变相灵活调仓 帮助投资者落袋为安 成长风格基金“红包雨”暗藏玄机
Zhong Guo Zheng Quan Bao·2025-11-12 21:58

Core Viewpoint - The trend of dividend distribution is expanding from traditional index and dividend-themed funds to actively managed equity funds, driven by strong market performance and investor demand for stable cash flow [1][6]. Group 1: Dividend Distribution in Actively Managed Funds - Several actively managed equity funds, particularly growth-style products, have announced dividends for the first time in years, indicating a shift in distribution practices [1][2]. - E Fund's Ke Xun Mixed Fund announced a dividend of 0.9 yuan per 10 fund shares, amounting to 226 million yuan, marking its first dividend since 2021 [2]. - The E Fund's Ping An Growth Mixed Fund and Ke Xiang Mixed Fund also declared dividends, with amounts of 0.7 yuan and 1.60 yuan per 10 fund shares, respectively, reflecting strong performance in sectors like AI and energy storage [2][4]. Group 2: Reasons Behind Dividend Distribution - The dividends from actively managed funds primarily stem from capital gains rather than stock dividends, allowing fund managers to lock in profits and manage portfolio structure [1][4]. - Analysts suggest that distributing dividends helps investors secure returns and reduces exposure to net asset value fluctuations, especially in a volatile market [4][5]. - The trend of dividend distribution is seen as a response to increasing investor demand for tangible returns, with fund managers using dividends to optimize their holdings and maintain operational scale [5][6]. Group 3: Future Outlook - The trend of dividend distribution is expected to continue expanding among actively managed equity funds, aligning with regulatory shifts towards investor return orientation [6][7]. - As the A-share market recovers, actively managed funds are likely to accumulate sufficient reserves for dividends, catering to investors' preferences for stable cash flows [6]. - The competitive landscape may drive more actively managed funds to adopt dividend strategies, enhancing investor experience and encouraging long-term holding [6][7].