人力资源和社会保障部正式公布了本年度一季度全国企业年金 数据，首次引入"近三年累计收益率"这一全新关键指标，取代 了传统的"当年"口径。 封图：图片资料室 秉持"长钱长投"理念，交出优异答卷 在人社部 "长钱长投"的政策指引下，国泰基金作为22家年金投管人之一，凭借专业的投资管理能 力， 交出了一份优异的答卷 。 具体来看，在单一计划中，国泰基金含权类组合近三年收益率为 11.86%，在22家投管人组合中 位列 第一 ；固定收益类组合近三年收益率为 12.02%，在全市场位列第五。在集合计划产品中， 国泰基金含权类组合近三年收益率为11.13%，位列全市场 第一 ；固定收益类组合近三年收益率 为 11.48%， 位居市场第三 。 尤为值得瞩目的是，国泰基金是 22家年金投管人中 唯一 一家在单一计划固收、单一计划含权、 集合计划固收、集合计划含权四类组合产品近三年累计收益率均突破 10%大关的管理机构。"全 能型" 的 卓越表现，充分印证了国泰基金在多元化投资策略与全资产类别管理上的深厚积淀。 2025年6月13日，人力资源和社会保障部正式公布了本年度一季度全国企业年金数据。此次数据 披露方式较以往有所不同， ...

Core Insights - Selecting a strong and stable fund management company is crucial for investors to achieve wealth growth in the fund investment sector [1] - The article recommends ten high-quality funds to assist investors in making informed choices [1] Fund Summaries - **J.P. Morgan Asset Management China**: Established in May 2004, it manages a total of 1759.40 billion yuan across 222 funds, with notable products achieving returns of 157.19% and 184.70% [3] - **E Fund Blue Chip Select Fund**: Managed by renowned fund manager Zhang Kun, it focuses on high-quality blue-chip stocks in A-shares and Hong Kong stocks, emphasizing long-term value investment [4] - **Fidelity Tianhui Growth Fund**: Led by Zhu Shaoxing, it targets high-growth potential small and medium-sized enterprises, utilizing a bottom-up stock selection strategy [5] - **Huaxia CSI 300 ETF Linked Fund**: Closely tracks the CSI 300 Index, covering 30 leading industries, known for its low fees and high liquidity [6] - **Harvest Money Market Fund**: Invests primarily in money market instruments, balancing yield and liquidity, suitable for cash management [7] - **Xingquan Trend Investment Fund**: Employs a "core + satellite" strategy, dynamically adjusting stock and bond ratios, demonstrating strong resilience during market fluctuations [8] - **Huaan CSI New Energy Vehicle Industry Fund**: Tracks the CSI New Energy Vehicle Index, benefiting from policy direction and industry trends [9] - **Southern Cash Management Fund**: Focuses on money market tools and short-term bonds, maintaining stable annual returns [10] - **Bosera Cash Income Fund**: Prioritizes safety, investing in high-credit short-term bonds, achieving an annual yield of 2.8% [11] - **ICBC Credit Suisse Dual Benefit Bond Fund**: Utilizes a "fixed income +" strategy, dynamically adjusting stock positions to enhance returns [12] Investment Considerations - Investors should align their choices with their risk tolerance, investment horizon, and goals, with different funds catering to varying risk profiles [12]

Group 1 - Webull has officially listed on NASDAQ under the ticker "BULL" through a SPAC merger, marking its entry into the global fintech sector [1] - The CEO of Webull, Anthony Denier, emphasized that becoming a public company is a significant milestone and aims to serve a growing number of tech-savvy retail investors [3] - Webull's advanced trading and investment products position it as a preferred partner for the next generation of retail investors seeking to profit in a dynamic trading environment [3] Group 2 - Bojiang Capital has played a crucial role in supporting Webull's international expansion, leveraging its cross-border resource network to adapt to various market regulations and user needs [3] - The global fintech industry is entering a new phase of high-quality development, and Bojiang Capital plans to continue investing in technology innovation and nurturing industry benchmarks like Webull [5] - Bojiang Capital is committed to a long-term investment philosophy, aiming to inject growth momentum into outstanding companies and promote innovation and value creation for investors, businesses, and society [5]

