兴证资管国企红利优选混合发起式A：2025年第四季度利润73.2万元 净值增长率3.03%

Core Insights - The AI Fund Xingzheng Asset Management State-Owned Enterprise Dividend Preferred Mixed Initiation A (023169) reported a profit of 732,000 yuan for Q4 2025, with a weighted average profit per fund share of 0.0321 yuan [3] - The fund's net value growth rate for the reporting period was 3.03%, and as of the end of Q4, the fund size was 24.5893 million yuan [3] - The fund manager, Liu Yi, indicated that the investment portfolio primarily consists of stocks from the benchmark index, the China State-Owned Enterprise Dividend Index, aiming to align with the product performance benchmark [3] Fund Performance - As of January 22, the unit net value was 1.082 yuan [3] - Over the past three months, the fund's cumulative net value growth rate was -0.52%, ranking 638 out of 689 comparable funds; over the past six months, it was -1.01%, ranking 667 out of 689; and over the past year, it was 8.24%, ranking 647 out of 673 [3] - The fund's Sharpe ratio since inception was 0.1459 as of December 31 [4] Risk Metrics - The maximum drawdown since inception was 4.96%, occurring in Q4 2025 [7] - The fund's average stock position since inception was 79.26%, compared to the peer average of 84.04% [11] - The fund reached its highest stock position of 91.75% at the end of Q3 2025 and its lowest of 60% at the end of Q1 2025 [11] Holdings - As of the end of Q4 2025, the fund's top ten holdings included China COSCO Shipping, Agricultural Bank of China, Bank of China, Nanjing Steel, Shaanxi Coal and Chemical Industry, Yanzhou Coal Mining, China Shenhua Energy, China Construction Bank, Western Mining, and Nanjing Bank [15]