招商基金在指数增强领域厚积薄发，取得较好超额回报，场内交易的中证2000增强ETF近一年超23.36% 的超额收益；招商中证1000指数增强基金成立至今8年多时间，累计超额收益高达114.47%，位居指数 增强基金同期表现前列。 当前，伴随市场回暖，指数化投资迎来高速发展期。作为向上涨场环境下的优质配置工具，指数增强基 金成为投资者捕捉赛道机遇、优化资产组合的重要引擎。 这份可观的业绩离不开招商基金量化团队的深厚底蕴与不懈创新，团队在传统的动量因子之上，引入了 更多基本面分析，兼具主动管理和量化的优势，追求相对于传统量化策略更明确的长期投资回报。 多点开花，过往持续超额回报彰显实力 A股市场企稳反弹，宽基指数普遍上涨。指数增强基金亮眼依旧，其在弱市中控回撤的韧性，与上涨市 中创超额的能力，构成了其相较于被动指数的优势。 指数增强基金是指在跟踪标的指数的基础上，通过量化策略积极获取超额收益，为投资者提供一种既追 求享受市场整体增长回报，又能争取超越市场平均水平的投资途径。指数增强基金不仅能瞄准指数的 Beta收益，还争取通过主动管理收获Alpha收益，在市场回暖的当下受到不少投资者追捧。 招商基金在8年前就前瞻 ...

Core Viewpoint - Multiple fund companies are launching index-enhanced funds linked to major A-share indices, indicating a growing interest in equity market investments amid recent strong performance of these indices [1] Fund Launches - Guotai Junan Fund announced the launch of the Guotai Junan Shanghai Composite Index Enhanced Fund on October 22, with a maximum initial fundraising limit of 8 billion [1] - Anxin Fund announced the launch of the Anxin ChiNext Index Enhanced Fund on October 13 [1] - Invesco Great Wall Fund reported that the Invesco Great Wall Shanghai Stock Exchange Sci-Tech Innovation Board Composite Index Enhanced Fund was established on September 18, raising a total of 1.516 billion [1] Market Performance - The Shanghai Composite Index, ChiNext Index, and Sci-Tech Innovation Index have recently shown strong performance, with all three indices reaching significant intraday highs on September 18 [1] - On September 18, the Shanghai Composite Index approached 3,900 points, the ChiNext Index surpassed 3,160 points, and the Sci-Tech Innovation Index neared 1,700 points [1] Market Outlook - Guotai Junan Fund maintains a long-term optimistic view on the domestic equity market, focusing on investment opportunities in technology and anti-involution sectors, with expectations of significant profit growth in the manufacturing sector [1] - Invesco Great Wall Fund acknowledges the strong performance of the equity market and anticipates potential volatility due to profit-taking after the Federal Reserve's interest rate cuts, but remains optimistic about the medium-term benefits for RMB assets and the strengthening trend of overseas capital inflow [1]

中国经济网北京9月17日讯今日，国金基金发布国金中证全指指数增强型证券投资基金基金合同生效公 告。 募集期间净认购金额1,533,532,308.74元，认购资金在募集期间产生的利息417,800.50元，募集份额合计 1,533,950,109.24份。 基金经理马芳2003年7月至2005年7月在华泰贝通网络科技有限公司担任IT事业部测试工程师，2005年8 月至2015年9月在奥博杰天软件北京有限公司担任软件研发中心证券交易系统自动化测试部经理，2015 年9月至2016年5月在北京海峰科技有限责任公司担任特定估值方案项目部经理，2016年5月19日加入国 金基金管理有限公司，历任量化投资运营中心高级产品经理、副总经理，产品中心副总经理。现任量化 投资事业部副总经理。 | 1.公告基本信息 | | | | | --- | --- | --- | --- | | 基金名称 | 国会中证会指指数增强到正券投资基金 | | | | 基金简称 | 国会中正全指指数增强 | | | | 基金字代码 | 025041 | | | | 基金运作方式 | 频为型开放式 | | | | 基金合同生效日 | 2025年9月 ...

