8月12日，汇安基金发布公告称，基金经理陆丰因公司工作调整分别卸任汇安价值蓝筹混合基金和汇安均衡成长混合基金。 | 离任基金经理姓名 | 陆三 | | --- | --- | | 离任原因 | 公司工作调整 | | 离任日期 | 2025-8-11 | | 转任本公司其他工作岗位的说明 | 1 | | 是否已按规定在中国基金业协会办理 | 是 | | 变更手续 | | | 是否已按规定在中国基金业协会办理 | i | | 注销手续 | | 陆丰卸任的两只基金均是迷你基金，截至二季度末，汇安价值蓝筹混合基金和汇安均衡成长混合基金的资产净值分别为1569.64万元、1983.75万元。 截至二季度末，汇安价值蓝筹混合基金持有股票占比为93.17%，并未持有债券，前十大持仓个股均是银行和保险个股，分别为兴业银行、中国平安、中国 太保、新华保险、农业银行、民生银行、北京银行、中国银行、光大银行、沪农商行。 汇安价值蓝筹混合基金二季报显示，截至二季度末，连续超过60个工作日基金资产净值低于5000万元，基金管理人已按法规要求向证监会报送解决方案。 汇安价值蓝筹混合基金在二季报中指出，该基金布局中证红利，优选低估值、分红 ...

Core Viewpoint - The article discusses the strong performance of the dividend index in recent years, its driving factors, and the potential for continued growth in the future [1][5][47]. Performance Overview - The dividend index has shown strong performance in recent years, with some dividend funds increasing in value by 50%-80% [8][47]. - From 2018 to 2021, the growth style bull market saw the growth style index rise over 150%, while the dividend index lagged behind [6]. - However, from 2022 to 2024, the dividend index has performed well, showing overall growth [7]. Sources of Returns - The four main sources of returns for dividend index funds are: 1. **Undervalued Buy-in and Valuation Improvement**: The dividend index has seen a significant increase in price-to-earnings (P/E) ratio from around 7-8 times in 2018 to approximately 9-10 times by May 2025 [18][19][22]. 2. **Profit Growth**: The underlying companies of the dividend index have shown stable profit growth, particularly from 2022 to 2024, which supports the index's performance [27]. 3. **Dividend Yield**: The current dividend yield has increased significantly compared to 5-10 years ago, with many stocks now yielding 5%-6% [30][34]. 4. **Rule Optimization**: The optimization of index rules has improved returns, with newer indices incorporating additional criteria for stock selection [39][44]. Historical Performance Metrics - The annualized return of the dividend index since the end of 2004 is 8.73%, which increases to 12.52% when accounting for dividends [13][14]. - The long-term growth rate of the dividend index is estimated at 8%-9%, with an additional annual dividend yield of 3%-4% [14]. Policy Impact - Recent policies have encouraged companies to increase dividend payouts, resulting in a rise in the number and amount of cash dividends distributed by A-share companies, reaching approximately 2.4 trillion in 2024 [33]. - The proportion of profits distributed as dividends has increased from 30%-40% to 40%-50% for some companies [34]. Conclusion - The combination of undervalued buy-in, profit growth, increased dividend yields, and optimized rules are expected to continue driving the long-term growth of the dividend index [47].