信达睿益鑫享混合：2025年第二季度利润35.23万元 净值增长率1.03%

Core Viewpoint - The AI Fund Xinda Ruiyi Xinxiang Mixed Fund (970115) reported a profit of 352,300 yuan for Q2 2025, with a weighted average profit per fund share of 0.0146 yuan. The fund's net value growth rate was 1.03%, and the fund size reached 21.55 million yuan by the end of Q2 2025 [3][15]. Fund Performance - As of July 21, the fund's three-month cumulative net value growth rate was 0.29%, ranking 645 out of 670 comparable funds. The six-month growth rate was 0.58%, ranking 631 out of 670. The one-year growth rate was 3.48%, ranking 552 out of 669, and the three-year growth rate was 4.67%, ranking 335 out of 578 [4]. - The fund's Sharpe ratio over the past three years was -0.1049, ranking 431 out of 554 comparable funds [9]. - The maximum drawdown over the past three years was 3.4%, with a ranking of 488 out of 542 comparable funds. The largest single-quarter drawdown occurred in Q4 2022, at 2.21% [11]. Investment Strategy - The fund is classified as a mixed bond fund. In Q2, the management focused on investing in certain interest rate bonds and conducting swing trading. For flexible assets, the management allocated to fundamentally strong and undervalued targets, adjusting the stock-bond ratio based on market conditions [3]. - The average stock position since inception was 7.63%, compared to the industry average of 18.82%. The fund reached a maximum stock position of 19.19% by the end of H1 2023, with a minimum of 4.47% at the end of 2022 [14]. Market Outlook - Looking ahead, despite facing challenges such as insufficient demand and ongoing declines in the real estate sector affecting household balance sheets, current economic policies are addressing deflation concerns. The domestic economic growth rate is expected to bottom out and recover. The CSI 300 index remains at a historically low valuation, and a gradual recovery in the economy is anticipated to boost corporate performance and valuations, supported by ample market liquidity [3].