Core Viewpoint - The article discusses the challenges faced by investors in the capital market from 2022 to 2024, highlighting the emotional rollercoaster of investing and the need for a stable investment philosophy, exemplified by fund manager Yuan Hang's approach with the new floating management fee product, Penghua Win-Win Future [1][10]. Group 1: Investor Pain Points - Pain Point 1: Investors often chase hot themes but fail to outperform the market, leading to disappointment when the market corrects [2]. - Pain Point 2: Frequent management changes in funds undermine the promise of "long-termism," with many investors experiencing shifts in investment style after a manager departs [5]. - Pain Point 3: Investors worry about high portfolio volatility and the risk of managers chasing trends, which contradicts their initial investment goals [8]. Group 2: Yuan Hang's Investment Philosophy - Yuan Hang is characterized as a steady and disciplined fund manager who focuses on high-quality companies with economic moats, maintaining a long holding period and low turnover rate [3][5]. - His investment style is balanced between value and growth, primarily investing in large-cap growth stocks, and he has achieved a cumulative net value growth rate of 218.30% from 2015 to 2024 in the Penghua Advanced Manufacturing Fund [3][4]. - Yuan Hang emphasizes the power of compounding and the importance of long-term holding to minimize transaction costs and maximize returns, adhering to a philosophy of not engaging in investments that are not well understood [7]. Group 3: Innovative Product Design - The new floating management fee product, Penghua Win-Win Future, aligns the interests of fund managers with those of investors by adjusting management fees based on performance relative to a set benchmark [7][10]. - This product design encourages a focus on absolute returns and risk control, reducing the likelihood of chasing trends and ensuring that management fees are tied to actual investor returns [9][10]. - Yuan Hang's approach, reinforced by this innovative fee structure, aims to create a transparent and mutually beneficial long-term partnership between fund managers and investors [11].

Group 1 - The national team has increased its investment in ETFs by 600 million yuan, indicating a long-term commitment to enhancing the A-share market's prosperity [1] - The national team's purchases of ETFs are aimed at injecting liquidity into the market, particularly through broad-based ETFs like CSI 300 and SSE 50, to stabilize index fluctuations [1][2] - The expansion of ETF holdings to include technology-themed ETFs like the Sci-Tech 50 and ChiNext Index reflects a strategic support for emerging industries [1][2] Group 2 - The national team's actions have optimized market resource allocation, stabilizing valuations in key sectors and directing funds towards technology innovation and high-end manufacturing [2] - The increasing popularity of ETFs is accelerating the institutionalization of the A-share market, with a rising proportion of individual investors participating indirectly through ETFs [2] - The national team's ETF investments have improved market confidence and funding structure, providing a foundation for future market performance [2][3] Group 3 - The policy signals conveyed by the national team's ETF purchases are reshaping global investors' perceptions of Chinese assets, with international institutions raising target levels for indices like MSCI China and CSI 300 [3] - The ongoing expansion of ETF scales and market ecology will further amplify the qualitative effects of national team investments, becoming a significant force for A-share market prosperity [3]

Group 1 - The issuance of equity funds is experiencing a surge, with 16 new floating management fee funds set to launch on May 27, indicating a potential influx of capital into the market [1] - The total scale of ETFs in the Shanghai and Shenzhen markets has exceeded 4 trillion yuan, with a steady increase noted, suggesting a robust growth trajectory for the ETF market [1] - Traditional brokerage firms like Huatai Securities and CITIC Securities are maintaining their leading positions in the ETF business, highlighting the competitive landscape [1] Group 2 - The private equity fund management scale has rebounded to 20.22 trillion yuan, with 14.16 million funds managed, indicating a recovery in the private equity sector [2] - The average return for private equity institutions this year stands at 4.19%, with 72.85% of firms achieving positive returns, reflecting improved performance [2] - Five insurance companies have been flagged for inadequate solvency, although the overall solvency of the insurance sector remains strong [2] Group 3 - The price of tungsten has reached historical highs, with black tungsten concentrate prices rising by 18.2% to 165,500 yuan per ton, driven by supply-demand dynamics [3] - The demand for tungsten in sectors like PCB cutting tools is expected to grow, suggesting a positive outlook for the tungsten industry [3] Group 4 - The 618 shopping festival is set to be a significant event for e-commerce platforms, with new promotional strategies being adopted to enhance consumer engagement [4] - The integration of national subsidies is expected to further stimulate consumer spending during the shopping festival [4] Group 5 - The establishment of the Taiping New M&A Private Equity Fund in Shanghai, with a capital contribution of approximately 9 billion yuan, indicates a strategic move towards private equity investment [8] - The recent asset disposal by Wanda Group, involving the sale of 48 companies for around 50 billion yuan, reflects efforts to alleviate debt pressure [7] Group 6 - Meituan's CEO Wang Xing emphasized the company's commitment to winning competition in the food delivery market, despite aggressive subsidies from competitors like JD [8] - The ongoing competition in the food delivery sector is characterized by irrational subsidies, which may impact service quality and pricing [8] Group 7 - The recent auction failure of a painting by Wang Zhongjun, head of Huayi Brothers, highlights the financial struggles faced by the film industry, with the company reporting cumulative losses of 8.247 billion yuan from 2018 to 2024 [8] - The stock price of Zhongyida has surged threefold in two and a half months, raising concerns about potential market overheating and speculative trading risks [9]

