中国经济网北京1月8日讯 （记者 康博） 根据同花顺数据显示，在2025年12月份有可比业绩的7485 只（各份额分开计算，下同）债券型基金中，业绩上涨的共有6160只，占比82%，另有1221只下跌， 104只持平。 南方昌元可转债债券A、南方昌元可转债债券B、南方昌元可转债债券C以7.85%、7.85%、7.80%的 单月涨幅位居榜首。2025年三季报显示，南方昌元可转债持有的债券资产占81.90%，股票资产占 16.21%。前五大债券均为转债，分别为隆22转债、国投转债、温氏转债、烽火转债、睿创转债；前十 大重仓股为兆易创新、杰华特、广东宏大、寒武纪、航天电子、中科飞测、新雷能、新大陆、德赛西 威、虹软科技。 该基金由累计管理经验10年的老将刘文良管理。资料显示，刘文良2012年7月加入南方基金，历任 固定收益部转债研究员、宏观研究员、信用分析师。2015年2月26日至2015年8月20日任经理助理，2015 年12月至今任基金经理。 2025年12月债券型基金涨跌幅前100名 2025年三季报显示，先锋博盈纯债主要持有国债和企业债，前五大重仓债券为25附息国债09、24附 息国债11、25超长特别国债 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 基金管理人：东海基金管理有限责任公司 基金托管人：交通银行股份有限公司 重要提示 1、东海增裕债券型发起式证券投资基金（以下简称"本基金"）的募集已获中国证券监督管理委员会 （以下简称"中国证监会"）证监许可【2025】2565号文予以注册。 中国证监会对本基金募集的注册，并不表明其对本基金的价值和收益做出实质性判断或保证，也不表明 投资于本基金没有风险。中国证监会不对基金的投资价值及市场前景等作出实质性判断或者保证。 2、本基金为契约型开放式、债券型证券投资基金。 3、本基金的基金管理人和注册登记机构为东海基金管理有限责任公司（以下简称"本公司"），基金托 管人为交通银行股份有限公司（以下简称"交通银行"）。 4、本基金自2026年1月6日起至2026年4月3日止通过基金管理人指的销售机构公开发售。本基金的募集 期限不超过3个月，自基金份额开始发售之日起计算。本公司也可根据基金销售情况在募集期限内适当 缩短或延长基金发售时间，并及时公告。 5、本基金为发起式基金，本基金的最低募集份额总额为1,000万份，基金募集金额不少于1,000万元人民 币，其中使用基金 ...

Core Points - The fund "Guotai Lixiang Xinyi 90-Day Holding Period Bond Fund" has been approved for registration by the China Securities Regulatory Commission (CSRC) [1] - The fund is a bond-type open-ended fund with a minimum holding period of 90 days, during which investors cannot redeem or transfer their shares [1][16] - The fund will be publicly offered from December 8, 2025, to December 19, 2025, with a maximum fundraising period of three months [3][21] Fund Structure - The fund is managed by Guotai Fund Management Co., Ltd., with the custodian being Industrial Bank Co., Ltd. [1][55] - The fund has two classes of shares: Class A and Class C, with specific codes assigned for each [15][16] - The minimum total fundraising amount for the fund is set at 200 million shares [17] Investment and Subscription Details - The fund is open to individual investors, institutional investors, qualified foreign investors, and other investors permitted by law [2][19] - The maximum subscription amount for a single investor per day is capped at 10 million yuan, with specific exceptions [2][20] - Investors can subscribe multiple times during the fundraising period, and the minimum subscription amount is 1 yuan [10][34] Sales and Distribution - The fund will be sold through designated sales institutions, including direct sales by the fund management company and other sales agencies [3][21] - Investors must open a fund account with Guotai Fund Management Co., Ltd. before subscribing, and the subscription application must be confirmed after account opening [10][34] - The fund's subscription fee for Class A shares will be calculated separately for each application, while Class C shares do not incur a subscription fee [22][23] Fund Management and Operations - The fund's assets will be managed in accordance with principles of diligence, honesty, and prudence, but there is no guarantee of profit [12][55] - The fund's net asset value may fluctuate due to market conditions, and investors should be aware of the inherent risks associated with fund investments [11][12] - The fund will undergo a verification process by a legal verification agency after the fundraising period ends, and the fund contract will take effect upon CSRC confirmation [51][52]