Market Overview - The A-share market saw all major indices rise last week, with the Sci-Tech 50, Small and Medium-sized Enterprises Index, and CSI 500 Index leading with returns of 5.48%, 3.66%, and 3.38% respectively, while the CSI 300, Shanghai Composite, and ChiNext Index lagged with returns of 1.38%, 1.52%, and 2.10% respectively [1][9] - In terms of trading volume, all major indices except the Sci-Tech 50 experienced a decline in trading volume last week [10] - The electronic, real estate, and agriculture sectors performed well, with returns of 5.98%, 5.82%, and 4.52% respectively, while the banking, comprehensive finance, and pharmaceutical sectors underperformed with returns of -0.64%, -0.58%, and -0.28% respectively [1][14] Fund Issuance and Performance - A total of 46 funds were reported last week, a decrease from the previous week, including 3 FOFs and 3 QDIIs [2] - Last week, 40 new funds were established with a total issuance scale of 21.794 billion yuan, which is a decrease from the previous week [3] - The Huashang Hong Kong Stock Connect Value Return Fund completed its fundraising on September 8, raising over 1 billion yuan with a subscription confirmation ratio of 32.95% [5] - The performance of open-end public funds showed that active equity, flexible allocation, and balanced mixed funds had returns of 2.18%, 1.73%, and 0.91% respectively [29][36] Fund Sales and Management - As of last week, there were 243 ordinary FOF funds, 119 target date funds, and 152 target risk funds in the open-end public fund category [35] - The top three fund sales institutions by equity fund holdings were Ant Fund, China Merchants Bank, and Tian Tian Fund, with holdings of 822.9 billion yuan, 492 billion yuan, and 349.6 billion yuan respectively [7] - The target date funds had the best median performance this year, with a cumulative return of 13.94% [36] Bond Market - As of last Friday, the central bank's reverse repo net injection was 196.1 billion yuan, with reverse repos maturing at 1,068.4 billion yuan, resulting in a net open market injection of 1,264.5 billion yuan [17] - The yield on government bonds of different maturities has increased, with credit spreads widening by 3.69 basis points [18][23] Sector Performance - Over the past month, the communication sector has seen the highest cumulative increase of 25.38%, while the comprehensive finance sector has experienced a cumulative decline of 5.53% [14] - Year-to-date, the communication, non-ferrous metals, and electronics sectors have shown high cumulative returns of 63.94%, 60.31%, and 38.03% respectively, while sectors like coal, transportation, and food and beverage have the lowest returns [14][16]

Group 1 - The equity market is showing signs of recovery, with the index-enhanced fund issuance market experiencing renewed highlights [1] - Morgan Asset Management's CSI A500 index-enhanced fund has concluded its fundraising, with preliminary statistics indicating that the fundraising scale has exceeded 2 billion yuan [1] - This fund is poised to become the largest initial fundraising scale for a CSI A500 index-enhanced product since 2025 [1]

Group 1 - The A-share market is experiencing a new round of upward momentum, with the Shanghai Composite Index showing a year-to-date increase of 15.1% as of August 29 [1] - The Guojin CSI All Share Index Enhanced Fund will be launched on September 1, 2025, aiming to provide a comprehensive investment tool that aligns with the characteristics of the CSI All Share Index [1][2] - The CSI All Share Index reflects the overall performance of various market-cap stocks in the A-share market, offering a broader coverage compared to typical broad-based indices [2] Group 2 - The macroeconomic environment is stabilizing, and policy support is increasing, contributing to the overall recovery of the A-share market [2] - The CSI All Share Index is suitable for capturing diverse investment opportunities due to its comprehensive market coverage and ability to adapt to changing market trends [2] - The index's diversified structure is expected to lower decision-making costs and facilitate balanced industry allocation for long-term investors [2] Group 3 - The quantitative strategy employed by the fund aims to achieve excess returns while maintaining a balance with tracking error, maximizing the information ratio [4] - The investment team will utilize advanced technologies such as big data analysis and artificial intelligence to dynamically adjust the investment portfolio according to market conditions [4] Group 4 - The index-enhanced fund segment is experiencing rapid growth, with 180 new funds established in 2023, surpassing the total of 101 funds created in 2024 [5] - The average excess return for 519 index-enhanced funds this year is 3.87%, with 37 funds achieving excess returns greater than 10% [5] - The index-enhanced funds are seen as valuable for investors looking to capture market beta returns while also seeking alpha opportunities during market fluctuations [5] Group 5 - Guojin Fund has a well-established quantitative investment team with a strong background in mathematics and finance, contributing to the success of its quantitative products [6] - The launch of the Guojin CSI All Share Index Enhanced Fund is a significant addition to Guojin Fund's quantitative product line, enhancing investment options for investors [6] - The company plans to continue optimizing investment strategies and models in the quantitative investment field to provide high-quality investment tools [6]