Core Viewpoint - The conference emphasized the need for public fund companies to accelerate four key transformations to achieve high-quality development in the industry [1][2][3] Group 1: Transformations Required - The first transformation is a change in operational philosophy, focusing on creating value for investors and aligning company growth with long-term value creation [1] - The second transformation involves redefining functional positioning to enhance service to the real economy and individual investors, emphasizing technological finance and inclusive finance [2] - The third transformation is a shift in business models, centering on customer value creation and increasing investments in research and digitalization to improve investor services [3] - The fourth transformation focuses on compliance and risk management, strengthening liquidity risk management and establishing a comprehensive regulatory system [3] Group 2: Industry Actions - Fund companies are encouraged to enhance their product offerings, particularly in technology-driven sectors and inclusive finance, to meet the evolving needs of investors [2] - The industry is moving towards a more sustainable development model, with a focus on building core competitiveness and creating a first-class institution [3]

光大永明资产坚守长期价值投资理念，优化迭代投资体系建设，持续向规范化、定量化、科 学化精进，加强固定收益投资能力建设，聚焦打造服务型交易团队，提升交易能力对投资业 务支持度，在宏观研究、资产配置、信用挖掘和交易策略等方面形成了优势积累。 继2 0 2 3年首次开展债券交易排名活动以来，上交所已连续三年发布债券市场交易百强机构榜 单，根据交易量和机构类型进行了排名和表彰，旨在鼓励多类型机构积极参与上交所债券市 场交易，共同致力于提升二级市场流动性。 近日，上交所2024年度债券市场交易百强机构榜单揭晓，光大永明资产管理股份有限公司连续三 年入榜保险资管十强。 未 来 ， 光 大 永 明 资 产 将 紧 密 围 绕 客 户 需 求 ， 持 续 深 化 投 资 体 系 2 . 0 建 设 ， 拓 展 全 品 类 交 易 布 局，全力做好金融"五篇大文章"，助力保险资管行业高质量发展，为金融强国建设贡献坚实 力量。 ...

继 萧楠、陈皓 之后，张坤也于近期卸任易方达 副总经理 职位，至此，易方达三剑客均 告别高管职位，回归投研一线。曾经头顶 "公募一哥" 、 "消费猎手"等光环,手握千亿资 金搅动市场风云的明星基金经理们，在经历五年市场周期洗礼后， 如今 正以极具宿命 感的方式落下帷幕。 张坤卸任副总，易方达告别"明星挂帅"时代 吴楠 对于这一消息，资本市场并不意外 ——这是 继今年3月萧楠、陈皓卸任副总职位之后， "易方达三 剑客"中最后一位退出高管序列的明星基金经理 ； 但多少令人有些唏嘘：曾经头顶 "公募一哥" 、 "消费猎手"等光环，手握千亿资金搅动市场风云的明星基金经理们，在经历五年市场周期洗礼后， 正以极具宿命感的方式落下帷幕。 这场从"明星加冕"到"去 高管化 "的转变，不仅是 对基金经理个体角色的重新定位，也是基金公司 在规模暴增与业绩压力双重夹击下，对 过去管理 模式的深刻反思。 五年业绩曲线 5月16日晚 ，易方达基金发布人事调整公告：因工作调整，张坤不再担任副总经理高级管理人员， 未来将专注于投资管理工作 。 自2020年6月22日张坤正式 担任 易方达基金副总经理以来， 无论是 他本人 还是 其管理的基 ...

近日，证监会发布《推动公募基金高质量发展行动方案》（以下简称《行动方案》），为公募基金行业 的高质量发展指明方向。该方案以提升投资者获得感作为核心目标，在机制改革、产品供给和服务升级 等方面作出系统性部署。 作为公募基金行业的参与者，诺安基金深刻认识到《行动方案》对于保障投资者权益、促进行业可持续 发展的重大意义，将以此为契机认真贯彻落实方案要求，夯实投研能力基础，提升合规风控水平，积极 探索特色化发展路径，切实增强投资者获得感。 以投资者为本，夯实长期投资价值根基 公募基金"受人之托、代客理财"为根本，助力投资者实现资产长期保值增值是其核心使命。在新"国九 条"持续深化资本市场改革的政策背景下，基于行业发展的政治性与人民性，公募基金落实信义义务， 坚持"以投资者为本"，已成为行业高质量发展的必然要求。 本次《行动方案》围绕投资者利益保障，提出建立与基金业绩表现挂钩的浮动管理费收取机制、强化业 绩比较基准的约束作用、加强信息透明度建设、稳步降低基金投资者成本等要求。同时明确提出，要强 化基金投资收益长周期考核机制，要求三年以上中长期收益考核权重不低于 80%。这些措施有力推动 基金公司、高管、基金经理及销售机 ...