公募基金单季度盈利首次突破2万亿元；次新主动权益基金积极建仓丨天赐良基早参

Group 1: Public Fund Market Overview - The total net asset value of public funds in China reached a record high of 36.74 trillion yuan as of September 2025, with 165 fund management institutions operating in the market [1] - QDII funds, stock funds, and mixed funds saw respective net asset values of 910.62 billion yuan, 5.95 trillion yuan, and 4.31 trillion yuan, with quarter-on-quarter growth rates of 14.21%, 7.28%, and 3.64% [1] - Bond funds and money market funds reported net asset values of 7.2 trillion yuan and 14.67 trillion yuan, experiencing quarter-on-quarter declines of 0.09% and 0.96% [1] Group 2: Fixed Income Fund Growth - The issuance scale of "fixed income+" funds has surpassed 100 billion yuan this year, with several products launching successfully [2] - Notable new products include the secondary bond fund "Fuguo Stable Growth," which raised over 3.5 billion yuan, and "Tianhong Stable Return," which exceeded 2 billion yuan in initial scale [2] Group 3: Fund Profitability - Public funds achieved a record quarterly profit of 2.08 trillion yuan in Q3, marking the highest quarterly profit in history [3] - The cumulative profit for the public fund industry reached 2.72 trillion yuan for the year, with equity products contributing significantly, generating 1.84 trillion yuan in profit during Q3 [3] - Stock funds were the primary profit drivers, with Q3 profits exceeding 1 trillion yuan [3] Group 4: New Active Equity Funds - Newly launched active equity funds have an average stock market value accounting for 77.65% of their net asset value, indicating a moderately aggressive investment stance [4] - Notable performers include the "Qianhai Kaiyuan Research-Driven Fund," which achieved a return of over 46% since its inception in June, maintaining a stock position of 90.24% [4] - Another fund, "Jia Shi Growth Win-Win," also launched in June, reported a return of nearly 47% with a stock position of 92.55%, focusing on growth sectors like AI computing chips and optical communication [4] Group 5: Individual Stock Holdings - Fund manager Cui Chenlong has increased holdings in Zhanxin Co., with his funds appearing as the fourth and seventh largest shareholders as of Q3 [5] - Despite the increased holdings, Zhanxin Co. was not listed among the top ten holdings of these funds [5] - Zhanxin Co. specializes in providing customized chips and IP services, offering a comprehensive service from chip specification design to finished products [5]