三位嘉宾在圆桌尾声都表示，高校基金规模正在扩大，需从过去的直接投资转向加强对外合作、共享资 源；在投资品种上从单一资产投资走向多元配置；在投资策略上从经验判断升级至体系化决策，高校基 金会正在提升专业管理能力，将投资和捐赠形成一个良性循环。 在"多资产投资机遇展望"圆桌讨论中，睿郡资产管理合伙人董承非、广发基金副总经理王海涛、兴银理 财创新业务部总经理叶予璋、宁泉资产投资经理曾铭伟等嘉宾认为，多资产配置是应对高波动市场的有 效方式。 董承非表示，投资组合的波动是他在投资中一直高度关注的，在投资中也通过控制仓位、衍生品工具等 平滑波动。叶予璋强调战略配置需基于风险预算与夏普比优化，曾铭伟则以可转债为例，展示"向下有 保护、向上有空间"的资产选择逻辑。针对当前A股市场，王海涛则认为价值与成长并非对立，可寻找 兼具多重优势的"学霸型"资产。 兴证全球基金党委书记、副总经理陈锦泉在致辞中聚焦高校基金会与资产管理机构的价值共创。他指 出，高校基金会承托着社会各界的善意，也肩负着推动教育进步、科研创新乃至社会发展的远大使命。 实现资产的保值增值，放大其社会价值，是对这些"善意资本"的必然要求。他介绍到，兴证全球基金与 多 ...

资讯汇总 [table_Header]2025.09.23 【ESG 投资周报】本月新发 8 只 ESG 基金，流动性环比宽松 产业研究中心 摘要： | [Table_Authors] | | | --- | --- | | | 赵子健(分析师) | | | 021-38032292 | | | zhaozijian@gtht.com | | 登记编号 | S0880520060003 | | | 王佳(分析师) | | | 010-83939781 | | | wangjia7@gtht.com | | 登记编号 | S0880524010001 | | | 蔡晨(分析师) | | | 021-38031023 | | | caichen@gtht.com | | 登记编号 | S0880525080002 | [Table_Report] 往期回顾 【行业 ESG 周报】《〈企业可持续披露准则——基 本准则（试行）〉应用指南》发布，六部门部署开 展汽车行业网络乱象专项整治行动 2025.09.17 【ESG 投资周报】本月新发 4 只 ESG 基金，流动 性环比收窄 2025.09.17 【双碳周报】全国 ...

在关于高校基金会投资管理的讨论中，嘉宾们谈到了其长期性、低风险偏好和流动性约束等特点。广发 基金副总经理王海涛提出ESG可帮助规避非财务风险；兴银理财创新业务部总经理叶予璋认为银行理财 相对稳健的风格特征与高校资金需求有很多契合之处；宁泉资产投资经理曾铭伟则强调红利资产在低利 率环境下的配置价值。 转自：新华财经 兴银理财党委委员、总裁助理贺轶说，ESG投资作为推动经济、环境与社会协调发展的重要力量，不仅 是一种投资理念的创新，更是对人类未来发展模式的深刻思考与积极探索。兴银理财始终高度关注并积 极参与ESG投资市场，公司在成立之初便将ESG理财产品作为三大特色产品之一，目前不仅在固收领域 构建起全方位、多层次的ESG产品体系，还积极创设多资产多策略、权益类产品，不断丰富ESG产品货 架。 9月22日，由兴证全球基金、兴银理财与复旦大学管理学院联合主办的"投资·向善"复旦管院·兴动ESG大 讲堂暨高校基金会慈善资产管理研讨会圆满落幕。本次论坛汇聚资产管理行业领袖、高校基金会负责 人，围绕ESG投资、高校基金会资产管理、大类资产配置等热点议题展开深度研讨，跨界共话"向善"投 资的力量与可能。 复旦管院·兴动ES ...

核心观点 基于样本分析，外资目前在 A 股和 H 股的反对票重点落在公司治理和中小股东权利 保护上。从反对理由来看，外资通常从"不符合少数股东权利、信息披露不充分、缺 乏独立性、赋予董事会过多自由裁量权"等角度出发。部分外资已开始在 A 股上市公 司的董事选举提案中加入对气候风险、毁林风险等环境因素的考量。 ❑ 贝莱德：整体反对率较高，聚焦董事会治理 样本名单中的 25 家贝莱德重仓股，有 18 家在今年投票季被贝莱德投下过反对票， 另有 1 家在 2024 年投票季被其投下过反对票，共 19 家收到反对票，上市公司整 体反对率 76%。上述 19 家收到反对票的上市公司共计有 49 项提案遭到贝莱德的 反对，涉及 14 类议题。反对数排名前三的议题为：股票发行、关联交易和董监高 薪酬，分别有 15、9 和 7 项。从反对理由来看，我们归纳为六大类：信息披露不 充分、赋予董事会过多自由裁量权、潜在风险、不符合股东最佳经济利益、缺乏 独立性和削弱股东权利。 ❑ 富达：提案类型较集中，反对理由更多样 样本名单中的 14 家富达重仓股，有 6 家在今年投票季被富达投下过反对票，上市 公司整体反对率为 43%。上述 ...

