年内私募分红逾140亿元，股票策略是主力军

Core Insights - As of September 30, 2025, a total of 1,038 products have distributed dividends this year, with a total of 1,291 distributions amounting to 14.085 billion yuan and an average distribution ratio of 27.59% [1][2] Group 1: Dividend Distribution by Strategy - Stock strategy products are the main contributors to dividends, with 752 distributions, an average distribution ratio of 31.80%, and a total amount of 10.735 billion yuan, accounting for 76.22% of total distributions [2][3] - Multi-asset strategy products have distributed dividends 190 times, with an average distribution ratio of 23.78% and a total amount of 1.267 billion yuan, representing 9% of total distributions [2][3] - Futures and derivatives strategies and bond strategies have similar total distributions, with 155 and 140 distributions respectively, totaling 933 million yuan and 880 million yuan, accounting for 6.63% and 6.25% of total distributions [2][3] Group 2: Performance of Fund Sizes - Funds managed by firms with over 10 billion yuan in assets are the main drivers of dividend distributions, with 131 distributions, an average distribution ratio of 34.62%, and a total amount of 4.999 billion yuan, representing 35.49% of total distributions [3] - Funds with assets between 0 to 500 million yuan have made 667 distributions, leading in frequency, with a total amount of 2.918 billion yuan, accounting for 20.72% of total distributions despite a lower average distribution ratio of 25.97% [3] Group 3: Factors Influencing Dividend Behavior - The active dividend behavior of stock strategy products is driven by strong performance, with an average return of 31.19% and 93.52% of products showing positive returns, creating ample space for distributions [3][4] - Fund managers are intentionally using dividends to manage product scale, preventing dilution of existing holders' returns amid significant inflows, thereby maintaining optimal investment strategy performance [4]