xt ts 睡傻 CBG | RMKWAS 安信息 AP 国农业银行 心服务社会 E FOOD 42 Millia UHULA MUHA MANA ////////// // FRE N WS/ " P ITE TIE f 1 C O 0 ( e e 本次活动圆满结束，未来国投瑞银基金将持续践行"金融为民"理念，将反洗钱，个人养老金等知识送进 社区、校园、企业，助力构建安全、健康的金融环境，守护人民群众"钱袋子"。 风险提示：基金有风险，投资须谨慎。请仔细阅读基金合同、招募说明书、产品资料概要等法律文件及 相关公告，并做好风险测评，在了解产品的投资风险、投资范围、投资策略等各类详情的基础上，结合 自身的风险承受能力、投资目标、投资期限等情况，谨慎做出投资决策。基金管理人承诺以诚实信用、 勤勉尽责的原则管理和运用基金资产，但不保证产品投资的本金不会亏损，也不保证收益。基金的过往 业绩并不预示其未来表现，基金管理人管理的其他基金的业绩也不构成本基金业绩表现的保证。我国基 金运作时间较短，不能反映资本市场发展所有阶段。 MACD金叉信号形成，这些股涨势不错！ 责任编辑：郭栩彤 专题：2025金融教育宣传周：保障金融 ...

专题：北京公募基金高质量发展系列活动 新时代、新基金、新价值 综上，鹏扬基金通过系统化的投研框架和全程风控管理，在控制波动的前提下，帮助投资者更好地规划 养老生活、提升未来收入替代水平。 在指数型产品布局上，鹏扬基金聚焦于市场代表性宽基指数作为跟踪标的，面向具备一定风险承受能 力、追求长期权益资产超额收益的投资者，提供透明、高效的工具化产品解决方案。该类产品坚持清晰 的风格定位与稳定的策略执行，不仅持仓透明，更能够有效分散个股风险，贴合机构与个人资产配置需 求。 在个人养老金长期投资框架下，鹏扬指数型产品凭借其规则化、透明化的运作方式，有效降低了风格漂 移风险。在金融市场不断走向高质量发展、资本市场深化改革持续推进的背景下，该类产品有望帮助投 资者更好地把握经济增长与行业轮动带来的系统性机会，从而成为养老金账户中值得信赖的底层配置工 具。 【编者按】 当前，我国公募基金行业正步入深化改革、提质增效的关键阶段。作为资本市场的重要参与者和居民财 富管理的主力军，公募基金在实现规模增长的同时，也面临着提升投资能力、优化客户体验、增强投资 者信任等重要课题。推动实现高质量发展，已不仅是行业共识，更是服务国家战略、回应 ...

Core Viewpoint - The recent addition of two fixed-income personal pension financial products by China Post Wealth Management reflects the ongoing expansion and innovation in the personal pension market, which aims to meet diverse investor needs and enhance retirement planning options [1][2][3]. Product Development - The newly introduced products have minimum holding periods of 18 months and 2 years, with a risk level classified as moderate (level 2), primarily utilizing fixed investment strategies to balance asset allocation [1][2]. - As of August 2023, the scale of personal pension financial products from China Post Wealth Management has surpassed 20 billion yuan, serving nearly 400,000 investors [2]. Market Dynamics - The personal pension system, recognized as the "third pillar" of China's pension insurance framework, has shown steady growth since its pilot launch in 2022, with ongoing policy support indicating potential market expansion [2][3]. - By the end of June 2023, personal pension financial products generated over 390 million yuan in returns for investors, with an average annualized return exceeding 3.4% [3]. Innovation and Future Outlook - Key areas for innovation in financial products include diversifying product types to cater to different age groups, enhancing asset allocation capabilities, and integrating financial products with retirement services [4]. - The personal pension financial market is expected to become a significant component of retirement finance, providing robust support for residents' retirement needs as more financial institutions participate and innovate [4].

Core Viewpoint - The article emphasizes the importance of building a multi-tiered and multi-pillar pension security system in response to the accelerating aging population in China, highlighting the strategic role of public fund companies in this initiative [2][4]. Strategic Layout - The public fund industry is actively engaging in the personal pension business, establishing a product system primarily based on pension target funds (FOF) and collaborating with various types of products [4]. - As of June 2025, the number of funds included in the personal pension product directory has increased to 297, with pension target funds dominating, accounting for over 70% of the total [4]. Growth of Personal Pension Funds - In the first half of the year, the total scale of personal pension funds exceeded 12.4 billion, marking a nearly 36% increase compared to the end of the previous year [5]. - The development of the personal pension fund market has progressed from the approval of the first pension target funds in September 2018 to the official launch of personal pension business in November 2022 [5]. Enhancements in Pension Financial Services - The company has elevated pension finance to a strategic priority, focusing on optimizing service capabilities through internal and external resource integration and cross-sector collaboration [8]. - The company is actively involved in investor education, leveraging authoritative financial media to conduct extensive outreach and educational activities on pension policies and planning [8][9]. Investor Education Initiatives - The company aims to address actual investor pain points by providing systematic content design and diverse communication channels to enhance public understanding of pension issues and tax-advantaged policies [10]. - Emphasis is placed on guiding investors in scientific pension planning, including goal setting, gap assessment, and investment planning, while warning against common investment pitfalls [10].

