基金周报：8家公募自购旗下新模式浮动费率基金，全市场规模最大的权益ETF布分红-20250615

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - Last week, the performance of major broad - based indices in the A - share market was divergent. The ChiNext Index, Shanghai Composite Index, and CSI 300 Index had relatively high returns of 0.22%, - 0.25%, and - 0.25% respectively, while the STAR 50, CSI 1000, and SME Board Index had relatively low returns of - 1.89%, - 0.76%, and - 0.65% respectively [1]. - In terms of trading volume, the trading volume of major broad - based indices increased last week. In the industrial sector, non - ferrous metals, petroleum and petrochemicals, and pharmaceuticals had the highest returns of 3.95%, 3.31%, and 1.54% respectively, while food and beverages, computers, and building materials had the lowest returns of - 4.42%, - 2.25%, and - 2.16% respectively [1][20]. - As of last Friday, the central bank had a net reverse - repurchase fund withdrawal of 72.7 billion yuan, with reverse - repurchase maturities of 930.9 billion yuan and a net open - market injection of 858.2 billion yuan. The yields of government bonds with different maturities declined, and the yield spread narrowed by 0.07 BP [1]. - This year, alternative funds have had the best performance, with a median return of 12.15%. The median returns of active equity, flexible allocation, and balanced hybrid funds are 3.23%, 1.15%, and 0.41% respectively [2]. - As of last weekend, there were 240 ordinary FOF funds, 119 target - date funds, and 154 target - risk funds among open - end public funds. This year, target - date funds have had the best median performance, with a cumulative return of 2.81% [3]. 3. Summary According to the Directory 3.1 Market Review 3.1.1 Fund Declaration and Distribution Dynamics - Last week, 24 funds were declared, a decrease from the previous week. The declared products included 2 FOFs, such as the Harvest Hang Seng Consumption ETF, Penghua China Securities Hong Kong Stock Connect Innovation Pharmaceutical ETF, etc. [2][9] - On June 11, Huatai - PineBridge Fund announced that the Huatai - PineBridge CSI 300 ETF would implement a cash dividend. The dividend plan is 0.880 yuan per 10 fund shares. If there are no significant changes in the product shares before the ex - dividend date, the total dividend may exceed 8 billion yuan [10]. - As of June 15, 7 public funds have self - purchased their newly issued floating - rate funds, with a total self - purchase amount of 110 million yuan [11] 3.1.2 Stock Market - Last week, the performance of major broad - based indices in the A - share market was divergent. The ChiNext Index, Shanghai Composite Index, and CSI 300 Index had relatively high returns, while the STAR 50, CSI 1000, and SME Board Index had relatively low returns. In the past month, the CSI 1000 Index had the highest return of 0.81%, and the STAR 50 Index had the lowest return of - 2.80%. Since the beginning of the year, the CSI 1000 Index has had the highest cumulative return of 2.49% [14] - In terms of trading volume, the trading volume of major broad - based indices increased last week. On a monthly basis, except for the Shenzhen Component Index, ChiNext Index, CSI 500, and CSI 1000, the average daily trading volume of major broad - based indices increased in the past month [17][18] - In the industry, non - ferrous metals, petroleum and petrochemicals, and pharmaceuticals had the highest returns last week, while food and beverages, computers, and building materials had the lowest returns. In the past month, the pharmaceutical industry had the highest cumulative return of 7.72%, and the food and beverage industry had the lowest cumulative return of - 8.34%. Since the beginning of the year, non - ferrous metals, comprehensive finance, and banks have had relatively high cumulative returns [20] 3.1.3 Bond Market - As of last Friday, the central bank had a net reverse - repurchase fund withdrawal of 72.7 billion yuan, with reverse - repurchase maturities of 930.9 billion yuan and a net open - market injection of 858.2 billion yuan. The 7D pledged repurchase rate increased by 2.97 BP compared to the previous week, and the 2W SHIBOR decreased by 4.50 BP [24] - The yields of government bonds with different maturities declined, and the yield spread narrowed by 0.07 BP. The yields of credit bonds with different ratings for 5 - year, 7 - year, and 10 - year maturities also declined [25] 3.1.4 Convertible Bond Market - Last week, the CSI Convertible Bond Index fell 0.02%, with a cumulative trading volume of 346.5 billion yuan, an increase of 90.2 billion yuan from the previous week. As of last Friday, the median conversion premium rate of the convertible bond market was 30.36%, an increase of 0.92% from the previous week, and the median pure bond premium rate was 14.94%, a decrease of 0.89% from the previous week [27] 3.2 Open - end Public Fund Performance 3.2.1 Ordinary Public Funds - Last week, the returns of active equity, flexible allocation, and balanced hybrid funds were 0.07%, 0.02%, and - 0.28% respectively. This year, alternative funds have had the best performance, with a median return of 12.15%. The median returns of active equity, flexible allocation, and balanced hybrid funds are 3.23%, 1.15%, and 0.41% respectively [29][30] 3.2.2 Quantitative Public Funds - Last week, the median excess return of index - enhanced funds was 0.23%, and the median return of quantitative hedging funds was - 0.06%. This year, the median excess return of index - enhanced funds is 2.38%, and the median return of quantitative hedging funds is 0.87% [31] 3.2.3 FOF Funds - As of last weekend, there were 240 ordinary FOF funds, 119 target - date funds, and 154 target - risk funds among open - end public funds. Last week, 1 new FOF fund was established. In general, target - date funds have a higher equity position, mainly distributed in the 50% - 65% range. Most target - risk funds have an equity position of less than 50%, and the equity positions of ordinary FOF funds are mainly distributed in the ranges of less than 25% and 65% - 100% [34] - Last week, the median returns of ordinary FOF, target - date, and target - risk funds were 0.40%, 0.64%, and 0.37% respectively. This year, target - date funds have had the best median performance, with a cumulative return of 2.81% [34] 3.3 Fund Manager Changes - Last week, the fund manager situations of 46 fund products of 28 fund companies changed, including 4 products of Huaan Fund, 4 products of Chunhou Fund, and 4 products of China Merchants Fund [37] 3.4 Fund Product Issuance 3.4.1 Newly Established Funds Last Week - Last week, 16 new funds were established, with a total issuance scale of 8.934 billion yuan, a decrease from the previous week. Among them, equity funds were issued at 1.155 billion yuan, hybrid funds at 0.127 billion yuan, and bond funds at 7.653 billion yuan. There were no new issuances of alternative funds and money funds [39] - The types of newly established funds with a relatively large number were partial - equity hybrid (6) and passive index (4), with issuance scales of 0.606 billion yuan and 0.549 billion yuan respectively [40] 3.4.2 Funds Launched for the First Time Last Week - Last week, 34 funds entered the issuance stage for the first time, among which the AVIC Smart Selection Leading A has completed issuance and been established [43] 3.4.3 Funds to be Issued This Week - This week, 17 funds will enter the issuance stage, including 10 passive index funds, 2 enhanced index funds, and 2 passive index bond funds [45]