Core Viewpoint - The public fund issuance market experienced a "small spring" in November, with a total new fund scale reaching 96.616 billion yuan, indicating strong investor enthusiasm for subscriptions [1][5]. Fund Issuance Overview - A total of 136 new funds were established in November, showcasing a positive trend in both volume and price, driven by increased year-end capital allocation needs [1][7]. - The top fund by issuance scale was E Fund's E Fund Ruiyi Ying'an 6-Month Holding A, with 5.848 billion yuan, followed by Great Wall Fund's Great Wall Yuanli A at 5.251 billion yuan [1][3]. Fund Types and Performance - Equity funds (stock and mixed types) remained the main force in the market, with stock fund issuance reaching 30.669 billion yuan, accounting for 32.43% of the total scale [5]. - Mixed funds followed with an issuance scale of 23.999 billion yuan, making the total for equity funds 54.669 billion yuan, which constituted 57.81% of the total issuance [5]. Popular Fund Products - Notable high-raising products included mixed equity funds like Fu Guo Xing He A (3 billion yuan) and Peng Hua Qi Hang Quantitative Stock Selection (2.982 billion yuan) [5]. - Passive index funds also gained traction, covering various sectors, with notable products like Wan Jia Zhong Zheng 800 Dividend Low Volatility Index A raising 1.723 billion yuan [5]. International Market Interest - Funds targeting overseas emerging markets, particularly two ETFs focused on Brazil, attracted significant interest, raising a total of 3 billion yuan, exceeding their initial fundraising cap by over seven times [6]. Stability and Growth in Fund Types - Bond funds raised 21.666 billion yuan, accounting for 22.91% of the issuance market, serving as an important stabilizer [6]. - Fund of Funds (FOF) also performed well, with an issuance scale of 16.975 billion yuan, reflecting investor preference for professional fund selection and risk diversification [6]. Market Sentiment and Future Outlook - Analysts noted that the concentration of fund establishment dates in November allowed new products to meet year-end capital allocation needs, indicating that public funds continue to attract incremental capital into the market [7][8]. - The issuance volume approaching 100 billion yuan is seen as a positive signal for market confidence and structural optimization for the upcoming year [7][8].

Group 1 - The core point of the article is the launch of the "Ping An Tian Yuan 6-Month Holding Period Bond Fund," which has been registered with the China Securities Regulatory Commission (CSRC) and is set to be publicly offered from November 24, 2025, to December 5, 2025 [1][3][24] - The fund is categorized as a bond-type securities investment fund and operates as a contractual open-end fund, with a minimum holding period of 6 months for each fund share [2][20] - The fund aims to achieve long-term stable appreciation of assets while maintaining good liquidity through proactive investment management [20] Group 2 - The maximum fundraising limit for the fund is set at 5 billion RMB, and if the total subscription amount approaches this limit, the fund manager will implement a "last day proportion confirmation" method to control the scale effectively [4][25] - The fund will be available for subscription to individual investors, institutional investors, qualified foreign investors, and other investors permitted by laws and regulations [3][21] - The fund's subscription process includes specific requirements for both individual and institutional investors, including the need to open a fund account and submit various documentation [34][48] Group 3 - The fund will have two classes of shares: Class A, which charges a subscription fee, and Class C, which does not charge a subscription fee but deducts a service fee from the fund's net asset value [27][29] - Investors can subscribe multiple times during the fundraising period, but once a subscription application is accepted, it cannot be withdrawn [10][11] - The fund manager reserves the right to adjust the fundraising period and conditions based on market conditions and subscription status [16][19]