Core Insights - The personal pension accounts in China have shown a significant recovery, with nearly 15% profit realized by many investors, indicating a positive trend in the market [1] - As of September 17, 98% of personal pension public fund products have positive returns since inception, with an average return of 15% and 67% of products seeing net value increases exceeding 10% [1] Group 1: Market Performance - The growth in net value of personal pension fund products reflects the stabilization and improvement of the capital market this year [2] - The long-term investment and compound interest design of the personal pension system is expected to catalyze the growth of China's third pillar of pension [2] Group 2: System Optimization - The personal pension system, launched at the end of 2022, has undergone continuous optimization, expanding its coverage and increasing the variety of investment products available [2] - Future enhancements may include adjustments in annual contribution limits, investment product ranges, and tax incentives [2] Group 3: Investment Strategies - Investors are encouraged to deepen their understanding of the system and actively participate in pension planning to capitalize on long-term investment benefits [3] - Emphasis is placed on maintaining a long-term investment philosophy, prioritizing safety and stability in asset allocation [3] - Selecting professional institutions and enhancing active management capabilities are crucial for navigating market volatility and ensuring better investment outcomes [3][4] Group 4: Lifecycle Investment Approach - A lifecycle matching principle is recommended for product selection, with younger investors favoring high-volatility products, middle-aged investors balancing risk and return, and those nearing retirement focusing on stable products [4] - The impressive performance of personal pension funds reflects market confidence in China's pension system reforms, which are expected to provide more investors with benefits from economic transformation and institutional changes [4]

Core Insights - The article highlights the performance and advantages of the Hua Bao Stable Pension FOF A (007255), which has achieved a return of 13.04% over the past year, ranking in the top 25% among similar funds [1][3][4] Fund Performance - Hua Bao Stable Pension FOF A (007255) has a net value of 1.3315 yuan as of August 29, 2025, with a one-year return of 13.04%, placing it 19th out of 80 in its category [3][4] - The fund's annualized return since its inception on April 25, 2019, is 4.61% [3] - Hua Bao Stable Pension FOF Y (017271) also shows strong performance, with a net value of 1.3540 yuan and a year-to-date growth rate of 7.8025%, ranking 29th among 303 similar funds [4][3] Investment Strategy - The fund employs a risk management strategy focusing on controlling maximum drawdown and volatility, utilizing a risk parity model that includes a mix of equity, bond, and commodity funds [3][9] - The asset allocation strategy includes a slight adjustment in equity positions to mitigate market risks, primarily focusing on sectors like banking, finance, and technology [9][12] Management Expertise - The fund manager, Sun Mengyi, is recognized for his detailed asset allocation framework and a unique investment methodology that combines qualitative and quantitative analysis [7] - Sun has a strong background in FOF research and investment, having previously worked with leading securities firms and financial institutions [7] Market Outlook - The article indicates a positive outlook for the A-share market, particularly in technology and AI sectors, while advising caution regarding potential profit-taking pressures [12][13] - The bond market is expected to remain weak in the short term, with a recommendation to wait for clearer signals before making significant investments [13] Industry Trends - The awareness of personal pension funds is increasing among the public, with Hua Bao Fund being a pioneer in the industry, launching the first Y-share personal pension fund in November 2022 [15][16] - The company has a robust asset management scale exceeding 300 billion yuan and has served over 64 million clients, generating significant profits for fund holders [16][17]

Core Viewpoint - The article discusses the new personal pension policy implemented by the Ministry of Human Resources and Social Security and other departments, which expands the scenarios for receiving personal pensions and clarifies the application process starting from September 1 [2]. Policy Interpretation - The original scenarios for receiving personal pensions included three situations: going abroad, reaching the age for basic pension, and complete loss of labor capacity [3][4]. - Three new scenarios have been added for receiving personal pensions: 1. Medical expenses exceeding the average disposable income of residents in the province for the previous year after insurance reimbursement [7]. 2. Receiving unemployment insurance for a cumulative total of 12 months within the last two years [7]. 3. Currently receiving urban and rural minimum living security [7]. Application Channels - The original application channel was through the bank where the personal pension fund account was opened [8]. - Two new application channels have been introduced: 1. A national unified online service portal [9]. 2. Social insurance agencies, including the national social insurance public service platform and the "掌上12333" app [9]. Review and Receiving Process - Social insurance agencies are responsible for verifying the pension application and uploading the results to the personal pension information management service platform [10]. - For approved applications, the bank will deduct a 3% personal income tax and transfer the funds to the individual's social security card bank account [10][11].

