operations [9][15] - Last year, cash dividends from A-share listed companies reached a record high of 2.55 trillion yuan, double the scale of IPOs and refinancing during the same period [9] Group 4: Regulatory and Institutional Reforms - The CSRC plans to continuously deepen comprehensive reforms in investment and financing, improving the adaptability and inclusiveness of the system to better promote qualitative and quantitative growth in the capital market [14][15] - The CSRC aims to strengthen the regulatory framework, enhance investor education and protection, and ensure strict enforcement against severe violations [15]

Core Viewpoint - The launch of the new floating fee rate fund, E Fund Balanced Select (025920), introduces a management fee model linked to the holding period and annualized return, aiming to enhance investor experience and promote long-term investment [1][2]. Group 1: Fund Structure and Fee Model - E Fund Balanced Select (025920) employs a unique floating management fee structure based on the holding period and annualized return, with three different fee rates depending on performance relative to a benchmark [1]. - If the holding period exceeds one year and the annualized return exceeds the benchmark by more than 6%, the management fee is set at 1.5% per year; if the return lags the benchmark by 3% or more, the fee drops to 0.6% per year; in other scenarios, the fee is 1.2% per year [1]. Group 2: Fund Manager Profile - The fund manager, Yang Jiawen, has 14 years of experience in the securities industry, with 8 years specifically in investment, known for a balanced style and contrarian strategy [2]. - Yang manages four active equity funds, with a low concentration in top holdings (30%-50%), indicating a broad industry coverage and balanced stock allocation [2]. Group 3: Historical Performance - Historical performance of Yang's managed funds shows consistent outperformance against benchmarks, with E Fund Keri achieving a net value growth rate of 117.20% since December 2017, significantly exceeding the benchmark return of 22.47% [2]. - The annualized return for E Fund Keri is reported at 10.16%, with an annualized volatility of 16.73%, indicating a stable risk-return profile [2][3]. Group 4: Investment Strategy - The fund will focus on balancing corporate value and growth potential, selecting high-quality targets while managing risks to pursue sustainable excess returns [2].

Core Viewpoint - Huatai-PB Fund announced a cash dividend for its CSI 300 ETF, distributing 1.23 yuan per 10 fund shares, with key dates set for January 2026 [1][2] Group 1: Dividend Announcement - The cash dividend distribution is scheduled for January 27, 2026, with the record date on January 16, 2026, and the ex-dividend date on January 19, 2026 [1] - The total dividend amount is expected to reach 11 billion yuan, potentially setting a record for single dividend distribution in domestic ETFs [2] Group 2: Fund Background and Performance - Huatai-PB CSI 300 ETF, established on May 4, 2012, has conducted 13 dividend distributions to date, with total dividends projected to exceed 27 billion yuan [3] - The fund's previous dividend distributions include 0.88 yuan per 10 shares in June 2025, totaling over 8 billion yuan, and approximately 2.5 billion yuan in early 2024, ranking it among the top in stock ETFs [3] Group 3: Market Trends - The A-share market has seen a surge in cash dividends due to enhanced regulatory policies, leading to increased stability and predictability in dividend distributions from listed companies [3] - As of January 11, 2026, 79 public funds have implemented dividend distributions, totaling over 3.1 billion yuan within the first half of the month [3]

近日，美国总统特朗普呼吁将信用卡利率设定为期一年的上限10%，自1月20日起生效，但未说明具体细节。 他在社交媒体上写道："请知悉，我们将不再允许美国公众被那些信用卡公司'宰割'——它们收取20%到30%，甚至更高的利率，而这种情况 在拜登政府期间一直放任发展、无人管控。负担能力（AFFORDABILITY!）！" 中国基金报记者 泰勒 大家好，简单关注一下特朗普整顿金融圈的消息。 特朗普呼吁将信用卡利率上限设定为10% 目前尚不清楚信用卡公司是否会响应他的呼吁，也不清楚他会采取什么行动来强制促成变化。 这条帖文发布之际，特朗普政府正加大力度向选民证明，其正在处理有关生活成本和物价的担忧——这些问题已成为11月中期选举的核心议 题。 特朗普并未明确说明，利率上限将通过行政命令还是通过立法来生效。不过，一名共和党参议员表示，他已与总统通话，并将在总统"全力支 持"下推动相关法案。特朗普称，他希望该上限能在1月20日落实——这一天是他就任满一周年。 在2024年总统竞选期间，特朗普曾承诺推动限制信用卡公司可收取的利率水平。 就在特朗普上周五发布信息的数小时前，佛蒙特州独立派参议员伯尼·桑德斯在X上表示："特朗普承 ...

