Goldman Sachs(US:GS) Wind万得·2025-09-06 22:28Group 1 - The issuance of actively managed equity funds has increased, with some products raising over 5 billion yuan in a single day. The recent performance recovery of the A-share market has contributed to this trend, with the newly launched招商均衡优选混合基金 expected to become the largest actively managed equity fund of the year with a fundraising cap of 50 billion yuan [2][3] - Four tax exemption policies have been introduced to enhance the social security fund, effective from April 1, 2024. These include exemptions on VAT for interest income from loans, non-taxable income from the transfer of state-owned equity, and exemptions on stamp duty for the transfer of non-listed state-owned equity [2][3] Group 2 - In the first half of 2025, 28 public fund companies reported their performance, with 易方达基金 leading with a net profit of 1.877 billion yuan. A total of 8 companies reported revenues exceeding 1 billion yuan, and 11 companies reported net profits over 100 million yuan [3][4] - The management fee income of the public fund industry grew by 1.37% year-on-year, totaling 62.313 billion yuan, although it decreased by 89.92 billion yuan compared to the same period before the fee rate reform in July 2023 [4] Group 3 - South Korea plans to establish a 1 trillion won (approximately 716 million USD) fund to support key industries affected by US tariffs, with over 60% of the funds allocated to the automotive, petrochemical, and steel manufacturing sectors [5] - Hedge funds are adopting a cautious stance as September historically poses challenges for the US stock market, with the Dow Jones average declining by 1.1% in September [5] Group 4 - Recent global stock market performance has been mixed, with the Hang Seng Index rising by 1.36%, while the Shanghai Composite Index and Shenzhen Component Index fell by 1.18% and 0.83%, respectively [6] - In the bond market, the yield on 1-year Chinese government bonds rose by 2.61 basis points, while the yields on 5-year and 10-year bonds fell by 2.01 and 1.19 basis points, respectively [6][9] Group 5 - In the recent week, the issuance of bank wealth management products was dominated by fixed-income products, with 301 fixed-income plus products accounting for 49.10% of the total number and 369.97 billion yuan, or 58.78%, of the total scale [12][13] - Bank wealth management subsidiaries led the market with 456 new products, representing 74.39% of the total number and 607.86 billion yuan, or 96.57%, of the total scale [14][15] Group 6 - Recent employment data from the US Labor Department indicated that only 22,000 jobs were added in August, significantly below the expected 70,000, with the unemployment rate rising to 4.3%, the highest since 2021. This has strengthened the market's expectation for a potential interest rate cut by the Federal Reserve [18] - Gold prices surged, breaking the 3,600 USD per ounce mark, driven by expectations of monetary easing and safe-haven demand, with forecasts suggesting gold could reach 4,000 USD per ounce by mid-2026 [18][19][20]