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Group 1 - The core viewpoint of the article highlights the concerning state of retirement preparedness in China, with the retirement preparation index at a low 5.53 for two consecutive years, indicating a lack of readiness amidst an aging population [2] Group 2 - The pension dilemma reveals that while the basic pension insurance coverage exceeds 80%, the urban employee pension replacement rate is only 36.7%, and the average monthly pension for urban and rural residents is merely 226 yuan [4] - There is a significant disparity in retirement preparation between income groups, with low-income individuals showing a notable decline in their retirement preparation index, while high-income groups are experiencing an upward trend [4] Group 3 - The profile of individuals well-prepared for retirement includes those aged 36-45, with a bachelor's degree, working in state-owned enterprises, and earning over 170,000 yuan annually. Financial literacy is a critical factor, as those with high financial literacy save 47% more for retirement and are 2.3 times more likely to purchase commercial pension insurance compared to those with low financial literacy [6] Group 4 - Despite over 60 million personal pension accounts being opened, the average annual contribution is only 5,145 yuan, significantly below the 12,000 yuan cap. Interestingly, the middle-income group (earning 160,000-350,000 yuan) shows the strongest willingness to contribute, while 72% of individuals earning less than 100,000 yuan are in "ineffective insurance," missing out on tax benefits [7][8] Group 5 - The average expected retirement age is 62.5 for men and 56 for women, but behavioral experiments indicate that showing total pension amounts can increase the willingness to retire early by 20%. Conversely, shortening the retirement choice window can increase the proportion of individuals retiring on time by 15% [10] - A survey of the 18-35 age group reveals that parents with daughters are more inclined to delay retirement by an average of 1.8 years compared to those with sons. Additionally, higher-income youth tend to choose later retirement, with each point increase in financial literacy pushing the expected retirement age back by 0.7 years [11] Group 6 - Recommendations for addressing the retirement crisis include a combination of policy measures, such as pension adjustments and economic transformation, which could raise the retirement index by 1.18. The private sector's pension coverage is significantly lower than that of state-owned enterprises, indicating a need for enhanced tax incentives [15] - Individuals are encouraged to master basic financial knowledge, such as compound interest calculations, which could directly improve their retirement preparation index by 32%. With the old-age dependency ratio at 22.5% (five young people supporting one elderly person), relying solely on government pensions is insufficient [15]

Group 1 - The State Council issued opinions on gradually promoting free preschool education, starting from the autumn semester of 2025, which will exempt public kindergartens from charging care and education fees for children in their final year [2] - The implementation plan for personal consumption loan interest subsidy policy states that from September 1, 2025, to August 31, 2026, residents can enjoy interest subsidies on personal consumption loans used for consumption, excluding credit card transactions [4] - The notice regarding personal pension withdrawals, effective from September 1, introduces three new scenarios for pension withdrawals and enhances online service access through electronic social security cards and mobile apps [6] Group 2 - The new mandatory national standard for electric bicycles, effective from September 1, stipulates that electric bicycles must not exceed a maximum design speed of 25 km/h and that the total plastic mass used should not exceed 5.5% of the total vehicle mass [8] - The Supreme People's Court issued an interpretation regarding labor dispute cases, effective from September 1, stating that any agreement to not pay social insurance is invalid, regardless of whether it was negotiated or unilaterally promised by the employee [10] - The implementation of the "Identification Measures for AI-Generated Synthetic Content" from September 1 aims to help users identify false information and outlines the responsibilities of service providers regarding content labeling [12] Group 3 - The Administrative Division Code Management Measures will officially take effect on September 1, establishing rules for the creation and abolition of administrative division codes, which are reflected in the first six digits of personal ID numbers [14] - The Housing Rental Regulations will come into effect on September 15, mandating that rental properties must comply with safety and health standards, and stipulating conditions for the collection and return of security deposits [16] - The Rural Road Regulations, effective from September 15, require county-level transportation authorities to take effective measures against over-limit transportation on rural roads and allow for the participation of local residents in road maintenance through government service purchases [18] Group 4 - Starting September 1, Beijing and Hunan provinces will adjust their minimum wage standards, with Beijing's minimum wage set at no less than 14.6 yuan per hour and 2540 yuan per month, while Hunan's monthly minimum wage will be adjusted to 2200 yuan, 2000 yuan, and 1800 yuan for full-time workers [20] - From September 1, Sichuan Province will directly distribute maternity allowances to insured employees who meet the eligibility criteria, either by the employees themselves or their authorized representatives [22] - Guangdong Province will provide financial support for key projects in manufacturing innovation, quality enterprise cultivation, industrial intelligence application, and open-source ecosystem development, with individual projects eligible for up to 50 million yuan in subsidies, effective from September 1 until the end of 2027 [24]