2025年养老目标基金表现分化：15只收益率超30%，21只产品清盘

Group 1 - The overall performance of pension target funds in 2025 showed positive returns, with all products achieving annual positive returns, and 15 funds exceeding a 30% return rate [1][2] - More than half of the pension target funds achieved over 10% annual returns, while over 30 funds had annual returns below 5%, primarily conservative products with low equity positions [2] - Some previously loss-making pension target funds have recovered, with net values returning above 1 yuan, and three-year performance turning profitable [2] Group 2 - In 2025, only 11 new pension target funds were established, with a total cumulative scale of less than 4 billion yuan, and 7 of these had a scale below 200 million yuan [3] - A total of 21 pension target funds were liquidated in 2025, including 5 Y-share funds, primarily due to failing to meet the 200 million yuan survival threshold [4]