Core Viewpoint - The equity market has shown strong recovery over the past year, with equity-based financial products performing well, particularly the "Tiangong" series from Huaxia Wealth Management, which has significantly increased in net value [1] Group 1: Product and Service Development - Huaxia Wealth Management has upgraded its "Wealth Management Factory" model from version 1.0 to 2.0, emphasizing customized production, standardized processes, and a dual focus on products and services [2] - The 2.0 model includes seven key features: customized production, systematic operation, standardized processes, centralized control, ESG integration, digital transformation, and a balance between products and services [2][3] Group 2: Product Line and Service Capabilities - Huaxia Wealth Management has developed a diversified product system covering cash management, fixed income, equity, mixed assets, and ESG, catering to various risk preferences and investment horizons [3] - The company has established a Customer Experience Department to enhance service delivery and responsiveness to diverse client needs, aiming for a personalized service approach [3] Group 3: Growth and Scale - Huaxia Wealth Management's product management scale surpassed 1 trillion yuan by June 2025, achieving a doubling of scale since its first year and maintaining high growth rates [4] - The company aims to leverage its scale as a foundation for comprehensive capabilities and to enhance product yield competitiveness and client experience [5] Group 4: Strategic Initiatives - The "Tiangong" series of passive index financial products focuses on key national industrial policies and aims to provide better index product services with competitive fee structures [6] - Huaxia Wealth Management is actively involved in green finance, having issued over 32 billion yuan in ESG financial products and integrating ESG principles into its business operations [7] Group 5: Future Vision - As it approaches the end of the 14th Five-Year Plan and the beginning of the 15th, Huaxia Wealth Management plans to enhance its "Wealth Management Factory" model and strengthen its research capabilities to contribute to wealth preservation and economic development [8]

Group 1 - The conference on ESG management in China highlighted the increasing complexity and challenges in sustainable investment due to factors like climate risks, financing gaps, and disruptive technologies [1][3] - The Responsible Investment Principles Organization (PRI) identified ten financial tools to assist investors in allocating funds to sustainable projects, aiming to create a favorable investment environment [1][5] - Asset owners, such as pension and insurance institutions, play a crucial role in influencing market trends and should enhance communication with investment managers to align long-term sustainability goals [2][5] Group 2 - Sustainable investment faces multiple challenges, including regulatory slowdowns in the EU, the rise of "anti-ESG" sentiments in the US, and increasing climate physical risks, which threaten financial stability [3][4] - The estimated annual funding gap for biodiversity is $700 billion, with only $35 billion currently invested, indicating a significant shortfall in necessary financing [3] - Investors encounter practical challenges such as lack of incentives, market imperfections, inconsistent policies, and insufficient transparency and credibility in data [4][5] Group 3 - PRI emphasizes the importance of integrating economic policies with regulatory frameworks to effectively address sustainability challenges [6] - Investors are encouraged to incorporate sustainability issues into investment policies and governance, particularly asset owners who can significantly influence asset management practices [7] - Active engagement with policymakers is essential for investors to reflect their needs and participate in the formulation of relevant policies [7]

Group 1 - The conference "Investment for Good" focused on the importance of ESG (Environmental, Social, and Governance) investment as a significant innovation in investment philosophy and a crucial exploration of future development directions [1] - The company has been a pioneer in green finance in China, establishing a comprehensive green finance system over 19 years, which includes diverse products and carbon finance services [1] - The company integrates ESG principles into its product lines and continuously enhances its green finance product and service system [1] Group 2 - The company actively seeks high-quality ESG assets and emphasizes the performance of financing entities in ESG aspects, creating an ESG green asset index to support investment decisions [2] - The company has developed a comprehensive ESG product system in fixed income, covering short, medium, and long-term strategies, and is expanding into multi-asset and equity ESG products [2] - The company aims to leverage the forum to collaborate with various parties to promote the development of ESG investment and contribute to the construction of a beautiful China [2]