Fund Overview - The fund is named Morgan Stanley China Government Bond Index Fund (1-5 Years) and is categorized as a bond-type open-ended fund [12] - The fund's initial share value is set at RMB 1.00, with no upper limit on the fundraising scale [12][16] - The fundraising period is from November 17, 2025, to January 15, 2026, with the possibility of adjustments based on subscription conditions [16] Subscription Details - The minimum initial subscription amount is RMB 10, and additional subscriptions must also be at least RMB 10 [25][41] - Investors can subscribe through designated sales institutions, and the fund management company may add new sales institutions during the fundraising period [5][12] - The fund offers two classes of shares: Class A, which incurs subscription fees, and Class C, which does not charge subscription fees but deducts service fees from the fund's assets after the contract takes effect [19][20] Investor Eligibility - The fund is open to individual investors, institutional investors, qualified foreign investors, and other investors permitted by laws and regulations [12][16] - Investors must ensure that their funds for subscription are legally sourced and free from any legal or contractual restrictions [3][8] Fund Management and Custody - The fund is managed by Morgan Stanley Fund Management (China) Co., Ltd., and the custodian is Nanjing Bank Co., Ltd. [12][50] - The fund management company is responsible for the overall management and operation of the fund assets [50] Fund Operation and Risk Management - The fund primarily invests in policy financial bonds, which may involve credit risks and liquidity risks associated with policy banks [8] - The fund's net asset value may fluctuate due to market conditions, and investors should be aware of the inherent risks of investing in securities [8][9] Fund Registration and Compliance - The fund's registration has been approved by the China Securities Regulatory Commission (CSRC), but this does not guarantee the fund's investment value or market prospects [1][12] - The fund's contract will take effect once it meets the regulatory requirements, including a minimum of 200 investors and a total subscription amount of at least RMB 20 million [16][49]

Core Insights - In the first ten months of the year, 92% of the 6,758 comparable bond funds reported positive performance, with 6,221 funds increasing in value [1] - The top three performing funds were Southern Changyuan Convertible Bond A, Southern Changyuan Convertible Bond C, and Huaxia Convertible Bond Enhanced A, with increases of 39.23%, 38.65%, and 30.30% respectively [1] - The overall performance of bond funds has been strong, with only seven funds experiencing a decline of over 3% [4] Fund Performance - Southern Changyuan Convertible Bond A and C had significant holdings in convertible bonds, with 81.90% and 16.21% in stocks, respectively [1] - Huaxia Convertible Bond Enhanced, managed by He Jiaqi, has a focus on technology stocks, benefiting from the sector's growth [2] - Penghua Convertible Bond A, managed by Wang Shiqian, also showed strong performance with a 29.97% increase, focusing on convertible bonds and high-performing stocks [3] Manager Experience - Liu Wenliang, the manager of Southern Changyuan Convertible Bond, has over 10 years of experience in the industry [1] - He Jiaqi, managing Huaxia Convertible Bond Enhanced, has over 9 years of experience [2] - Wang Shiqian, managing Penghua Convertible Bond A, has more than 7 years of experience [3] Declining Funds - The funds with the largest declines were primarily long-term pure bond funds, with the largest drop being 3.65% for Minsheng Jia Yin Rui Xia One-Year Open Bond [4] - Other declining funds included Shanzheng Zichan Yuli and Hongta Hongtu Shengxing, with declines ranging from 2.44% to 2.95% [4]

