Core Points - The CSI Medical Index (399989) closed at 7426.33 points, down 0.78%, with a trading volume of 21.164 billion yuan and a turnover rate of 1.59% [1] - Among the index constituents, 17 stocks rose while 33 stocks fell, with Weikang Medical leading the gainers at 4.6% and Yingke Medical leading the decliners at 8.58% [1] Index Constituents Summary - The top ten constituents of the CSI Medical Index include: - WuXi AppTec (603259) with a weight of 14.78%, latest price at 103.96 yuan, down 2.51%, and a market cap of 310.191 billion yuan [1] - Mindray Medical (300760) with a weight of 8.91%, latest price at 225.09 yuan, up 0.80%, and a market cap of 272.908 billion yuan [1] - United Imaging Healthcare (688271) with a weight of 8.15%, latest price at 144.81 yuan, up 0.68%, and a market cap of 119.346 billion yuan [1] - Other notable constituents include Yir Eye Hospital (300015), Kanglong Chemical (300759), and Tigermed (300347) [1] Capital Flow Analysis - The CSI Medical Index constituents experienced a net outflow of 1.035 billion yuan from institutional investors, while retail investors saw a net inflow of 598 million yuan [3] - Notable capital flows include: - United Imaging Healthcare (688271) with a net inflow of 67.12 million yuan from institutional investors [3] - Meinian Health (002044) with a net inflow of 45.66 million yuan from institutional investors [3] - Other companies like Kingmed Diagnostics (603882) and Yir Medical (002223) also showed varying capital flows [3]

Core Viewpoint - The article discusses the importance of performance benchmarks for fund managers, comparing them to a passing score in an exam, and emphasizes the need for accurate and reasonable benchmarks to evaluate fund performance [5][9][14]. Group 1: Performance Benchmarks - Fund managers have a performance benchmark, akin to a passing score in exams, which they strive to exceed [5][9]. - The benchmark is determined by the fund company and can sometimes be set lower to make it easier for managers to achieve [11][12]. - New regulations require that benchmarks must be accurately chosen to reflect the fund's characteristics, including market distribution and industry [14][17]. Group 2: Types of Funds and Benchmarks - Equity funds typically use the CSI 300 Index as their benchmark, which covers the largest 300 companies in the A-share market, representing nearly 60% of the market's total capitalization [21][22]. - Bond funds often use the China Bond Composite Index, which encompasses various core bond types, reflecting the overall performance of the Chinese bond market [24]. - Mixed funds have a more complex benchmark, combining stock and bond indices based on their asset allocation [27]. Group 3: Importance of Benchmarks for Investors - Benchmarks help investors assess the true performance of a fund by providing a standard for comparison [29]. - For instance, if a healthcare fund rises by 10% but the benchmark rises by 17%, the fund's performance is relatively poor [31]. - Investors can use a composite benchmark to evaluate the overall performance of multiple funds in their portfolio [36][38].

Core Points - The A-share market showed mixed results with the CSI Medical Index declining by 0.94% to 6591.32 points, with a trading volume of 11.33 billion yuan [1] - Over the past month, the CSI Medical Index has increased by 4.50%, but it has decreased by 4.01% over the last three months, and it has risen by 1.46% year-to-date [1] - The CSI Medical Index includes companies involved in medical devices, medical services, and medical information technology, reflecting the overall performance of the medical sector [1] Index Composition - The top ten weighted companies in the CSI Medical Index are: WuXi AppTec (11.63%), Mindray Medical (9.59%), Aier Eye Hospital (7.62%), United Imaging (7.21%), Aimeike (3.41%), Tigermed (3.39%), CR Medical (3.23%), New Industry (3.23%), Huatai Medical (3.0%), and Yuyue Medical (2.91%) [1] - The market composition of the CSI Medical Index shows that 58.60% of the holdings are from the Shenzhen Stock Exchange, while 41.40% are from the Shanghai Stock Exchange [1] - In terms of industry composition, 97.55% of the holdings are in the medical and health sector, 2.18% in information technology, and 0.27% in consumer goods [1] Index Adjustment - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made under special circumstances [2] - Companies that are delisted or undergo mergers, acquisitions, or splits are handled according to the calculation and maintenance guidelines [2]