Core Viewpoint - The 2025 Sixth China Fund of Funds Summit highlighted the rise of RMB funds in the context of capital market reforms and policy changes, emphasizing the need for strategic investment adjustments in the current market environment [1][2]. Group 1: Rise of RMB Funds - RMB funds are increasingly prominent due to changes in the market environment, shifting from incremental investments to stock integration, particularly in mergers and acquisitions [5]. - Key investment directions for RMB funds include globalization, breakthroughs in AI technology, and ESG (Environmental, Social, Governance) investments [5]. - New types of General Partners (GPs) focusing on early-stage innovation and boutique investments are emerging as significant players in the market [5]. Group 2: Local Government Investment Strategies - Local government investments are often driven by policy directives, focusing on short-term growth and GDP, which can lead to industry oversupply and low profit margins [6]. - Despite challenges, companies that can stand out in the stock market possess high investment value, particularly those demonstrating strong competitiveness through industry consolidation or mergers [6]. - Future investment strategies should balance current stock market opportunities with seed investments in future technology sectors [6]. Group 3: Impact of AIC and CVC on Market Structure - AIC, as a state-owned investment institution, plays a crucial role in equity investment, focusing on hard technology and key areas that require state support [8]. - AIC's investment strategy includes collaborating with local governments and industry leaders to create an efficient fundraising system, employing a "dumbbell strategy" that targets both early-stage companies and those nearing IPO [8][9]. - CVCs are gaining attention for their unique advantages in project discovery and technology validation, particularly in the fields of disruptive technology and AI [9][10]. Group 4: Efficiency and Collaboration - AIC's involvement has positively impacted local markets, particularly in improving investment approval efficiency, significantly reducing the typical approval timeline [10]. - The collaboration between AIC and local investment institutions has led to faster project initiation, enhancing the overall investment landscape [10].

Core Viewpoint - The visit of Melbourne's Mayor Nicholas Rees to Nanjing from September 18 to 20 aimed to strengthen the friendship and cooperation between the two cities, focusing on innovation, healthcare, and sustainable development [1][3]. Group 1: Cooperation and Initiatives - The delegation included around 50 members, comprising city councilors and representatives from healthcare, green economy, and education sectors, as well as award-winning projects from the 2025 Nexus Innovation and Entrepreneurship Competition [1][3]. - The "Nanjing-Melbourne City Excellence Center" and the "Nanjing (Melbourne) Technology Cooperation Innovation Park" were launched during the visit, enhancing the integration of innovation systems between the two cities [3][4]. - The establishment of the "Nanjing-Melbourne Sports Medicine and Rehabilitation Cooperation Center" was witnessed, aiming to share medical knowledge and skills between the two cities [4]. Group 2: Economic and Technological Insights - Nanjing is recognized as a global leader in green transformation and an ESG investment pioneer, with discussions on topics like green energy storage and pollution control during the economic exchange activities [6]. - The delegation explored Jiangsu's advancements in various fields, including new information technology, new energy, and biomedicine, expressing optimism about the province's development prospects [6]. - Nanjing's strengths in traditional Chinese medicine and its status as a significant clinical trial center were highlighted, with a focus on enhancing collaboration in the medical technology sector [6]. Group 3: Cultural Exchange - The delegation experienced Nanjing's historical and cultural heritage, noting the city's balance between development and cultural preservation [7].

Core Insights - The article discusses the performance of ESG mutual funds during the observation period from September 15 to September 19, 2022, highlighting a decline in returns for most fund categories except for broad ESG-themed index funds [1] - The broad ESG-themed funds continue to lead, with active funds showing an average weekly return of 7.01% and index funds at 4.55% [1] - Pure ESG-themed funds experienced a significant drop in returns, with active funds averaging 1.21% and index funds at 0.17%, and three funds reported losses [1] Fund Performance Summary - The top-performing broad ESG-themed active funds include: - "浦银安盛ESG责任投资A" with a weekly return of 2.18% and a total return since inception of -6.87% [3] - "兴证全球可持续投资三年定开" with a weekly return of 1.86% and a total return since inception of 38.05% [3] - The top-performing broad ESG-themed index funds include: - "鹏华国证ESG300ETF" with a weekly return of 0.39% and a total return since inception of 2.91% [6] - "国联安国证ESG300ETF" with a weekly return of 0.39% and a total return since inception of 16.12% [6] Fund Classification and Methodology - ESG funds are categorized into two main types: ESG-themed funds and broad ESG-themed funds, further divided into active and index funds based on investment strategies [8] - The weekly rankings are compiled from operational public funds, excluding those that have been liquidated, and will include ESG bond funds in future rankings [8]