Core Insights - In October, 6837 out of 7419 comparable bond funds achieved positive performance, representing 92% of the total [1] - The top-performing fund, ICBC Convertible Bond Fund, recorded a return of 4.15%, the only fund to exceed 4% in October [1] - The fund's asset allocation includes 61% in bonds, with 80% of that in convertible bonds, and 37% in equities, primarily in undervalued airline and brokerage stocks [1] Fund Performance - ICBC Balanced Return 6-Month Holding Period Bond A and C rose by 3.61% and 3.59% respectively in October, with major holdings in government and financial bonds [2] - Other notable performers include CITIC Prudential Stable Bond C (3.66%), CITIC Prudential Stable Bond A (3.65%), and several others with returns ranging from 2.72% to 2.90% [2] - Conversely, 11 bond funds experienced declines exceeding 3%, with Jin Ying Yuan Feng Bond A and C falling by 3.45% and 3.48% respectively [2] Asset Allocation - Jin Ying Yuan Feng's bond assets account for nearly 80%, primarily in convertible bonds, with top holdings in various convertible bonds and stocks in technology and data sectors [3] - Other funds like Zhonghai Convertible Bond A and Dongfang Convertible Bond C also reported declines, with losses around 2.84% to 2.87% [3] Fund Management - The current manager of ICBC Convertible Bond Fund, Huang Shiyuan, has been with the firm since 2013 and has been managing the fund since September 2021 [1] - The management team for Dongfang Convertible Bond includes experienced professionals with backgrounds in fixed income research and investment management [3]

Core Points - The Huazhong Fengtai Bond Fund has been approved for registration by the China Securities Regulatory Commission (CSRC) and is classified as a bond-type securities investment fund [1][2] - The fund will be publicly offered from November 11 to November 21, 2025, with a maximum fundraising limit of 5 billion RMB [1][2][24] - The fund aims to achieve long-term stable appreciation of assets while strictly controlling risks [19][20] Fund Offering Details - The fund's initial offering price is set at 1.00 RMB per share, with a minimum total fundraising amount of 200 million shares [14][15] - If the total effective subscription amount exceeds 5 billion RMB during the fundraising period, the fund will implement a proportionate allocation for subscriptions [15][16] - Investors can subscribe multiple times during the fundraising period, but once accepted, subscription applications cannot be revoked [5][27] Subscription and Investment Limits - Individual investors can subscribe with a minimum of 1 RMB through distribution agencies, while direct subscription requires a minimum of 100,000 RMB [3][27] - A single investor's daily subscription amount is capped at 10 million RMB, with exceptions for certain investor types [23][27] - If a single investor's total subscription reaches or exceeds 50% of the total fund shares, the fund manager may impose restrictions on that investor's subscription applications [9][27] Fund Management and Operations - The fund is managed by Huazhong Fund Management Co., Ltd., with the custodian being Shanghai Pudong Development Bank [1][2] - The fund's assets will not be limited by the initial fundraising scale once the fund contract becomes effective [3][19] - The fund's investment scope includes various financial instruments, with at least 80% of assets allocated to bonds [20][21] Investor Information and Procedures - Investors must open a fund account to participate in the subscription, and only one account is allowed per investor [4][34] - The fund's sales institutions include direct sales and various distribution agencies, with specific procedures for account opening and subscription [2][33] - Investors are advised to read the fund contract and prospectus to understand the risk-return characteristics before investing [11][12]

Group 1 - The core point of the article is that 29 new funds were launched for subscription this week, with equity funds remaining the dominant type [1][4] - A total of 29 new funds were issued this week, with 26 of them launched on Monday, accounting for nearly 90% of the total [2][3] - The average subscription period for the new funds this week was 28.79 days, which is significantly longer than previous periods, likely due to recent market adjustments [3] Group 2 - Among the new funds, 24 were equity funds, making up over 80% of the total, with 11 being index funds and 4 enhanced index funds [4] - There were 8 actively managed equity funds, all of which were mixed funds, with 7 being high-equity mixed funds [5] - Only 3 bond funds were launched this week, indicating a slowdown in bond fund issuance due to recent market adjustments [5] Group 3 - The new funds included 2 mixed FOFs, both of which are characterized by a conservative investment style [6] - The longest subscription period among the new funds was 3 months, while the shortest was 5 days for two passive index funds [2][3] - The fundraising targets for the new funds varied, with 3 funds aiming for 8 billion units and the lowest target set at 500 million units [3]