Fund Overview - The fund is named "CICC CSI 800 Index Enhanced Securities Investment Fund" and is classified as an equity fund [14] - The fund's operation method is a contractual open-end structure, with an indefinite duration [14] - The fund's share price is set at RMB 1.00 per share [15] Fund Management and Custody - The fund is managed by CICC Fund Management Co., Ltd., and the custodian is CITIC Bank [14][47] - The registered capital of CICC Fund Management Co., Ltd. is RMB 700 million [47] Fund Offering Details - The fund's public offering period is from August 18, 2025, to September 8, 2025 [20] - The fund is open to individual investors, institutional investors, qualified foreign investors, and other investors permitted by law [16] Subscription Process - The minimum initial subscription amount is RMB 10, including subscription fees, with no upper limit on cumulative subscriptions during the fundraising period [3][27] - Subscription applications can be made through direct sales or designated sales institutions, with specific procedures outlined by each institution [2][19] Subscription Fees - Class A shares will incur a subscription fee, while Class C shares will not [24] - Subscription fees are used for marketing, sales, and registration expenses incurred during the fundraising period [25] Fundraising Conditions - The fund must meet specific conditions, including a total subscription of at least 200 million shares and 200 investors, to proceed with the establishment of the fund [44] - If the fundraising conditions are not met, the fund will be deemed unsuccessful, and the management will return the subscription amounts with interest [45] Investor Information - Investors can inquire about the fund and its offerings through the company's customer service hotline [48] - Detailed information about the fund can be found on the company's official website and the China Securities Regulatory Commission's fund disclosure website [11]

Group 1 - The core viewpoint of the article highlights the expansion of personal pension index funds with several fund companies announcing the addition of Y shares, which are specifically designed for personal pension investments [1][2][10] - Multiple fund companies, including Guotai Junan Asset Management, Boda Fund, Tianhong Fund, and China Merchants Fund, have announced the addition of Y shares to their index-enhanced funds, indicating a growing trend in the market [2][3][4] - The Y share class is exclusively for personal pension funds, with a management fee and custody fee discount of 50%, making it an attractive option for long-term pension investment [6][11] Group 2 - The recent addition of four new index-enhanced funds has increased the total number of personal pension index funds to 89, providing more diverse investment options for individuals [10][11] - Index-enhanced funds are characterized by high transparency, diversified investments, and dual tax benefits, positioning them as significant tools for personal pension investments [11][12] - Fund companies emphasize the adaptability of index-enhanced funds for different age groups, allowing younger investors to pursue long-term growth while providing options for those nearing retirement to manage risk [12]

Core Viewpoint - The expansion of personal pension index funds is underway, with multiple fund companies announcing the addition of Y shares, which are tailored for personal pension investments, enhancing the options available for residents' retirement financial planning [2][9]. Group 1: Expansion of Y Shares - Several fund companies, including Guotai Junan Asset Management, Baodao, Tianhong, and CMB, have announced the addition of Y shares to their index-enhanced funds, marking a significant expansion in personal pension index funds [4][6]. - Y shares are specifically designed for personal pension funds, with the first purchase price being the net asset value of the corresponding A shares on the day of purchase [6]. Group 2: Characteristics of Index Enhanced Funds - The newly added index-enhanced funds are characterized by high transparency, diversified investments, and reduced fees (Y share management and custody fees are 50% of ordinary shares), making them suitable for personal pension investments [11]. - Index-enhanced funds have a clear benchmark index, which provides stable investment styles and transparency, allowing investors to align their pension assets with personal preferences and retirement plans [11][12]. Group 3: Broader Implications for Pension Investment - The introduction of these funds aligns with the nationwide rollout of the personal pension system, which aims to enhance the multi-tiered pension insurance system in China [12]. - The ongoing expansion of personal pension products signifies a positive exploration of developing the pension industry and financial services, aiming to provide more diverse and comprehensive investment options for investors [12].

Group 1: Market Trends and Fund Performance - The index-enhanced funds have seen significant growth, with total assets surpassing 230 billion yuan and an increase of over 20 billion yuan in the current year [1] - Quantitative index-enhanced funds have achieved an average excess return of 3.21%, with some funds outperforming their benchmarks by over 10% [1] - The CSI A500 index, which is more scientifically compiled than traditional broad-based indices, covers 54.34% of total market capitalization and nearly 68% of net profits with less than 10% of the A-share market's total number of stocks [2] Group 2: Fund Strategy and Management - The Invesco Great Wall CSI A500 Index Enhanced Fund will utilize a combination of traditional quantitative models and AI-driven strategies to achieve higher excess returns while managing risk [3] - The fund's quantitative team has successfully integrated AI for data processing, price prediction, and market sentiment analysis, enhancing the model's adaptability to market conditions [3] - The fund manager highlighted the index's focus on industry leaders and broad coverage of various sectors, providing ample opportunities for alpha generation [2] Group 3: Recent Performance and Product Offerings - The Invesco Great Wall's products have shown impressive performance, with the Growth Enterprise Market Index Enhanced Fund achieving a net value growth rate of 22.29% since the introduction of AI strategies [4] - The company has developed a range of specialized products, including those focused on "hard technology" and small-cap opportunities, catering to investor demand for innovative investment options [4] - The launch of the Invesco Great Wall CSI A500 Index Enhanced Fund offers investors another tool for accessing China's core assets [4]