科技创新浪潮席卷全球，中国资产迎来系统性地价值重估的背景下，如何把握这一科技创新投资大时 代？华商基金权益投资副总监、华商均衡成长混合基金经理张明昕表示，要坚守价值投资，聚焦产业趋 势，追求长期可复制可持续的业绩。他管理的华商均衡成长混合基金业绩表现突出。截至2025年12月10 日，华商均衡成长混合A今年以来净值增长率高达140.87%。银河证券数据显示，截至2025年11月末， 华商均衡成长混合C近1年、3年业绩排名双双位列同类第七，为投资者在复杂多变的市场中带来了较好 的持有体验。 | 时间区间 | | 华商均衡成长混合C | 华商均衡成长混合A | | 业绩比较基准 收益率 | | --- | --- | --- | --- | --- | --- | | | 净值增长率 | 业绩排名 | 净值增长率 | 业绩排名 | | | 今年以来 2025.1.1 - 2025.12.10 | 139.53% | 不适用 | 140.87% | 不适用 | 23.89% | | 近1年 | 103.35% | 第7 | 104.55% | 第9 | 19.81% | | 2024.12.1-2025.11.30 ...

Core Viewpoint - The Chinese public fund industry has entered a new era of deep interest alignment with investors, marked by the approval of the first batch of 26 floating management fee rate funds, including the Huashang Zhiyuan Return Mixed Fund, which will be launched on July 1 [1][5]. Fund Structure and Management Fees - The Huashang Zhiyuan Return Mixed Fund employs a floating management fee mechanism linked to the holding period and performance, enhancing investor experience [1][2]. - The fund's performance benchmark is a combination of the CSI 500 Index (65%), the CSI Hong Kong Stock Connect Composite Index (15%), and the CSI All Bond Index (20%) [2]. - Management fees are structured as follows: - 1.20% annual fee if held for less than one year - 1.50% annual fee if the annualized excess return exceeds 6% and the holding return is positive - 0.60% annual fee if the annualized excess return is -3% or lower - 1.20% annual fee for other scenarios [2][3]. Fund Management and Performance - Huashang Fund has nearly 20 years of experience in active equity investment, with its active equity funds ranking in the top ten for absolute returns over the long term [5]. - Zhang Mingxin, the fund manager, has nearly 10 years of experience in the securities industry and emphasizes a core investment philosophy based on industry trends and comprehensive value assessment [5][6]. - The fund aims to balance deep value and growth while focusing on industry recovery and marginal changes to seek alpha in upward-trending sectors [7]. Future Outlook - The launch of the Huashang Zhiyuan Return Mixed Fund provides investors with a new tool to participate in the market, aiming to create long-term excess returns and align interests with investors [7].