沪指站上年内高点，基金为何大笔自购？

Group 1 - Fangzheng Fubon Fund announced its second buyback of equity public funds this year, starting from July 24, with a total amount of no less than 25 million yuan [2][4] - The buyback coincided with the Shanghai Composite Index reaching its annual high of 3600 points on July 24, indicating a positive market sentiment [2][3] - The self-purchase behavior aligns the interests of the fund company with fund performance and investor interests, showcasing confidence in its investment research capabilities [2][7] Group 2 - As of July 29, 2025, a total of 126 public fund companies have initiated self-purchases, particularly favoring equity assets [4][6] - Notable net subscriptions include Tianhong Fund with 288 million yuan for stock funds and ICBC Credit Suisse Fund with 540 million yuan for mixed funds [4] - Many well-known fund managers have also purchased shares in their managed funds, reflecting strong market confidence [4][5] Group 3 - The current low yield on 10-year government bonds and weak real estate market are driving residents to invest more in the stock market [3][6] - The core drivers for the A-share market in the second half of 2025 are expected to be a combination of policy easing, asset scarcity, and industrial upgrades [3][7] - Analysts suggest that the recent strong performance of the A-share market is attracting both domestic and foreign investors, leading to a buildup of optimistic sentiment [7]