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“亏30%稳如泰山,涨1%坐立难安”,曾被深套的基民如今陷入更深纠结
第一财经·2025-08-20 15:10

Core Viewpoint - The article highlights the psychological struggle of investors in the current A-share market, where many are torn between the fear of missing out on potential gains and the anxiety of losing their recently gained profits as the market rebounds [4][10]. Group 1: Investor Sentiment - Investors like Xiao Hu, who have been in a prolonged state of loss, are experiencing a shift in mindset as their funds begin to recover, leading to increased anxiety about whether to redeem their investments or hold on for further gains [6][10]. - The recent market recovery has seen over 1,450 active equity funds achieve returns exceeding 50%, with 166 funds doubling their performance, which has intensified the emotional turmoil among investors [7][8]. - The phenomenon of "loss aversion" is prevalent, where investors feel the pain of losses more acutely than the joy of equivalent gains, prompting them to lock in profits as soon as they break even [11]. Group 2: Market Dynamics - As of August 19, nearly 1,300 funds have seen their net asset values rise above 1 yuan, a significant recovery from the previous year when over half of the funds were below this threshold [8]. - The market has witnessed a structural shift, with a notable increase in redemption requests as investors opt to "cash out" amidst the recovery, while new investors are more inclined to diversify their investments rather than concentrate on single products [13][14]. - Despite the redemption pressures, many equity funds are still experiencing net inflows, indicating a complex market environment where investor confidence is gradually rebuilding [14][15]. Group 3: Fund Management Strategies - Fund managers are advised to respect investor decisions regarding redemptions and focus on providing tailored product solutions that align with current market conditions and investor needs [12][15]. - The shift in focus from merely preventing redemptions to enhancing service for remaining clients is emphasized, suggesting that fund companies should offer customized investment strategies to cater to varying risk appetites and financial goals [15].