巨头官宣大手笔自购：2.3亿元

Core Viewpoint - Southern Fund demonstrates confidence in the Chinese capital market by announcing a self-purchase of its equity funds amounting to no less than 230 million yuan, reflecting a strong belief in the long-term health and stability of the market [1][2]. Group 1: Fund Self-Purchase Actions - Southern Fund has committed to investing at least 230 million yuan in its equity funds, including specific funds like the Southern CSI A500 ETF and Southern S&P China A-Share Large Cap Dividend Low Volatility ETF, with a holding period of at least one year [2]. - Other fund companies, such as ICBC Credit Suisse, Founder Fubon, and Da Cheng, have also engaged in self-purchases, indicating a broader trend among asset management institutions to invest their own capital [1][5]. - The total net subscription amount for public funds' self-purchases in equity funds (stock and mixed types) has reached 2.464 billion yuan this year, highlighting a sustained trend of self-purchase actions among fund companies [15]. Group 2: Market Confidence and Economic Outlook - The recent market recovery has led many institutions to recognize the medium to long-term investment value of the A-share market, with Southern Fund citing the strong vitality and resilience of the Chinese economy as a foundation for the capital market's long-term growth [16]. - Despite external complexities, China's GDP achieved a steady growth of 5.3% in the first half of the year, indicating a positive macroeconomic trend [16]. - The current valuation of the Chinese stock market is seen as particularly attractive, with the CSI 300 Index and Hang Seng Index trading at price-to-earnings ratios of 13.93 and 11.83, respectively, which are lower than those of major mature markets [16]. Group 3: Future Market Expectations - A fund company expressed a cautiously optimistic view on the A-share market for the second half of 2025, anticipating a three-phase upward cycle driven by policy support, technological advancements, and globalization [17]. - The market may enter a phase of adjustment after a rapid rise, but the long-term outlook remains positive, particularly in sectors such as technology, domestic demand stimulation, and financial reform [17].