全美多地抗议联邦执法人员打死美籍女子 （原标题：全美爆发大规模抗议） 来源：新华社 美国数十座主要城市10日发生游行示威，抗议移民与海关执法局(ICE)执法人员在明尼苏达州明尼阿波 利斯市开枪打死一名美国籍女子。 美国ICE执法人员7日在明尼阿波利斯市进行针对非法移民的大规模执法行动时，射杀37岁美国公民蕾 恩·妮科尔·古德，引发当地持续抗议，舆论高度关注。在事件性质认定及调查方向上，民主党主政的明 尼苏达州政府与共和党籍总统特朗普领导的联邦政府分歧明显。 在白宫围栏外的总统公园，示威者手举写有"为蕾恩·古德伸张正义""唤醒美国"等标语横幅，要求追究 ICE的责任。一名示威者对媒体表示："事情太过了！我们不能允许这样！明尼苏达州要求ICE离开，但 ICE反而派遣了更多人员。" 示威活动由美国多个民间团体发起。据主办方介绍，10日至11日将在全国范围内组织超过1000场抗议活 动，以"彻底废除ICE"为口号。一些城市将为死者举办烛光守夜活动。主办方在一份声明中说，联邦移 民执法机构对社区成员滥施暴力、滥用职权，却逍遥法外，"这起杀戮事件仅是冰山一角"。 当天，示威者在华盛顿、纽约、费城、波士顿、西雅图等地游行， ...

Core Viewpoint - The article highlights a significant case of corruption involving ten officials in Luo County, Henan Province, who violated the Central Eight Regulations during a learning education period, emphasizing the ongoing commitment to strict governance and the consequences of misconduct [1][3][14]. Group 1: Incident Overview - In March 2025, ten officials from Luo County engaged in a banquet that violated the Central Eight Regulations, leading to severe repercussions, including one death and disciplinary actions against the remaining nine [1][3]. - The banquet was organized by Li Xianlin, who was aware of the regulations but chose to disregard them, reflecting a broader issue of complacency among officials regarding compliance [3][5]. Group 2: Consequences and Reactions - The aftermath of the banquet resulted in Li Xianlin being expelled from the Party and public office, with criminal charges filed against him, highlighting the serious consequences of such violations [17][18]. - The incident prompted a comprehensive review and crackdown on similar misconduct across the province, with the establishment of oversight mechanisms and stricter regulations to prevent future violations [20][22]. Group 3: Broader Implications - The case serves as a reminder of the importance of adhering to the Central Eight Regulations, with the potential for significant personal and professional costs for those who fail to comply [24][26]. - The article underscores the need for continuous efforts to improve governance and maintain a strong connection between the Party and the public, as well as the importance of addressing corruption at all levels [26][28].

【导读】特朗普，信用卡利率10%封顶 大家好，简单关注一下特朗普整顿金融圈的消息。 特朗普呼吁将信用卡利率上限设定为10% 近日，美国总统特朗普呼吁将信用卡利率设定为期一年的上限10%，自1月20日起生效，但未说明具体细节。 他在社交媒体上写道："请知悉，我们将不再允许美国公众被那些信用卡公司'宰割'——它们收取20%到30%，甚至更高的利率，而这种情况 在拜登政府期间一直放任发展、无人管控。负担能力（AFFORDABILITY!）！" 目前尚不清楚信用卡公司是否会响应他的呼吁，也不清楚他会采取什么行动来强制促成变化。 这条帖文发布之际，特朗普政府正加大力度向选民证明，其正在处理有关生活成本和物价的担忧——这些问题已成为11月中期选举的核心议 题。 特朗普并未明确说明，利率上限将通过行政命令还是通过立法来生效。不过，一名共和党参议员表示，他已与总统通话，并将在总统"全力支 持"下推动相关法案。特朗普称，他希望该上限能在1月20日落实——这一天是他就任满一周年。 在2024年总统竞选期间，特朗普曾承诺推动限制信用卡公司可收取的利率水平。 就在特朗普上周五发布信息的数小时前，佛蒙特州独立派参议员伯尼·桑德斯在X上 ...

Core Insights - The domestic ETF market is experiencing a record-breaking cash dividend, with Huatai-PB's CSI 300 ETF set to distribute a total of approximately 11 billion yuan, marking the largest single dividend in the history of ETFs in China [1][2] Group 1: Dividend Announcement - Huatai-PB announced a cash dividend of 1.23 yuan per 10 fund shares for its CSI 300 ETF, with the record date on January 16, 2026, and the payment date on January 27, 2026 [1] - The total dividend amount is expected to reach 11 billion yuan, surpassing the previous record for a single ETF dividend in China [1] Group 2: Historical Dividend Performance - Since its inception on May 4, 2012, the Huatai-PB CSI 300 ETF has distributed dividends 13 times, with a cumulative total expected to exceed 27 billion yuan after this latest distribution [1] - Previous dividends include 0.88 yuan per 10 shares in June 2025, totaling over 8 billion yuan, and approximately 2.5 billion yuan in early 2024, indicating a trend of increasing dividend amounts over the years [2] Group 3: Market Trends - The A-share market is witnessing a surge in dividend distributions, driven by enhanced regulatory policies on cash dividends from listed companies, leading to greater stability and predictability in dividend payouts [2] - As of January 11, 2026, 79 public funds have implemented dividend distributions, accumulating over 3.1 billion yuan in total within the first half of the month [2]