“银行系”公司二十载，上银基金凭何脱颖而出？

Core Viewpoint - The A-share market has shown a strong upward trend this year, breaking through multiple key levels, with the Shanghai Composite Index reaching 3800.35 points as of August 27. The market is perceived to be in a "slow bull" phase, but rapid sector rotation requires careful investment strategies from institutional investors like public funds [2][11]. Group 1: Market Performance - The A-share market has seen significant trading activity, with daily trading volumes exceeding 2 trillion yuan for 11 consecutive trading days from August 13 to August 27 [2]. - The Shanghai Composite Index has consistently set new high records, indicating a robust market sentiment [2]. Group 2: Public Fund Performance - Bank-affiliated public fund company, Shangyin Fund, has demonstrated strong research and investment capabilities, achieving notable performance in both equity and fixed-income funds [3][5]. - As of June 30, 2025, Shangyin Fund's equity funds ranked in the top 15% and 20% for 5-year and 7-year returns, respectively, with returns of 33.07% and 85.89% [3]. Group 3: Research and Investment Strategy - Shangyin Fund has established a comprehensive research framework, including specialized committees and teams focusing on macro strategies, credit evaluation, and industry research [5][6]. - The company emphasizes a dual-track model for talent development, combining external recruitment and internal training to build a highly skilled research team [5]. Group 4: Investment Opportunities - The company identifies three main investment opportunities: AI-related industries, domestic brand competitiveness, and resource sectors such as copper and precious metals, which are seen as stable and valuable for long-term investment [12][14]. - The healthcare sector, particularly the Shangyin Medical Health A fund, has shown exceptional performance with a net value growth rate of 63.20% over the past year, significantly outperforming its benchmark [9]. Group 5: Future Outlook - The company anticipates continued liquidity in the stock market due to a moderately loose monetary policy, which is expected to support market sentiment and improve corporate earnings [12]. - Shangyin Fund plans to enhance its research capabilities and explore diversified development in line with regulatory initiatives aimed at promoting high-quality growth in public funds [14].