Core Viewpoint - The AI Fund, Shangyin State-Owned Enterprise Dividend Mixed Initiation A (020186), reported a profit of 536,300 yuan for Q4 2025, with a net asset value growth rate of 3.6% during the reporting period [3]. Fund Performance - The fund's scale reached 14.42 million yuan by the end of Q4 2025 [3][13]. - As of January 22, the unit net value was 1.094 yuan, with a one-year cumulative net value growth rate of 8.97%, ranking 643 out of 673 comparable funds [3]. - The fund's performance over the last three months showed a net value growth rate of -0.31%, ranking 631 out of 689 comparable funds, and a six-month growth rate of -2.56%, ranking 672 out of 689 [3]. Investment Strategy - The fund focuses on high dividend and low valuation strategies, primarily investing in state-owned enterprises with solid operational foundations and significant dividend capabilities [3]. - Key sectors of interest include banking, transportation, non-bank financials, environmental protection, and public utilities, which are characterized by stable cash flows and sustainable profitability [3]. Risk Metrics - The fund's Sharpe ratio since inception is 0.5616, indicating a moderate risk-adjusted return [7]. - The maximum drawdown since inception is 8.58%, with the largest quarterly drawdown occurring in Q3 2025 at 7.26% [9]. Portfolio Composition - The average stock position since inception is 86.73%, compared to the industry average of 84.04%. The fund reached a peak stock position of 93.31% at the end of Q3 2025 and a low of 70.76% at the end of H1 2024 [12]. - The top ten holdings as of Q4 2025 include China Pacific Insurance, China Shenhua Energy, Shandong High-Speed, Jiangsu Ninghu Highway, Poly Property, Jiantou Energy, Industrial Bank, Yangtze Power, China Construction Bank, and Hanlan Environment [16].
上银国企红利混合发起式A：2025年第四季度利润53.63万元 净值增长率3.6%
Sou Hu Cai Jing·2026-01-23 10:37